Gen Digital Inc. $GEN Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. has reduced its stake in Gen Digital Inc. by 17.0%, now holding approximately 6.17 million shares worth $163.88 million.
• Vanguard Group Inc. increased its ownership of Gen Digital shares by 3.7%, bringing its total to nearly 69.69 million shares, valued at about $1.85 billion.
• Gen Digital has announced a quarterly dividend of $0.125 per share, resulting in an annualized dividend yield of 1.7%, payable on September 10th to shareholders on record as of August 18th.

Alliancebernstein L.P. decreased its position in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 17.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,174,837 shares of the company's stock after selling 1,266,189 shares during the quarter. Alliancebernstein L.P. owned 1.00% of Gen Digital worth $163,880,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GEN. Catalyst Capital Advisors LLC boosted its stake in shares of Gen Digital by 117.6% during the 1st quarter. Catalyst Capital Advisors LLC now owns 1,580 shares of the company's stock worth $42,000 after acquiring an additional 854 shares in the last quarter. Tsfg LLC purchased a new stake in Gen Digital in the 1st quarter valued at approximately $52,000. Capital Analysts LLC purchased a new stake in Gen Digital in the 1st quarter valued at approximately $85,000. Mather Group LLC. lifted its stake in Gen Digital by 26.6% in the 1st quarter. Mather Group LLC. now owns 3,730 shares of the company's stock valued at $99,000 after buying an additional 783 shares in the last quarter. Finally, Curat Global LLC purchased a new stake in Gen Digital in the 1st quarter valued at approximately $154,000. Hedge funds and other institutional investors own 81.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Gen Digital from $37.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Wall Street Zen lowered Gen Digital from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. B. Riley assumed coverage on Gen Digital in a research note on Monday, July 14th. They issued a "buy" rating and a $46.00 target price on the stock. Barclays upped their target price on Gen Digital from $32.00 to $33.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. Finally, Royal Bank Of Canada upped their target price on Gen Digital from $32.00 to $33.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $36.50.

Gen Digital Trading Up 0.5%

Shares of Gen Digital stock traded up $0.14 during trading hours on Wednesday, reaching $29.61. 1,034,880 shares of the company's stock were exchanged, compared to its average volume of 4,091,028. Gen Digital Inc. has a 52-week low of $22.74 and a 52-week high of $32.22. The firm has a market capitalization of $18.23 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 1.01 and a beta of 0.99. The company has a fifty day moving average of $30.23 and a 200-day moving average of $28.32. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 3.63.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.04. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. Gen Digital had a return on equity of 57.99% and a net margin of 14.12%.The business's revenue for the quarter was up 30.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. Gen Digital has set its Q2 2026 guidance at 0.600-0.620 EPS. FY 2026 guidance at 2.490-2.560 EPS. Sell-side analysts forecast that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, August 18th. Gen Digital's dividend payout ratio is presently 51.55%.

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.