NortonLifeLock Inc. (NASDAQ:NLOK) Announces $0.13 Quarterly Dividend

NortonLifeLock Inc. (NASDAQ:NLOKGet Rating) announced a quarterly dividend on Thursday, August 4th, RTT News reports. Stockholders of record on Monday, August 22nd will be given a dividend of 0.125 per share on Wednesday, September 14th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, August 19th.

NortonLifeLock has a dividend payout ratio of 27.9% meaning its dividend is sufficiently covered by earnings. Analysts expect NortonLifeLock to earn $1.78 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 28.1%.

NortonLifeLock Stock Down 9.0 %

NortonLifeLock stock opened at $24.21 on Friday. The company has a market capitalization of $13.83 billion, a PE ratio of 16.93 and a beta of 0.70. The firm has a fifty day simple moving average of $23.57 and a two-hundred day simple moving average of $25.62. NortonLifeLock has a twelve month low of $21.55 and a twelve month high of $30.92.

NortonLifeLock (NASDAQ:NLOKGet Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. NortonLifeLock had a net margin of 30.35% and a negative return on equity of 724.13%. The firm had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $709.62 million. During the same quarter in the previous year, the company earned $0.38 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts expect that NortonLifeLock will post 1.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NLOK has been the topic of several research analyst reports. StockNews.com upgraded shares of NortonLifeLock from a “hold” rating to a “buy” rating in a research report on Tuesday, July 19th. Robert W. Baird reduced their price target on shares of NortonLifeLock from $31.00 to $28.00 in a research report on Monday, May 9th. Finally, TheStreet cut shares of NortonLifeLock from a “b-” rating to a “c+” rating in a report on Tuesday, July 5th. Three research 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.com, the stock has a consensus rating of “Hold” and an average price target of $27.25.

Insider Transactions at NortonLifeLock

In other news, Director Peter A. Feld bought 500,000 shares of the company’s stock in a transaction dated Wednesday, June 15th. The shares were purchased at an average price of $22.03 per share, for a total transaction of $11,015,000.00. Following the completion of the purchase, the director now owns 2,024,896 shares in the company, valued at approximately $44,608,458.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Peter A. Feld bought 500,000 shares of the company’s stock in a transaction dated Wednesday, June 15th. The shares were purchased at an average price of $22.03 per share, for a total transaction of $11,015,000.00. Following the completion of the purchase, the director now owns 2,024,896 shares in the company, valued at approximately $44,608,458.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Peter A. Feld bought 1,400,000 shares of the company’s stock in a transaction dated Monday, June 13th. The stock was purchased at an average price of $22.38 per share, for a total transaction of $31,332,000.00. Following the purchase, the director now owns 9,181,938 shares of the company’s stock, valued at approximately $205,491,772.44. The disclosure for this purchase can be found here. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On NortonLifeLock

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Brinker Capital Investments LLC purchased a new stake in NortonLifeLock in the 1st quarter worth approximately $228,000. Lazard Asset Management LLC boosted its stake in NortonLifeLock by 676.8% in the 1st quarter. Lazard Asset Management LLC now owns 9,236 shares of the company’s stock worth $244,000 after purchasing an additional 8,047 shares during the period. Blair William & Co. IL boosted its stake in NortonLifeLock by 15.4% in the 1st quarter. Blair William & Co. IL now owns 12,958 shares of the company’s stock worth $344,000 after purchasing an additional 1,727 shares during the period. Ethic Inc. bought a new position in NortonLifeLock in the 1st quarter worth approximately $351,000. Finally, United Capital Financial Advisers LLC boosted its stake in NortonLifeLock by 7.7% in the 1st quarter. United Capital Financial Advisers LLC now owns 14,061 shares of the company’s stock worth $373,000 after purchasing an additional 1,004 shares during the period. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

About NortonLifeLock

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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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Dividend History for NortonLifeLock (NASDAQ:NLOK)

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