California State Teachers Retirement System Trims Position in Gen Digital Inc. (NASDAQ:GEN)

California State Teachers Retirement System lessened its position in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 9.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 888,619 shares of the company's stock after selling 93,145 shares during the period. California State Teachers Retirement System owned 0.14% of Gen Digital worth $24,330,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. QSM Asset Management Ltd bought a new stake in shares of Gen Digital during the 4th quarter valued at about $5,373,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Gen Digital during the 4th quarter valued at about $14,367,000. Finally, Brighton Jones LLC boosted its stake in shares of Gen Digital by 5.4% during the 4th quarter. Brighton Jones LLC now owns 25,212 shares of the company's stock valued at $690,000 after purchasing an additional 1,299 shares in the last quarter. Institutional investors own 81.38% of the company's stock.

Gen Digital Stock Up 0.2%

Gen Digital stock traded up $0.05 during trading hours on Tuesday, hitting $28.41. The stock had a trading volume of 976,029 shares, compared to its average volume of 3,831,959. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 3.29. The stock has a market capitalization of $17.62 billion, a P/E ratio of 27.85, a price-to-earnings-growth ratio of 1.19 and a beta of 1.00. Gen Digital Inc. has a 12-month low of $22.74 and a 12-month high of $31.72. The stock's 50-day moving average price is $26.35 and its 200-day moving average price is $27.51.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.01. The business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $999.48 million. Gen Digital had a net margin of 16.32% and a return on equity of 58.83%. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share. Equities research analysts anticipate that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Monday, May 19th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a yield of 1.76%. Gen Digital's dividend payout ratio is currently 48.08%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Gen Digital from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Royal Bank of Canada lifted their price target on shares of Gen Digital from $28.00 to $30.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th.

Insider Buying and Selling at Gen Digital

In other news, Director Nora Denzel sold 31,646 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $28.76, for a total value of $910,138.96. Following the completion of the sale, the director now directly owns 34,860 shares of the company's stock, valued at $1,002,573.60. This represents a 47.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.20% of the stock is owned by corporate insiders.

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.