Andra AP fonden Trims Stock Position in Gen Digital Inc. $GEN

Andra AP fonden lessened its stake in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 53.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 679,072 shares of the company's stock after selling 780,528 shares during the period. Andra AP fonden owned 0.11% of Gen Digital worth $18,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in shares of Gen Digital by 1.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,703,712 shares of the company's stock valued at $71,757,000 after purchasing an additional 28,522 shares during the period. Great Lakes Advisors LLC purchased a new position in Gen Digital during the 1st quarter worth approximately $205,000. Woodline Partners LP increased its position in Gen Digital by 37.8% during the first quarter. Woodline Partners LP now owns 27,590 shares of the company's stock worth $732,000 after buying an additional 7,562 shares during the period. Focus Partners Wealth increased its position in Gen Digital by 9.7% during the first quarter. Focus Partners Wealth now owns 22,347 shares of the company's stock worth $593,000 after buying an additional 1,980 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in Gen Digital by 221.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company's stock valued at $46,000 after buying an additional 1,183 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

Insiders Place Their Bets

In other news, Director John C. Chrystal acquired 3,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were purchased at an average cost of $27.06 per share, for a total transaction of $81,180.00. Following the transaction, the director directly owned 31,419 shares in the company, valued at approximately $850,198.14. This represents a 10.56% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 9.30% of the stock is currently owned by company insiders.

Gen Digital Price Performance

Shares of NASDAQ:GEN opened at $23.94 on Friday. The company has a 50-day simple moving average of $22.02 and a 200-day simple moving average of $23.60. Gen Digital Inc. has a one year low of $17.78 and a one year high of $32.22. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market capitalization of $14.42 billion, a price-to-earnings ratio of 15.15 and a beta of 1.21.

Gen Digital (NASDAQ:GEN - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.02. Gen Digital had a net margin of 19.46% and a return on equity of 55.47%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the firm posted $0.59 EPS. Gen Digital's quarterly revenue was up 27.0% on a year-over-year basis. Gen Digital has set its Q1 2027 guidance at 0.680-0.700 EPS and its FY 2027 guidance at 2.850-2.950 EPS. On average, analysts predict that Gen Digital Inc. will post 2.59 EPS for the current year.

Gen Digital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 18th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Monday, May 18th. Gen Digital's dividend payout ratio (DPR) is 31.65%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GEN shares. Wall Street Zen upgraded shares of Gen Digital from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Barclays lifted their target price on shares of Gen Digital from $26.00 to $27.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Zacks Research raised shares of Gen Digital from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 18th. Argus raised shares of Gen Digital to a "strong-buy" rating in a report on Friday, May 22nd. Finally, Royal Bank Of Canada upped their target price on shares of Gen Digital from $22.00 to $24.00 and gave the company a "sector perform" rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $31.29.

Gen Digital Company 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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