Charles Schwab Investment Management Inc. Acquires 32,870 Shares of Gen Digital Inc. (NASDAQ:GEN)

Charles Schwab Investment Management Inc. increased its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,370,678 shares of the company's stock after purchasing an additional 32,870 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.55% of Gen Digital worth $89,458,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Gen Digital in the fourth quarter worth $14,367,000. QSM Asset Management Ltd acquired a new stake in Gen Digital in the fourth quarter worth $5,373,000. Brighton Jones LLC raised its holdings in Gen Digital by 5.4% in the fourth quarter. Brighton Jones LLC now owns 25,212 shares of the company's stock worth $690,000 after purchasing an additional 1,299 shares during the period. Wellington Management Group LLP raised its holdings 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 during the period. Finally, Kera Capital Partners Inc. raised its holdings in shares of Gen Digital by 41.7% during the first quarter. Kera Capital Partners Inc. now owns 11,777 shares of the company's stock worth $313,000 after acquiring an additional 3,466 shares during the period. 81.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GEN shares. B. Riley started coverage on shares of Gen Digital in a report on Monday, July 14th. They set a "buy" rating and a $46.00 price objective on the stock. Barclays lifted their price target on shares of Gen Digital from $32.00 to $33.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. Evercore ISI started coverage on shares of Gen Digital in a research note on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 price target on the stock. Wall Street Zen lowered shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Wells Fargo & Company lifted their price objective on shares of Gen Digital from $37.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $35.33.

Gen Digital Stock Performance

Shares of GEN stock traded down $0.04 during midday trading on Friday, hitting $31.47. 3,274,486 shares of the company were exchanged, compared to its average volume of 3,853,979. The firm has a market capitalization of $19.38 billion, a P/E ratio of 32.44, a PEG ratio of 1.06 and a beta of 1.00. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.51 and a current ratio of 0.50. The firm's 50 day moving average price is $29.90 and its two-hundred day moving average price is $27.97. Gen Digital Inc. has a 52 week low of $22.74 and a 52 week high of $32.22.

Gen Digital (NASDAQ:GEN - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.64 EPS for the quarter, topping the consensus estimate 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 net margin of 14.12% and a return on equity of 57.99%. Gen Digital's revenue was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 EPS. As a group, equities research analysts anticipate that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $0.50 annualized dividend and a dividend yield of 1.6%. Gen Digital's payout ratio is presently 51.55%.

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.