Hennessy Advisors Inc. Makes New Investment in NortonLifeLock Inc. (NASDAQ:NLOK)

Hennessy Advisors Inc. purchased a new position in NortonLifeLock Inc. (NASDAQ:NLOK) in the 1st quarter, HoldingsChannel reports. The fund purchased 138,700 shares of the company’s stock, valued at approximately $2,949,000.

Several other hedge funds have also recently modified their holdings of the stock. Hoover Financial Advisors Inc. purchased a new stake in shares of NortonLifeLock in the fourth quarter valued at about $33,000. Tompkins Financial Corp acquired a new position in NortonLifeLock during the fourth quarter worth about $44,000. Oder Investment Management LLC acquired a new position in NortonLifeLock during the fourth quarter worth about $44,000. Global Retirement Partners LLC acquired a new stake in shares of NortonLifeLock in the fourth quarter valued at approximately $45,000. Finally, Ironwood Wealth Management LLC. purchased a new position in shares of NortonLifeLock during the fourth quarter valued at approximately $47,000. Hedge funds and other institutional investors own 91.14% of the company’s stock.

A number of equities analysts have weighed in on NLOK shares. Bank of America started coverage on shares of NortonLifeLock in a research note on Monday. They set an “underperform” rating and a $19.00 price target on the stock. Credit Suisse Group increased their price target on shares of NortonLifeLock from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, February 5th. Finally, Morgan Stanley increased their price target on shares of NortonLifeLock from $25.50 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, February 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. NortonLifeLock currently has an average rating of “Hold” and an average target price of $24.20.

NLOK opened at $22.00 on Friday. The company has a market capitalization of $12.80 billion, a P/E ratio of 4.35, a PEG ratio of 2.78 and a beta of 0.79. The company has a 50-day moving average of $21.37 and a 200-day moving average of $20.67. NortonLifeLock Inc. has a 1-year low of $17.98 and a 1-year high of $24.40.

NortonLifeLock (NASDAQ:NLOK) last issued its earnings results on Thursday, February 4th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. The business had revenue of $639.00 million for the quarter, compared to analyst estimates of $630.24 million. NortonLifeLock had a net margin of 131.80% and a return on equity of 33.48%. As a group, sell-side analysts expect that NortonLifeLock Inc. will post 1.25 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 17th. Stockholders of record on Monday, February 22nd were paid a $0.125 dividend. The ex-dividend date was Friday, February 19th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.27%. NortonLifeLock’s dividend payout ratio (DPR) is presently 66.67%.

NortonLifeLock Profile

NortonLifeLock Inc provides cyber safety solutions for consumers worldwide. The company offers Norton security solutions as a subscription service providing protection for PCs, Macs, and mobile devices against malware, viruses, adware, ransomware, and other online threats on various platforms; and LifeLock identity theft protection solution that offers monitoring, alerts, and restoration services to its customers.

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Institutional Ownership by Quarter for NortonLifeLock (NASDAQ:NLOK)

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