Callan Family Office LLC Takes $1.04 Million Position in Gen Digital Inc. $GEN

Key Points

• Callan Family Office LLC bought a new $1.04 million stake in Gen Digital during the second quarter, purchasing 41,725 shares. Institutional investors collectively own 81.38% of the company.
• Gen Digital exceeded quarterly expectations, reporting $0.71 in adjusted EPS and $1.34 billion in revenue, with revenue up 6.3% year over year. The company also declared a quarterly dividend of $0.125 per share, representing a 1.7% annualized yield.
• Shares recently traded at $29.11, while analysts maintained a generally cautious outlook with a consensus “Hold” rating and a $31.67 price target. Meanwhile, insiders sold 230,440 shares worth approximately $6.17 million over the past three months.

Callan Family Office LLC purchased a new position in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 41,725 shares of the company's stock, valued at approximately $1,039,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew 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 worth $71,757,000 after acquiring an additional 28,522 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of Gen Digital in the 1st quarter worth about $205,000. Woodline Partners LP increased its stake in shares of Gen Digital by 37.8% in the first quarter. Woodline Partners LP now owns 27,590 shares of the company's stock valued at $732,000 after purchasing an additional 7,562 shares during the period. Focus Partners Wealth raised its stake in Gen Digital by 9.7% during the 1st quarter. Focus Partners Wealth now owns 22,347 shares of the company's stock valued at $593,000 after acquiring an additional 1,980 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Gen Digital by 221.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company's stock valued at $46,000 after purchasing an additional 1,183 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Gen Digital Trading Up 0.6%

Shares of GEN opened at $29.11 on Tuesday. The stock has a market cap of $17.42 billion, a PE ratio of 16.92 and a beta of 1.21. The stock has a 50 day simple moving average of $26.59 and a 200-day simple moving average of $23.62. Gen Digital Inc. has a 1 year low of $17.78 and a 1 year high of $31.57. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.00.

Gen Digital (NASDAQ:GEN - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the business earned $0.64 EPS. Gen Digital's revenue was up 6.3% compared to the same quarter last year. Gen Digital has set its FY 2027 guidance at 2.870-2.970 EPS and its Q2 2027 guidance at 0.710-0.730 EPS. On average, sell-side analysts predict that Gen Digital Inc. will post 2.64 EPS for the current fiscal year.

Gen Digital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be given a dividend of $0.125 per share. The ex-dividend date is Monday, August 17th. This represents a $0.50 dividend on an annualized basis and a yield of 1.7%. Gen Digital's dividend payout ratio is presently 29.07%.

Insider Buying and Selling at Gen Digital

In other Gen Digital news, Director Ondrej Vlcek sold 100,000 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total value of $2,478,000.00. Following the transaction, the director owned 3,832,724 shares of the company's stock, valued at approximately $94,974,900.72. This represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Travis Michael Witteveen sold 30,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $29.42, for a total transaction of $882,600.00. Following the completion of the sale, the insider owned 496,545 shares in the company, valued at $14,608,353.90. This represents a 5.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 230,440 shares of company stock worth $6,172,946. Company insiders own 9.70% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on GEN shares. Jefferies Financial Group lowered Gen Digital from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Weiss Ratings raised shares of Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, July 15th. Royal Bank Of Canada increased their price target on shares of Gen Digital from $27.00 to $30.00 and gave the stock a "sector perform" rating in a research report on Friday, August 7th. Argus upgraded Gen Digital to a "strong-buy" rating in a report on Friday, May 22nd. Finally, Wall Street Zen cut shares of Gen Digital from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Gen Digital currently has an average rating of "Hold" and a consensus price target of $31.67.

About Gen Digital

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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