Oppenheimer Asset Management Inc. Buys Shares of 45,708 Gen Digital Inc. $GEN

Key Points

• Oppenheimer Asset Management initiated a position in Gen Digital by purchasing 45,708 shares worth approximately $1.14 million. Institutional investors collectively own 81.38% of the company.
• Gen Digital exceeded quarterly expectations, reporting $0.71 in earnings per share versus the $0.69 consensus estimate and $1.34 billion in revenue, up 6.3% year over year.
• Analysts maintain a generally cautious view, with an average rating of Hold and an average price target of $31.67. Gen Digital also declared a quarterly dividend of $0.125 per share, representing a 1.8% annualized yield.

Oppenheimer Asset Management Inc. purchased a new stake in Gen Digital Inc. (NASDAQ:GEN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 45,708 shares of the company's stock, valued at approximately $1,138,000.

Several other hedge funds have also recently modified their holdings of GEN. International Assets Investment Management LLC purchased a new position in Gen Digital during the fourth quarter valued at approximately $27,000. Grove Bank & Trust lifted its holdings in Gen Digital by 452.2% during the second quarter. Grove Bank & Trust now owns 1,132 shares of the company's stock worth $28,000 after buying an additional 927 shares during the period. Weiss Asset Management LP purchased a new stake in Gen Digital during the first quarter worth $41,000. TD Private Client Wealth LLC lifted its holdings in Gen Digital by 65.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company's stock worth $42,000 after buying an additional 611 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in Gen Digital by 221.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company's stock valued at $46,000 after acquiring an additional 1,183 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

Analyst Upgrades and Downgrades

GEN has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, July 15th. Jefferies Financial Group cut Gen Digital from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Barclays boosted their target price on shares of Gen Digital from $27.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. Wells Fargo & Company boosted their price target on Gen Digital from $22.00 to $28.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. Finally, Wall Street Zen downgraded shares of Gen Digital from a "buy" rating to a "hold" rating in a report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Gen Digital has an average rating of "Hold" and an average target price of $31.67.

Gen Digital Stock Performance

Shares of GEN stock opened at $28.48 on Monday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.00. Gen Digital Inc. has a 12-month low of $17.78 and a 12-month high of $31.88. The business's 50 day moving average is $26.17 and its two-hundred day moving average is $23.44. The company has a market capitalization of $17.05 billion, a P/E ratio of 16.56 and a beta of 1.21.

Gen Digital (NASDAQ:GEN - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.02. The business had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.31 billion. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The business's revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. Gen Digital has set its FY 2027 guidance at 2.870-2.970 EPS and its Q2 2027 guidance at 0.710-0.730 EPS. Analysts expect that Gen Digital Inc. will post 2.61 EPS for the current fiscal year.

Gen Digital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.8%. Gen Digital's dividend payout ratio is presently 29.07%.

Insider Activity at Gen Digital

In other Gen Digital news, Director Ondrej Vlcek sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $24.78, for a total value of $2,478,000.00. Following the transaction, the director directly owned 3,832,724 shares of the company's stock, valued at $94,974,900.72. This trade represents a 2.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John C. Chrystal acquired 3,000 shares of Gen Digital stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average price of $27.06 per share, for a total transaction of $81,180.00. Following the transaction, the director owned 31,419 shares of the company's stock, valued at $850,198.14. This represents a 10.56% increase in their position. The SEC filing for this purchase provides additional information. 9.70% of the stock is owned by corporate insiders.

About Gen Digital

Gen Digital NASDAQ: GEN is a global cybersecurity company specializing in consumer- and small-business-focused security, privacy, and identity protection solutions. The company offers a suite of products designed to safeguard devices, networks, and personal information against malware, ransomware, phishing attacks and other digital threats. With a focus on user-friendly interfaces and cross-platform compatibility, Gen Digital develops antivirus software, VPN services, parental controls, password management tools, and comprehensive identity-theft monitoring services.

Gen Digital traces its origins to the consumer software division of Symantec Corporation, which was spun off in late 2019 under the NortonLifeLock name.

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