Gen Digital Inc. (NASDAQ:GEN) is Iridian Asset Management LLC CT's 10th Largest Position

Iridian Asset Management LLC CT trimmed its position in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 6.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 413,578 shares of the company's stock after selling 27,914 shares during the period. Gen Digital makes up approximately 3.4% of Iridian Asset Management LLC CT's investment portfolio, making the stock its 10th largest holding. Iridian Asset Management LLC CT owned 0.07% of Gen Digital worth $10,976,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GEN. Catalyst Capital Advisors LLC lifted its stake in Gen Digital by 117.6% in the 1st quarter. Catalyst Capital Advisors LLC now owns 1,580 shares of the company's stock valued at $42,000 after purchasing an additional 854 shares during the last quarter. Tsfg LLC acquired a new stake in Gen Digital in the 1st quarter worth about $52,000. Mather Group LLC. boosted its stake in shares of Gen Digital by 26.6% in the first 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 period. Curat Global LLC acquired a new stake in shares of Gen Digital during the 1st quarter worth $154,000. Finally, Sagespring Wealth Partners LLC bought a new position in Gen Digital in the 1st quarter valued at about $212,000. 81.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Nora Denzel sold 31,646 shares of Gen Digital stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $28.76, for a total value of $910,138.96. Following the completion of the transaction, the director directly owned 34,860 shares in the company, valued at approximately $1,002,573.60. The trade was a 47.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.20% of the company's stock.

Gen Digital Stock Up 0.7%

GEN stock traded up $0.22 during trading on Wednesday, reaching $30.16. The stock had a trading volume of 2,991,311 shares, compared to its average volume of 3,749,340. The company's 50 day moving average is $28.70 and its two-hundred day moving average is $27.45. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 3.51. Gen Digital Inc. has a one year low of $22.74 and a one year high of $31.72. The company has a market capitalization of $18.71 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 1.12 and a beta of 1.01.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $999.48 million. During the same period in the previous year, the business posted $0.53 EPS. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. Equities research analysts forecast that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were issued a $0.125 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.66%. Gen Digital's dividend payout ratio (DPR) is presently 48.08%.

Analyst Ratings Changes

Several analysts recently weighed in on GEN shares. Royal Bank Of Canada raised their price objective on Gen Digital from $28.00 to $30.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 7th. Wall Street Zen lowered shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a report on Saturday. Evercore ISI began coverage on Gen Digital in a research note on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 price objective on the stock. Finally, Morgan Stanley cut their target price on shares of Gen Digital from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $30.00.

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.