First Hawaiian Bank grew its holdings in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 129.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 75,278 shares of the company's stock after buying an additional 42,488 shares during the quarter. First Hawaiian Bank's holdings in Gen Digital were worth $1,998,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Brighton Jones LLC grew its stake in Gen Digital by 5.4% in the 4th quarter. Brighton Jones LLC now owns 25,212 shares of the company's stock worth $690,000 after acquiring an additional 1,299 shares in the last quarter. Kera Capital Partners Inc. grew its stake in Gen Digital by 41.7% in the first quarter. Kera Capital Partners Inc. now owns 11,777 shares of the company's stock worth $313,000 after purchasing an additional 3,466 shares in the last quarter. Wellington Management Group LLP grew its stake in Gen Digital by 98.8% in the fourth quarter. Wellington Management Group LLP now owns 114,699 shares of the company's stock worth $3,140,000 after purchasing an additional 56,993 shares in the last quarter. QSM Asset Management Ltd bought a new position in Gen Digital in the fourth quarter worth approximately $5,373,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Gen Digital in the fourth quarter worth approximately $14,367,000. Institutional investors own 81.38% of the company's stock.
Gen Digital Stock Up 0.7%
Shares of NASDAQ GEN traded up $0.20 during midday trading on Friday, reaching $28.20. 13,018,095 shares of the company's stock traded hands, compared to its average volume of 3,843,066. 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's 50 day simple moving average is $26.33 and its 200-day simple moving average is $27.56. Gen Digital Inc. has a one year low of $22.74 and a one year high of $31.72. The company has a market cap of $17.49 billion, a price-to-earnings ratio of 27.65, a P/E/G ratio of 1.19 and a beta of 1.00.
Gen Digital (NASDAQ:GEN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $999.48 million. Gen Digital had a return on equity of 58.83% and a net margin of 16.32%. The business's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS. On average, analysts predict that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.
Gen Digital Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Monday, May 19th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Monday, May 19th. Gen Digital's payout ratio is currently 48.08%.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the company. Morgan Stanley dropped their price target on Gen Digital from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Royal Bank of Canada increased their price target on Gen Digital from $28.00 to $30.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 7th.
Check Out Our Latest Research Report on GEN
Insider Activity at Gen Digital
In other Gen Digital news, Director Nora Denzel sold 31,646 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $1,002,573.60. This trade represents a 47.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.20% of the stock is owned by corporate insiders.
About Gen Digital
(
Free Report)
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.
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