NortonLifeLock (NASDAQ:NLOK) Raised to Buy at upgraded shares of NortonLifeLock (NASDAQ:NLOKGet Rating) from a hold rating to a buy rating in a research note released on Monday.

A number of other equities analysts have also commented on the company. Barclays dropped their price objective on NortonLifeLock to $28.00 in a research note on Tuesday, August 9th. TheStreet lowered NortonLifeLock from a b- rating to a c+ rating in a research note on Tuesday, July 5th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, NortonLifeLock currently has a consensus rating of Moderate Buy and an average target price of $27.40.

NortonLifeLock Trading Up 0.1 %

Shares of NLOK stock opened at $22.75 on Monday. NortonLifeLock has a 1-year low of $21.55 and a 1-year high of $30.92. The company has a market capitalization of $13.00 billion, a price-to-earnings ratio of 15.91 and a beta of 0.71. The stock’s fifty day simple moving average is $23.72 and its 200-day simple moving average is $24.88.

NortonLifeLock (NASDAQ:NLOKGet Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $711.32 million. NortonLifeLock had a negative return on equity of 565.66% and a net margin of 30.35%. On average, sell-side analysts predict that NortonLifeLock will post 1.69 EPS for the current year.

NortonLifeLock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 14th. Stockholders of record on Monday, August 22nd will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, August 19th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.20%. NortonLifeLock’s dividend payout ratio is 34.97%.

Insider Activity at NortonLifeLock

In other news, Director Peter A. Feld bought 500,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 15th. The stock was acquired at an average cost of $22.03 per share, for a total transaction of $11,015,000.00. Following the purchase, the director now owns 2,024,896 shares of the company’s stock, valued at approximately $44,608,458.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NortonLifeLock

Hedge funds and other institutional investors have recently made changes to their positions in the business. Steward Financial Group LLC purchased a new position in NortonLifeLock in the first quarter valued at about $31,000. Elequin Capital LP bought a new position in shares of NortonLifeLock in the 1st quarter worth $38,000. Allworth Financial LP increased its holdings in shares of NortonLifeLock by 28.8% in the 1st quarter. Allworth Financial LP now owns 1,944 shares of the company’s stock worth $52,000 after buying an additional 435 shares during the last quarter. CoreCap Advisors LLC purchased a new stake in NortonLifeLock during the 2nd quarter valued at $49,000. Finally, Prospera Financial Services Inc purchased a new stake in shares of NortonLifeLock in the 1st quarter worth about $60,000. 94.86% of the stock is owned by institutional investors.

About NortonLifeLock

(Get Rating)

NortonLifeLock Inc provides cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It offers Norton 360, an integrated platform provides extensive cyber safety coverage and a subscription service providing protection for PCs, Macs, and mobile devices against malware, viruses, adware, ransomware, and other online threats on various platforms; and Norton and LifeLock identity theft protection solution that offers monitoring, alerts, and restoration services to its customers.

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