147,286 Shares in Gen Digital Inc. $GEN Bought by Abacus FCF Advisors LLC

Key Points

• Abacus FCF Advisors purchased 147,286 Gen Digital shares in the second quarter, valued at approximately $3.7 million. Institutional investors collectively own 81.38% of the company.
• Gen Digital exceeded quarterly expectations, reporting $0.71 in adjusted EPS and $1.34 billion in revenue, up 6.3% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $31.67.
• The company declared a quarterly dividend of $0.125 per share, equivalent to an annualized $0.50 payout and a 1.8% yield. Gen Digital shares opened at $27.54, compared with a 52-week range of $17.78 to $31.88.

Abacus FCF Advisors LLC purchased a new stake in Gen Digital Inc. (NASDAQ:GEN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 147,286 shares of the company's stock, valued at approximately $3,666,000.

Several other institutional investors have also recently made changes to their positions in GEN. Assenagon Asset Management S.A. bought a new position in Gen Digital in the second quarter worth approximately $25,920,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Gen Digital by 9.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,155,639 shares of the company's stock valued at $30,128,000 after acquiring an additional 102,345 shares in the last quarter. Legal & General Group Plc raised its position in shares of Gen Digital by 3.8% during the fourth quarter. Legal & General Group Plc now owns 9,085,216 shares of the company's stock worth $247,027,000 after purchasing an additional 334,156 shares during the period. National Pension Service raised its position in shares of Gen Digital by 13.6% during the fourth quarter. National Pension Service now owns 934,892 shares of the company's stock worth $25,420,000 after purchasing an additional 112,136 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Gen Digital by 17.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 384,754 shares of the company's stock worth $7,245,000 after purchasing an additional 58,319 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Barclays lifted their price target on shares of Gen Digital from $27.00 to $32.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. Wells Fargo & Company raised their price objective on shares of Gen Digital from $22.00 to $28.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. Weiss Ratings upgraded shares of Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, July 15th. Argus raised shares of Gen Digital to a "strong-buy" rating in a research report on Friday, May 22nd. Finally, Wall Street Zen lowered shares of Gen Digital from a "buy" rating to a "hold" rating in a report on Sunday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $31.67.

Insider Buying and Selling at Gen Digital

In other Gen Digital news, Director Ondrej Vlcek sold 100,000 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total transaction of $2,478,000.00. Following the sale, the director owned 3,832,724 shares in the company, valued at $94,974,900.72. This represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John C. Chrystal purchased 3,000 shares of the business's stock in a transaction dated Thursday, June 4th. The stock was bought at an average cost of $27.06 per share, with a total value of $81,180.00. Following the completion of the acquisition, the director directly owned 31,419 shares of the company's stock, valued at approximately $850,198.14. This trade represents a 10.56% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 130,440 shares of company stock worth $3,372,946 over the last ninety days. 9.70% of the stock is currently owned by company insiders.

Gen Digital Stock Performance

NASDAQ GEN opened at $27.54 on Thursday. Gen Digital Inc. has a 1 year low of $17.78 and a 1 year high of $31.88. The company has a debt-to-equity ratio of 3.00, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market cap of $16.49 billion, a price-to-earnings ratio of 16.01 and a beta of 1.21. The company has a fifty day moving average price of $26.31 and a 200-day moving average price of $23.50.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.02. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the firm earned $0.64 earnings per share. The firm's revenue was up 6.3% on a year-over-year basis. Gen Digital has set its FY 2027 guidance at 2.870-2.970 EPS and its Q2 2027 guidance at 0.710-0.730 EPS. As a group, equities research analysts predict that Gen Digital Inc. will post 2.64 EPS for the current fiscal year.

Gen Digital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 17th will be paid a $0.125 dividend. The ex-dividend date is Monday, August 17th. This represents a $0.50 annualized dividend and a yield of 1.8%. Gen Digital's dividend payout ratio is presently 29.07%.

Gen Digital Profile

Gen Digital NASDAQ: GEN is a global cybersecurity company specializing in consumer- and small-business-focused security, privacy, and identity protection solutions. The company offers a suite of products designed to safeguard devices, networks, and personal information against malware, ransomware, phishing attacks and other digital threats. With a focus on user-friendly interfaces and cross-platform compatibility, Gen Digital develops antivirus software, VPN services, parental controls, password management tools, and comprehensive identity-theft monitoring services.

Gen Digital traces its origins to the consumer software division of Symantec Corporation, which was spun off in late 2019 under the NortonLifeLock name.

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