Kendall Capital Management Boosts Stock Position in Gen Digital Inc. (NASDAQ:GEN)

Kendall Capital Management grew its position in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 20.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,640 shares of the company's stock after purchasing an additional 10,105 shares during the quarter. Kendall Capital Management's holdings in Gen Digital were worth $1,609,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GEN. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Gen Digital in the fourth quarter worth approximately $14,367,000. QSM Asset Management Ltd bought a new stake in shares of Gen Digital in the 4th quarter worth approximately $5,373,000. Brighton Jones LLC boosted its stake in shares of Gen Digital by 5.4% in the 4th quarter. Brighton Jones LLC now owns 25,212 shares of the company's stock valued at $690,000 after purchasing an additional 1,299 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of 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 purchasing an additional 56,993 shares in the last quarter. Finally, Kera Capital Partners Inc. grew its holdings in shares of Gen Digital by 41.7% during the 1st quarter. Kera Capital Partners Inc. now owns 11,777 shares of the company's stock valued at $313,000 after purchasing an additional 3,466 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Gen Digital Stock Down 0.6%

Shares of NASDAQ GEN opened at $29.28 on Monday. The firm's fifty day moving average is $27.98 and its 200 day moving average is $27.38. Gen Digital Inc. has a 52 week low of $22.74 and a 52 week high of $31.72. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 3.51. The company has a market cap of $18.16 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 1.09 and a beta of 1.01.

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

Gen Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were paid a dividend of $0.125 per share. The ex-dividend date was Monday, May 19th. This represents a $0.50 annualized dividend and a dividend yield of 1.71%. Gen Digital's dividend payout ratio (DPR) is presently 48.08%.

Insider Activity

In other news, Director Nora Denzel sold 31,646 shares of Gen Digital stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $28.76, for a total transaction of $910,138.96. Following the sale, the director now owns 34,860 shares of the company's stock, valued at approximately $1,002,573.60. The trade was a 47.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 12.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GEN. Royal Bank Of Canada boosted their price target on shares of Gen Digital from $28.00 to $30.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. Morgan Stanley lowered their target price on Gen Digital from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Wall Street Zen upgraded Gen Digital from a "buy" rating to a "strong-buy" rating in a report on Friday. Two analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Gen Digital has a consensus rating of "Buy" and a consensus target price of $27.50.

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.

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