Gen Digital Inc. $GEN Shares Purchased by Gotham Asset Management LLC

Key Points

• Gotham Asset Management LLC increased its stake in Gen Digital Inc. by 16.7%, acquiring an additional 158,317 shares, bringing its total holdings to over 1.1 million shares valued at approximately $29.3 million.
• Gen Digital reported a 30.3% year-over-year revenue growth, with quarterly earnings per share of $0.64, surpassing analysts' estimates of $0.60.
• The company has declared a quarterly dividend of $0.125 per share, expected to be paid on September 10th, representing an annual yield of 1.7%.

Gotham Asset Management LLC increased its holdings in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 16.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,104,185 shares of the company's stock after purchasing an additional 158,317 shares during the period. Gen Digital accounts for about 0.2% of Gotham Asset Management LLC's holdings, making the stock its 26th biggest holding. Gotham Asset Management LLC owned approximately 0.18% of Gen Digital worth $29,305,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in Gen Digital by 132.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 599,821 shares of the company's stock worth $16,039,000 after purchasing an additional 341,533 shares during the period. Mather Group LLC. boosted its position 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 during the last quarter. Cornerstone Wealth Group LLC purchased a new position in Gen Digital in the 1st quarter valued at about $377,000. Wellington Management Group LLP boosted its position in Gen Digital by 98.8% in the 4th quarter. Wellington Management Group LLP now owns 114,699 shares of the company's stock valued at $3,140,000 after buying an additional 56,993 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Gen Digital by 52.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 11,146 shares of the company's stock valued at $296,000 after buying an additional 3,830 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Evercore ISI assumed coverage on shares of Gen Digital in a research report on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price target on the stock. Barclays increased their price target on shares of Gen Digital from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Wall Street Zen cut shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Morgan Stanley increased their price target on shares of Gen Digital from $25.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Tuesday, September 2nd. Finally, Wells Fargo & Company increased their price target on shares of Gen Digital from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $36.50.

Gen Digital Price Performance

NASDAQ:GEN traded down $0.44 during midday trading on Tuesday, hitting $29.47. 3,004,617 shares of the stock were exchanged, compared to its average volume of 4,109,930. Gen Digital Inc. has a one year low of $22.74 and a one year high of $32.22. The company has a market capitalization of $18.15 billion, a price-to-earnings ratio of 30.38, a P/E/G ratio of 0.99 and a beta of 0.99. The business has a 50-day moving average price of $30.24 and a two-hundred day moving average price of $28.31. 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 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. Gen Digital had a return on equity of 57.99% and a net margin of 14.12%.The firm had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the previous year, the company earned $0.53 earnings per share. The firm's quarterly revenue was up 30.3% compared to the same quarter last year. 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 predict that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Dividend Announcement

The company 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 yield of 1.7%. 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.