Wealthfront Advisers LLC purchased a new position in Gen Digital Inc. (NASDAQ:GEN - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 38,785 shares of the company's stock, valued at approximately $965,000.
Several other large investors have also recently made changes to their positions in the company. Deutsche Bank AG purchased a new position in Gen Digital in the 2nd quarter valued at $146,639,000. Bank of New York Mellon Corp purchased a new stake in shares of Gen Digital during the second quarter worth $108,421,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Gen Digital by 45.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 13,094,386 shares of the company's stock worth $246,567,000 after buying an additional 4,115,676 shares in the last quarter. First Trust Advisors LP raised its position in shares of Gen Digital by 22.3% in the fourth quarter. First Trust Advisors LP now owns 19,941,546 shares of the company's stock valued at $542,211,000 after buying an additional 3,640,451 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Gen Digital in the fourth quarter valued at about $70,248,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.
Gen Digital Stock Up 2.7%
Shares of GEN opened at $28.93 on Friday. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $31.88. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.00. The stock has a fifty day simple moving average of $26.49 and a two-hundred day simple moving average of $23.57. The company has a market capitalization of $17.32 billion, a PE ratio of 16.82 and a beta of 1.21.
Gen Digital (NASDAQ:GEN - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The firm had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.31 billion. During the same quarter in the previous year, the company posted $0.64 EPS. The company's revenue was up 6.3% compared to the same quarter last year. 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. As a group, equities analysts forecast that Gen Digital Inc. will post 2.64 EPS for the current year.
Gen Digital Dividend Announcement
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 $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, August 17th. Gen Digital's payout ratio is presently 29.07%.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on GEN. Argus upgraded shares of Gen Digital to a "strong-buy" rating in a research report on Friday, May 22nd. Wall Street Zen downgraded shares of Gen Digital from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. Weiss Ratings raised shares of Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, July 15th. Royal Bank Of Canada raised their target price on shares of Gen Digital from $27.00 to $30.00 and gave the stock a "sector perform" rating in a research note on Friday, August 7th. Finally, Wells Fargo & Company boosted their target price on Gen Digital from $22.00 to $28.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $31.67.
Read Our Latest Research Report on GEN
Insider Buying and Selling at Gen Digital
In other news, Director John C. Chrystal purchased 3,000 shares of the business's stock in a transaction dated Thursday, June 4th. The stock was acquired at an average price of $27.06 per share, for a total transaction of $81,180.00. Following the acquisition, the director directly owned 31,419 shares of the company's stock, valued at approximately $850,198.14. This represents a 10.56% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Travis Michael Witteveen sold 30,000 shares of Gen Digital stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $29.42, for a total transaction of $882,600.00. Following the sale, the insider directly owned 496,545 shares in the company, valued at approximately $14,608,353.90. The trade was a 5.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 230,440 shares of company stock worth $6,172,946 in the last ninety days. 9.70% of the stock is owned by insiders.
Gen Digital Profile
(
Free Report)
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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