AlphaQuest LLC Trims Position in Gen Digital Inc. $GEN

Key Points

• AlphaQuest LLC cut its stake in Gen Digital Inc. (NASDAQ:GEN) by 81.2%, reducing its holdings to 7,934 shares worth approximately $211,000.
• Gen Digital reported a quarterly earnings per share (EPS) of $0.64, exceeding estimates, with revenue reaching $1.26 billion, marking a 30.3% year-over-year increase.
• Several analysts have recently raised their price targets for Gen Digital, with Barclays setting a new target at $33.00 and Wells Fargo increasing it to $40.00, reflecting positive outlooks on the company's performance.

AlphaQuest LLC trimmed its position in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 81.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,934 shares of the company's stock after selling 34,318 shares during the quarter. AlphaQuest LLC's holdings in Gen Digital were worth $211,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Gen Digital by 132.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 599,821 shares of the company's stock worth $16,039,000 after purchasing an additional 341,533 shares during the period. Mather Group LLC. boosted its holdings in shares of Gen Digital by 26.6% during the first quarter. Mather Group LLC. now owns 3,730 shares of the company's stock worth $99,000 after purchasing an additional 783 shares during the period. Cornerstone Wealth Group LLC bought a new position in Gen Digital during the first quarter valued at approximately $377,000. Wellington Management Group LLP raised its position in Gen Digital by 98.8% during the fourth quarter. Wellington Management Group LLP now owns 114,699 shares of the company's stock valued at $3,140,000 after acquiring an additional 56,993 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its position in Gen Digital by 52.4% during the first quarter. Exchange Traded Concepts LLC now owns 11,146 shares of the company's stock valued at $296,000 after acquiring an additional 3,830 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GEN. Royal Bank Of Canada raised their price objective on shares of Gen Digital from $32.00 to $33.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. B. Riley assumed 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 on the stock. Morgan Stanley upped their price target on Gen Digital from $25.00 to $32.00 and gave the company an "equal weight" rating in a research note on Tuesday. Wall Street Zen cut Gen Digital from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Wells Fargo & Company upped their price target on Gen Digital from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.50.

Gen Digital Trading Down 2.3%

GEN traded down $0.70 during trading on Tuesday, hitting $29.50. The company's stock had a trading volume of 4,106,149 shares, compared to its average volume of 4,237,309. Gen Digital Inc. has a twelve month low of $22.74 and a twelve month high of $32.22. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 3.63. The stock's fifty day moving average price is $30.21 and its 200-day moving average price is $28.24. The firm has a market capitalization of $18.17 billion, a P/E ratio of 30.41, a PEG ratio of 1.01 and a beta of 0.99.

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 the consensus estimate of $0.60 by $0.04. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. Gen Digital had a return on equity of 57.99% and a net margin of 14.12%.Gen Digital's revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. Gen Digital has set its Q2 2026 guidance at 0.600-0.620 EPS. FY 2026 guidance at 2.490-2.560 EPS. Analysts anticipate that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, August 18th. Gen Digital's dividend payout ratio (DPR) is 51.55%.

Gen Digital 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.