Adage Capital Partners GP L.L.C. Lowers Stock Holdings in Gen Digital Inc. $GEN

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in Gen Digital Inc. by 8.1%, selling 31,600 shares during the 1st quarter and retaining 360,017 shares worth approximately $9.55 million.
• Gen Digital recently reported a quarterly earnings per share of $0.64, surpassing the estimated $0.60, with revenue of $1.26 billion, which is a 30.3% increase from the previous year.
• The company has declared a quarterly dividend of $0.125, representing an annualized dividend yield of 1.7%, with a payout ratio of 51.55%.

Adage Capital Partners GP L.L.C. decreased its position in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360,017 shares of the company's stock after selling 31,600 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.06% of Gen Digital worth $9,555,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GEN. Nuveen LLC bought a new stake in shares of Gen Digital in the 1st quarter worth $299,562,000. Boston Partners grew its stake in shares of Gen Digital by 37.3% in the 1st quarter. Boston Partners now owns 13,358,167 shares of the company's stock worth $354,456,000 after acquiring an additional 3,631,052 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Gen Digital by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 69,690,768 shares of the company's stock worth $1,849,593,000 after acquiring an additional 2,513,464 shares in the last quarter. Northern Trust Corp grew its stake in shares of Gen Digital by 14.3% in the 1st quarter. Northern Trust Corp now owns 7,689,268 shares of the company's stock worth $204,073,000 after acquiring an additional 962,228 shares in the last quarter. Finally, Todd Asset Management LLC bought a new stake in shares of Gen Digital in the 1st quarter worth $25,432,000. Institutional investors own 81.38% of the company's stock.

Wall Street Analysts Forecast Growth

GEN has been the subject of several research reports. Royal Bank Of Canada increased their price target on shares of Gen Digital from $32.00 to $33.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. Wall Street Zen lowered shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Wells Fargo & Company increased their price target on shares of Gen Digital from $37.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Barclays increased their price target on shares of Gen Digital from $32.00 to $33.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. Finally, B. Riley started coverage on shares of Gen Digital in a research report on Monday, July 14th. They set a "buy" rating and a $46.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.50.

Gen Digital Stock Performance

NASDAQ:GEN traded down $0.53 on Friday, reaching $29.14. 2,865,835 shares of the company's stock were exchanged, compared to its average volume of 3,420,315. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.50 and a quick ratio of 0.50. The firm has a market cap of $17.95 billion, a price-to-earnings ratio of 30.04, a P/E/G ratio of 1.00 and a beta of 0.99. Gen Digital Inc. has a 52 week low of $22.74 and a 52 week high of $32.22. The stock has a fifty day simple moving average of $30.18 and a 200-day simple moving average of $28.35.

Gen Digital (NASDAQ:GEN - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.04. Gen Digital had a net margin of 14.12% and a return on equity of 57.99%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the firm posted $0.53 earnings per share. The company's revenue for the quarter was up 30.3% on a year-over-year basis. Gen Digital has set its Q2 2026 guidance at 0.600-0.620 EPS. FY 2026 guidance at 2.490-2.560 EPS. As a group, sell-side analysts predict that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Gen Digital's dividend payout ratio is presently 51.55%.

Gen Digital Company Profile

Gen Digital Inc engages in the provision of cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers security and performance products under Norton, Avast, Avira, AVG, and CCleaner brands that provide real-time protection and maintenance for PCs, Macs, and mobile devices against malware, viruses, adware, and other online threats.