Rice Partnership LLC Has $3.12 Million Stock Holdings in Gen Digital Inc. (NASDAQ:GEN)

Rice Partnership LLC grew its holdings in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 51.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 117,727 shares of the company's stock after buying an additional 39,866 shares during the quarter. Rice Partnership LLC's holdings in Gen Digital were worth $3,124,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Catalyst Capital Advisors LLC grew its holdings in Gen Digital by 117.6% during the 1st quarter. Catalyst Capital Advisors LLC now owns 1,580 shares of the company's stock worth $42,000 after acquiring an additional 854 shares during the last quarter. Tsfg LLC bought a new position in shares of Gen Digital in the 1st quarter valued at about $52,000. Mather Group LLC. grew its position in shares of Gen Digital by 26.6% during the 1st quarter. Mather Group LLC. now owns 3,730 shares of the company's stock worth $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 approximately $154,000. Finally, Sagespring Wealth Partners LLC acquired a new stake in shares of Gen Digital during the 1st quarter worth approximately $212,000. Institutional investors and hedge funds own 81.38% of the company's stock.

Gen Digital Stock Performance

Shares of GEN opened at $30.48 on Friday. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.51 and a current ratio of 0.51. Gen Digital Inc. has a twelve month low of $22.74 and a twelve month high of $31.72. The firm's 50 day moving average price is $28.53 and its two-hundred day moving average price is $27.42. The firm has a market cap of $18.90 billion, a P/E ratio of 29.31, a PEG ratio of 1.14 and a beta of 1.01.

Gen Digital (NASDAQ:GEN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share 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 analyst estimates of $999.48 million. Gen Digital had a net margin of 16.34% and a return on equity of 59.38%. The business's revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share. On average, analysts forecast that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Monday, May 19th. Gen Digital's dividend payout ratio is presently 48.08%.

Wall Street Analyst Weigh In

GEN has been the subject of several analyst reports. Evercore ISI initiated coverage on shares of Gen Digital in a research report on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price target for the company. Royal Bank Of Canada lifted 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 report on Wednesday, May 7th. Morgan Stanley lowered their price target on shares of Gen Digital from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, Wall Street Zen cut shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Gen Digital has a consensus rating of "Buy" and an average price target of $30.00.

Insider Activity at Gen Digital

In other news, Director Nora Denzel sold 31,646 shares of the business's stock in a transaction 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 sale, 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 SEC, which can be accessed through the SEC website. 12.20% of the stock is currently owned by corporate insiders.

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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