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Tealwood Asset Management Inc. Decreases Position in NortonLifeLock Inc. (NASDAQ:NLOK)

Financial News Live · Sep 29, 2022 12:44

Tealwood Asset Management Inc. trimmed its stake in shares of NortonLifeLock Inc. (NASDAQ:NLOK – Get Rating) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 111,347 shares of the company's stock after selling 1,774 shares during the period. NortonLifeLock makes up 1.2% of Tealwood Asset Management Inc.'s investment portfolio, making the stock its 15th largest holding. Tealwood Asset Management Inc.'s holdings in NortonLifeLock were worth $2,445,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Private Advisor Group LLC grew its position in NortonLifeLock by 15.6% during the fourth quarter. Private Advisor Group LLC now owns 20,740 shares of the company's stock valued at $539,000 after buying an additional 2,793 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of NortonLifeLock by 30.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,089 shares of the company's stock worth $184,000 after purchasing an additional 1,663 shares during the period. State Street Corp boosted its position in shares of NortonLifeLock by 3.8% in the fourth quarter. State Street Corp now owns 25,944,974 shares of the company's stock worth $674,050,000 after purchasing an additional 953,733 shares during the period. Bridgewater Associates LP bought a new position in shares of NortonLifeLock in the fourth quarter worth approximately $878,000. Finally, Guggenheim Capital LLC boosted its position in shares of NortonLifeLock by 23.0% in the fourth quarter. Guggenheim Capital LLC now owns 78,381 shares of the company's stock worth $2,037,000 after purchasing an additional 14,633 shares during the period. 94.86% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at NortonLifeLock

In other NortonLifeLock news, President Ondrej Vlcek purchased 456,475 shares of the firm's stock in a transaction that occurred on Thursday, September 15th. The shares were bought at an average price of $21.91 per share, with a total value of $10,001,367.25. Following the completion of the purchase, the president now directly owns 3,453,198 shares in the company, valued at $75,659,568.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. TheStreet lowered shares of NortonLifeLock from a "b-" rating to a "c+" rating in a research report on Tuesday, July 5th. StockNews.com lowered shares of NortonLifeLock from a "buy" rating to a "hold" rating in a research report on Tuesday. Finally, Barclays dropped their price target on shares of NortonLifeLock to $28.00 in a research report on Tuesday, August 9th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, NortonLifeLock currently has an average rating of "Hold" and an average target price of $27.40.

NortonLifeLock Trading Down 1.8 %

Shares of NASDAQ:NLOK traded down $0.37 during midday trading on Thursday, reaching $20.58. 46,450 shares of the company were exchanged, compared to its average volume of 6,843,061. The business's fifty day moving average is $23.20 and its two-hundred day moving average is $24.28. NortonLifeLock Inc. has a one year low of $20.33 and a one year high of $30.92. The stock has a market cap of $11.76 billion, a PE ratio of 14.65 and a beta of 0.71.

NortonLifeLock (NASDAQ:NLOK – Get Rating) last issued its earnings results on Thursday, August 4th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. NortonLifeLock had a net margin of 30.35% and a negative return on equity of 565.66%. The firm had revenue of $708.00 million during the quarter, compared to analyst estimates of $711.32 million. As a group, sell-side analysts expect that NortonLifeLock Inc. will post 1.69 EPS for the current year.

NortonLifeLock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Monday, August 22nd were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend was Friday, August 19th. NortonLifeLock's payout ratio is 34.97%.

NortonLifeLock Company Profile

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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.