GAM Holding AG bought a new stake in NortonLifeLock Inc. (NASDAQ:NLOK) during the fourth quarter, HoldingsChannel.com reports. The firm bought 373,085 shares of the company’s stock, valued at approximately $9,522,000.
A number of other institutional investors have also added to or reduced their stakes in NLOK. State Street Corp bought a new position in NortonLifeLock in the fourth quarter valued at about $662,260,000. Boston Partners bought a new position in NortonLifeLock in the fourth quarter valued at about $268,503,000. Assenagon Asset Management S.A. bought a new position in NortonLifeLock in the fourth quarter valued at about $77,937,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in NortonLifeLock in the fourth quarter valued at about $60,771,000. Finally, Swiss National Bank bought a new position in NortonLifeLock in the fourth quarter valued at about $49,735,000. Hedge funds and other institutional investors own 85.44% of the company’s stock.
A number of research firms have issued reports on NLOK. Robert W. Baird decreased their target price on NortonLifeLock from $26.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Mizuho lifted their price target on NortonLifeLock to $21.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. They noted that the move was a valuation call. ValuEngine lowered NortonLifeLock from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Royal Bank of Canada cut their price target on NortonLifeLock to $17.00 and set a “positive” rating on the stock in a research note on Tuesday, February 4th. Finally, UBS Group lifted their price target on NortonLifeLock from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. NortonLifeLock presently has an average rating of “Hold” and an average price target of $21.43.
NortonLifeLock (NASDAQ:NLOK) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.17. NortonLifeLock had a return on equity of 9.68% and a net margin of 100.76%. The firm had revenue of $618.00 million for the quarter, compared to analyst estimates of $607.39 million. During the same period last year, the firm posted $0.44 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. As a group, analysts forecast that NortonLifeLock Inc. will post 0.44 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, February 21st. NortonLifeLock’s payout ratio is 42.74%.
NortonLifeLock Inc provides cyber security products, services, and solutions worldwide. The company offers Norton security solutions as a subscription service providing protection for devices against malware, viruses, adware, and ransomware on various platforms; and LifeLock identity theft protection solution that provides identity monitoring, alerts, and restoration to its customers.
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