Gen Digital Inc. (NASDAQ:GEN) Shares Purchased by Gallacher Capital Management LLC

Gallacher Capital Management LLC raised its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 223.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 36,359 shares of the company's stock after purchasing an additional 25,101 shares during the period. Gallacher Capital Management LLC's holdings in Gen Digital were worth $965,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of GEN. Penserra Capital Management LLC raised its position in Gen Digital by 33.0% during the first quarter. Penserra Capital Management LLC now owns 2,972,160 shares of the company's stock valued at $78,880,000 after purchasing an additional 736,809 shares during the period. KBC Group NV raised its position in Gen Digital by 32.7% during the first quarter. KBC Group NV now owns 2,769,361 shares of the company's stock valued at $73,499,000 after purchasing an additional 682,530 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Gen Digital during the fourth quarter valued at approximately $14,367,000. Victory Capital Management Inc. raised its position in Gen Digital by 81.1% during the first quarter. Victory Capital Management Inc. now owns 1,006,843 shares of the company's stock valued at $26,722,000 after purchasing an additional 450,955 shares during the period. Finally, Achmea Investment Management B.V. raised its position in Gen Digital by 40.2% during the first quarter. Achmea Investment Management B.V. now owns 1,454,610 shares of the company's stock valued at $38,605,000 after purchasing an additional 417,206 shares during the period. Institutional investors own 81.38% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Evercore ISI initiated coverage on Gen Digital in a research note on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 price objective on the stock. Royal Bank Of Canada increased their target price on Gen Digital from $28.00 to $30.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. B. Riley initiated coverage on Gen Digital in a research report on Monday, July 14th. They set a "buy" rating and a $46.00 target price on the stock. Barclays boosted their target price on Gen Digital from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Finally, Wall Street Zen downgraded Gen Digital from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $33.60.

Insider Activity

In related news, Director Nora Denzel sold 31,646 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $28.76, for a total value of $910,138.96. Following the transaction, the director owned 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 12.20% of the company's stock.

Gen Digital Trading Up 0.8%

Gen Digital stock traded up $0.23 during mid-day trading on Tuesday, hitting $30.52. The company's stock had a trading volume of 2,915,708 shares, compared to its average volume of 3,760,919. The firm has a market capitalization of $18.93 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. Gen Digital Inc. has a 1 year low of $22.74 and a 1 year high of $31.72. 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's fifty day moving average is $29.19 and its two-hundred day moving average is $27.57.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $999.48 million. During the same period in the prior year, the firm earned $0.53 earnings per share. The firm's revenue was up 4.4% compared to the same quarter last year. On average, analysts anticipate that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Monday, May 19th. Gen Digital's payout ratio is currently 48.08%.

Gen Digital 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.