National Bank of Canada FI Acquires 21,423 Shares of Gen Digital Inc. (NASDAQ:GEN)

Key Points

• National Bank of Canada FI increased its position in Gen Digital Inc. by 7.3% during the first quarter, owning approximately $8.38 million worth of stock.
• Gen Digital reported a quarterly earnings per share (EPS) of $0.64, surpassing analysts' expectations and achieving a revenue of $1.26 billion, which represents a 30.3% increase from the same quarter last year.
• The company announced a quarterly dividend of $0.125 per share, resulting in an annualized dividend yield of 1.6%.

National Bank of Canada FI grew its position in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 7.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 315,621 shares of the company's stock after acquiring an additional 21,423 shares during the quarter. National Bank of Canada FI owned 0.05% of Gen Digital worth $8,376,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Alps Advisors Inc. raised its stake in Gen Digital by 1.5% in the 1st quarter. Alps Advisors Inc. now owns 31,540 shares of the company's stock valued at $837,000 after acquiring an additional 465 shares during the period. Greenleaf Trust raised its stake in Gen Digital by 3.9% in the 1st quarter. Greenleaf Trust now owns 18,001 shares of the company's stock valued at $478,000 after acquiring an additional 668 shares during the period. Mather Group LLC. raised its stake 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 acquiring an additional 783 shares during the period. Catalyst Capital Advisors LLC raised 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 acquiring an additional 854 shares during the period. Finally, Empirical Finance LLC raised its stake in Gen Digital by 4.5% in the 1st quarter. Empirical Finance LLC now owns 20,151 shares of the company's stock valued at $535,000 after acquiring an additional 863 shares during the period. Institutional investors and hedge funds own 81.38% of the company's stock.

Gen Digital Price Performance

Shares of NASDAQ GEN traded down $0.04 during mid-day trading on Friday, reaching $31.47. The company had a trading volume of 3,274,486 shares, compared to its average volume of 3,853,979. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.51 and a current ratio of 0.50. Gen Digital Inc. has a one year low of $22.74 and a one year high of $32.22. The firm has a market cap of $19.38 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 1.05 and a beta of 1.00. The business's 50-day simple moving average is $29.90 and its 200 day simple moving average is $27.97.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.04. Gen Digital had a return on equity of 57.99% and a net margin of 14.12%. The company had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter last year, the business earned $0.53 earnings per share. Gen Digital's revenue was up 30.3% on a year-over-year basis. On average, research analysts predict that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, August 18th. Gen Digital's payout ratio is currently 51.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. B. Riley began coverage on Gen Digital in a research note on Monday, July 14th. They issued a "buy" rating and a $46.00 price target on the stock. Wells Fargo & Company increased their price objective on Gen Digital from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Evercore ISI began coverage on Gen Digital in a research report on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price objective on the stock. Barclays increased their price objective on Gen Digital from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Finally, Wall Street Zen cut Gen Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $35.33.

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.