Machina Capital S.A.S. Purchases 24,903 Shares of Gen Digital Inc. (NASDAQ:GEN)

Machina Capital S.A.S. boosted its holdings in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 47.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,415 shares of the company's stock after acquiring an additional 24,903 shares during the quarter. Machina Capital S.A.S.'s holdings in Gen Digital were worth $2,055,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of GEN. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Gen Digital in the 4th quarter worth $14,367,000. QSM Asset Management Ltd purchased a new stake in Gen Digital in the fourth quarter worth approximately $5,373,000. Brighton Jones LLC grew its position in Gen Digital by 5.4% during the fourth quarter. Brighton Jones LLC now owns 25,212 shares of the company's stock valued at $690,000 after acquiring an additional 1,299 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Gen Digital by 98.8% during the fourth quarter. Wellington Management Group LLP now owns 114,699 shares of the company's stock worth $3,140,000 after acquiring an additional 56,993 shares in the last quarter. Finally, Kera Capital Partners Inc. lifted its holdings in shares of Gen Digital by 41.7% in the 1st 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 last quarter. Institutional investors own 81.38% of the company's stock.

Gen Digital Stock Up 0.3%

Shares of NASDAQ:GEN traded up $0.09 during midday trading on Friday, reaching $30.61. The company's stock had a trading volume of 1,918,417 shares, compared to its average volume of 3,290,769. Gen Digital Inc. has a 12-month low of $22.74 and a 12-month high of $31.72. The firm has a market capitalization of $18.99 billion, a P/E ratio of 29.43, a PEG ratio of 1.12 and a beta of 1.01. The firm has a 50 day moving average of $29.36 and a 200-day moving average of $27.68. 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 (NASDAQ:GEN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.01. Gen Digital had a net margin of 16.34% and a return on equity of 59.38%. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $999.48 million. During the same quarter last year, the company posted $0.53 earnings per share. The firm's quarterly revenue was up 4.4% on a year-over-year basis. On average, 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 disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.63%. Gen Digital's payout ratio is currently 48.08%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays lifted their price objective on Gen Digital from $30.00 to $32.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Evercore ISI assumed coverage on Gen Digital in a research note on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price objective for the company. Wall Street Zen downgraded shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Royal Bank Of Canada raised their price target on shares of Gen Digital from $28.00 to $30.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. Finally, B. Riley started coverage on shares of Gen Digital in a research note on Monday, July 14th. They set a "buy" rating and a $46.00 price objective for the company. Three analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Gen Digital has a consensus rating of "Moderate Buy" and an average price target of $33.60.

Insider Activity

In other Gen Digital 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 transaction of $910,138.96. Following the transaction, the director owned 34,860 shares of the company's stock, valued at $1,002,573.60. The trade was a 47.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.20% of the company's stock.

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.