AdvisorNet Financial Inc Lowers Stock Position in Gen Digital Inc. $GEN

Key Points

• AdvisorNet Financial Inc drastically reduced its stake in Gen Digital Inc. by 92.9%, selling 41,533 shares during the 2nd quarter and retaining only 3,175 shares.
• Gen Digital reported a 30.3% year-over-year revenue increase, reaching $1.26 billion, and exceeded earnings expectations with $0.64 per share.
• Analysts have mixed ratings on Gen Digital, with an average target price of $36.50, while Wells Fargo & Company set an upgraded price objective of $40.00.

AdvisorNet Financial Inc cut its position in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 92.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,175 shares of the company's stock after selling 41,533 shares during the quarter. AdvisorNet Financial Inc's holdings in Gen Digital were worth $93,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC lifted its position in shares of Gen Digital by 19.2% during the 1st quarter. Rise Advisors LLC now owns 2,361 shares of the company's stock worth $63,000 after buying an additional 381 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its position in shares of Gen Digital by 0.6% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 69,927 shares of the company's stock valued at $1,856,000 after acquiring an additional 427 shares during the last quarter. Alps Advisors Inc. lifted its holdings in Gen Digital by 1.5% during the first quarter. Alps Advisors Inc. now owns 31,540 shares of the company's stock worth $837,000 after acquiring an additional 465 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Gen Digital by 0.7% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 78,602 shares of the company's stock valued at $2,311,000 after purchasing an additional 570 shares during the period. Finally, Greenleaf Trust increased its position in shares of Gen Digital by 3.9% during the 1st quarter. Greenleaf Trust now owns 18,001 shares of the company's stock valued at $478,000 after purchasing an additional 668 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GEN has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price objective on shares of Gen Digital from $37.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Barclays upped their price objective on Gen Digital from $32.00 to $33.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. Evercore ISI assumed coverage on Gen Digital in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 target price for the company. Morgan Stanley boosted their target price on Gen Digital from $25.00 to $32.00 and gave the company an "equal weight" rating in a research note on Tuesday, September 2nd. Finally, Wall Street Zen downgraded Gen Digital from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $36.50.

Gen Digital Trading Up 1.1%

Shares of GEN stock opened at $28.80 on Friday. The stock has a market capitalization of $17.74 billion, a price-to-earnings ratio of 29.69, a PEG ratio of 0.96 and a beta of 0.99. The company's fifty day simple moving average is $29.97 and its two-hundred day simple moving average is $28.44. Gen Digital Inc. has a 1 year low of $22.74 and a 1 year high of $32.22. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.50 and a quick ratio of 0.50.

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 for the quarter, beating the consensus estimate of $0.60 by $0.04. Gen Digital had a return on equity of 57.99% and a net margin of 14.12%.The company had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The firm's quarterly revenue was up 30.3% compared to the same quarter last year. 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, analysts anticipate that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Gen Digital's 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.