Gen Digital Inc. $GEN Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC reduced its stake in Gen Digital Inc. by 37.3% in the first quarter, now holding shares worth $642,000.
• Gen Digital reported a 30.3% year-over-year increase in revenue, with quarterly earnings exceeding consensus estimates, posting an EPS of $0.64.
• The company declared a quarterly dividend of $0.125 per share, representing a 1.7% dividend yield for stockholders of record on August 18th.

HighTower Advisors LLC reduced its holdings in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 37.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,195 shares of the company's stock after selling 14,371 shares during the quarter. HighTower Advisors LLC's holdings in Gen Digital were worth $642,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Nuveen LLC acquired a new stake in shares of Gen Digital in the first quarter valued at about $299,562,000. Vanguard Group Inc. lifted its position in shares of Gen Digital by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 69,690,768 shares of the company's stock valued at $1,849,593,000 after acquiring an additional 2,513,464 shares during the period. Todd Asset Management LLC acquired a new stake in shares of Gen Digital during the 1st quarter valued at approximately $25,432,000. Penserra Capital Management LLC lifted its position in shares of Gen Digital by 33.0% during the 1st quarter. Penserra Capital Management LLC now owns 2,972,160 shares of the company's stock valued at $78,880,000 after acquiring an additional 736,809 shares during the period. Finally, KBC Group NV lifted its position in shares of Gen Digital by 32.7% during the 1st quarter. KBC Group NV now owns 2,769,361 shares of the company's stock valued at $73,499,000 after acquiring an additional 682,530 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Gen Digital Trading Down 2.3%

Shares of NASDAQ:GEN traded down $0.70 during trading on Tuesday, reaching $29.50. The stock had a trading volume of 4,106,149 shares, compared to its average volume of 4,141,002. The business has a fifty day moving average price of $30.21 and a 200-day moving average price of $28.23. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 3.63. The stock has a market cap of $18.17 billion, a P/E ratio of 30.41, a PEG ratio of 1.01 and a beta of 0.99. Gen Digital Inc. has a fifty-two week low of $22.74 and a fifty-two week high of $32.22.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.04. The company 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%.Gen Digital's revenue was up 30.3% on a year-over-year basis. During the same period in the previous 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. As a group, analysts anticipate that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen cut Gen Digital from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Morgan Stanley lifted their price target on Gen Digital from $25.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Barclays lifted their target price 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. Evercore ISI assumed coverage on Gen Digital in a research report on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price objective for the company. Finally, Royal Bank Of Canada lifted their price objective on Gen Digital from $32.00 to $33.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $36.50.

About Gen Digital

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.