Gen Digital Inc. $GEN Shares Sold by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada reduced its Gen Digital position by 30.1% in the second quarter, selling 115,162 shares and retaining 266,947 shares valued at approximately $6.97 million. Institutional investors and hedge funds collectively own 81.38% of GEN.
• Gen Digital exceeded quarterly expectations, reporting adjusted EPS of $0.71 versus the $0.69 consensus and revenue of $1.34 billion, up 6.3% year over year. The company also declared a quarterly dividend of $0.125 per share, representing a 1.6% yield.
• Insiders sold 630,260 shares worth approximately $18.0 million over the past 90 days, while analysts maintain a consensus “Hold” rating with a $31.60 price target.

TD Waterhouse Canada Inc. cut its position in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 30.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 266,947 shares of the company's stock after selling 115,162 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Gen Digital were worth $6,970,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in GEN. Larson Financial Group LLC increased its stake in Gen Digital by 20.9% during the 3rd quarter. Larson Financial Group LLC now owns 2,255 shares of the company's stock worth $64,000 after buying an additional 390 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Gen Digital by 14.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,376 shares of the company's stock worth $64,000 after buying an additional 427 shares in the last quarter. Vident Advisory LLC boosted its position in Gen Digital by 1.6% in the 3rd quarter. Vident Advisory LLC now owns 26,906 shares of the company's stock valued at $764,000 after buying an additional 428 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Gen Digital by 5.9% during the fourth quarter. Fisher Asset Management LLC now owns 7,735 shares of the company's stock valued at $210,000 after acquiring an additional 430 shares in the last quarter. Finally, Huntington National Bank grew its stake in shares of Gen Digital by 9.4% during the fourth quarter. Huntington National Bank now owns 5,216 shares of the company's stock valued at $142,000 after acquiring an additional 448 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Gen Digital Price Performance

GEN opened at $30.65 on Monday. The company has a 50-day moving average of $27.78 and a 200-day moving average of $24.03. The company has a market capitalization of $18.35 billion, a P/E ratio of 17.82, a PEG ratio of 0.97 and a beta of 1.22. Gen Digital Inc. has a 1-year low of $17.78 and a 1-year high of $31.65. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.47 and a current ratio of 0.47.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly 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. The business had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.31 billion. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The company's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 earnings per share. 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. Equities analysts expect that Gen Digital Inc. will post 2.64 EPS for the current fiscal year.

Gen Digital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be paid a dividend of $0.125 per share. The ex-dividend date is Monday, August 17th. This represents a $0.50 annualized dividend and a yield of 1.6%. Gen Digital's dividend payout ratio is presently 29.07%.

Insider Buying and Selling

In other news, Director Ondrej Vlcek sold 200,000 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $30.00, for a total value of $6,000,000.00. Following the completion of the sale, the director directly owned 3,332,904 shares in the company, valued at approximately $99,987,120. The trade was a 5.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Travis Witteveen sold 30,000 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $29.42, for a total value of $882,600.00. Following the sale, the insider directly owned 496,545 shares in the company, valued at approximately $14,608,353.90. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 630,260 shares of company stock worth $17,967,726. 9.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GEN has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price on Gen Digital from $22.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. Weiss Ratings upgraded Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, July 15th. Argus upgraded Gen Digital to a "strong-buy" rating in a research note on Friday, May 22nd. Barclays lifted their price objective on Gen Digital from $27.00 to $32.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Finally, Wall Street Zen lowered Gen Digital from a "buy" rating to a "hold" rating in a research report on Sunday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Gen Digital currently has a consensus rating of "Hold" and a consensus target price of $31.60.

Gen Digital Company Profile

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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