Clearbridge Investments LLC trimmed its position in shares of NortonLifeLock Inc. (NASDAQ:NLOK) by 4.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,865,256 shares of the company’s stock after selling 86,292 shares during the period. Clearbridge Investments LLC owned approximately 0.32% of NortonLifeLock worth $50,772,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Brandywine Global Investment Management LLC bought a new stake in NortonLifeLock during the second quarter valued at about $12,010,000. Franklin Resources Inc. boosted its holdings in NortonLifeLock by 0.7% during the second quarter. Franklin Resources Inc. now owns 10,221,679 shares of the company’s stock valued at $278,235,000 after acquiring an additional 69,078 shares during the period. Stifel Financial Corp boosted its holdings in NortonLifeLock by 13.6% during the second quarter. Stifel Financial Corp now owns 46,265 shares of the company’s stock valued at $1,259,000 after acquiring an additional 5,539 shares during the period. Bridgewater Associates LP bought a new stake in NortonLifeLock during the second quarter valued at about $992,000. Finally, Qube Research & Technologies Ltd boosted its holdings in NortonLifeLock by 374.1% during the second quarter. Qube Research & Technologies Ltd now owns 584,828 shares of the company’s stock valued at $15,919,000 after acquiring an additional 461,479 shares during the period. Institutional investors own 91.20% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Barclays upped their price target on shares of NortonLifeLock from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, July 15th. HSBC cut shares of NortonLifeLock from a “buy” rating to a “hold” rating in a research note on Wednesday, August 11th. Finally, Mizuho reiterated a “buy” rating and issued a $27.00 target price on shares of NortonLifeLock in a research note on Wednesday, July 28th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $28.20.
NortonLifeLock (NASDAQ:NLOK) last posted its quarterly earnings data on Tuesday, July 27th. The company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The company had revenue of $691.00 million during the quarter, compared to analyst estimates of $685.45 million. NortonLifeLock had a net margin of 23.52% and a negative return on equity of 177.25%. The company’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the business posted $0.31 earnings per share. On average, analysts expect that NortonLifeLock Inc. will post 1.72 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Monday, August 23rd were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Friday, August 20th. NortonLifeLock’s payout ratio is 37.59%.
NortonLifeLock, Inc engages in the provision of security, storage, and systems management solutions. The firm focuses on providing consumer cyber safety with its business solutions. The company was founded by Gary Hendrix in April 1982 and is headquartered in Tempe, AZ.
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