Wedge Capital Management L L P NC Boosts Stake in Gen Digital Inc. $GEN

Key Points

• Wedge Capital Management L L P NC increased its stake in Gen Digital Inc. by 20.3% in Q2, owning 165,679 shares worth $4.87 million after additional purchases.
• Gen Digital reported $0.64 earnings per share for the last quarter, exceeding analysts' estimates of $0.60, with a revenue of $1.26 billion showing a year-over-year growth of 30.3%.
• The company announced a quarterly dividend of $0.125, representing an annualized dividend yield of 1.7%, with a current payout ratio of 51.55%.

Wedge Capital Management L L P NC increased its holdings in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 20.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,679 shares of the company's stock after buying an additional 27,978 shares during the period. Wedge Capital Management L L P NC's holdings in Gen Digital were worth $4,871,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GEN. Catalyst Capital Advisors LLC raised its position in Gen Digital by 117.6% during the first quarter. Catalyst Capital Advisors LLC now owns 1,580 shares of the company's stock valued at $42,000 after purchasing an additional 854 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Gen Digital by 221.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company's stock worth $46,000 after buying an additional 1,183 shares during the last quarter. Tsfg LLC bought a new stake in shares of Gen Digital during the first quarter worth $52,000. Rise Advisors LLC grew its stake in shares of Gen Digital by 19.2% during the first quarter. Rise Advisors LLC now owns 2,361 shares of the company's stock worth $63,000 after buying an additional 381 shares during the last quarter. Finally, Capital Analysts LLC bought a new stake in shares of Gen Digital during the first quarter worth $85,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Gen Digital Trading Up 0.1%

GEN traded up $0.02 during trading on Tuesday, reaching $28.86. 937,726 shares of the stock traded hands, compared to its average volume of 4,082,277. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 3.63. The stock has a market capitalization of $17.77 billion, a PE ratio of 29.74, a P/E/G ratio of 0.98 and a beta of 0.99. The stock's 50-day moving average is $30.07 and its 200 day moving average is $28.41. Gen Digital Inc. has a 12 month low of $22.74 and a 12 month high of $32.22.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.04. Gen Digital had a net margin of 14.12% and a return on equity of 57.99%. The company had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The business's revenue was up 30.3% on a year-over-year basis. Gen Digital has set its Q2 2026 guidance at 0.600-0.620 EPS. FY 2026 guidance at 2.490-2.560 EPS. Equities analysts anticipate that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 18th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, August 18th. Gen Digital's dividend payout ratio is currently 51.55%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GEN. Morgan Stanley boosted their target price on shares of Gen Digital from $25.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Tuesday, September 2nd. Evercore ISI assumed coverage on shares of Gen Digital in a research note on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of Gen Digital from $37.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. B. Riley assumed coverage on shares of Gen Digital in a research note on Monday, July 14th. They issued a "buy" rating and a $46.00 price objective on the stock. Finally, Wall Street Zen cut shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $36.50.

About Gen Digital

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.