Cornerstone Wealth Group LLC Takes Position in Gen Digital Inc. (NASDAQ:GEN)

Cornerstone Wealth Group LLC purchased a new stake in Gen Digital Inc. (NASDAQ:GEN - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 14,203 shares of the company's stock, valued at approximately $377,000.

Several other large investors have also recently made changes to their positions in the stock. Curat Global LLC purchased a new stake in shares of Gen Digital during the first quarter worth $154,000. Sagespring Wealth Partners LLC acquired a new position in Gen Digital during the 1st quarter worth $212,000. Fort Washington Investment Advisors Inc. OH purchased a new stake in Gen Digital during the 1st quarter worth about $225,000. Merit Financial Group LLC acquired a new stake in Gen Digital in the 1st quarter valued at about $273,000. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Gen Digital by 52.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 11,146 shares of the company's stock valued at $296,000 after buying an additional 3,830 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Gen Digital Stock Up 1.1%

GEN stock traded up $0.32 during trading on Thursday, hitting $29.40. 856,913 shares of the company's stock were exchanged, compared to its average volume of 3,737,607. The business has a 50-day moving average price of $27.78 and a two-hundred day moving average price of $27.42. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 3.51. The stock has a market capitalization of $18.24 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 1.10 and a beta of 1.01. Gen Digital Inc. has a 52-week low of $22.74 and a 52-week high of $31.72.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. Gen Digital had a net margin of 16.34% and a return on equity of 59.38%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $999.48 million. During the same quarter in the previous year, the firm earned $0.53 EPS. The company's revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts expect that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were paid a dividend of $0.125 per share. The ex-dividend date was Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a yield of 1.70%. Gen Digital's dividend payout ratio is presently 48.08%.

Insiders Place Their Bets

In other Gen Digital news, Director Nora Denzel sold 31,646 shares of Gen Digital 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 transaction, the director now directly owns 34,860 shares in the company, valued at approximately $1,002,573.60. The trade was a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on GEN shares. Royal Bank Of Canada raised their target price on shares of Gen Digital from $28.00 to $30.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Morgan Stanley reduced their price objective on shares of Gen Digital from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th.

About Gen Digital

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.