Wellington Management Group LLP Has $3.14 Million Stock Holdings in Gen Digital Inc. (NASDAQ:GEN)

Wellington Management Group LLP lifted its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 98.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,699 shares of the company's stock after acquiring an additional 56,993 shares during the period. Wellington Management Group LLP's holdings in Gen Digital were worth $3,140,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Gen Digital during the 4th quarter worth about $14,367,000. QSM Asset Management Ltd bought a new stake in shares of Gen Digital in the fourth quarter valued at about $5,373,000. Finally, Brighton Jones LLC boosted its position in shares of Gen Digital by 5.4% during the fourth quarter. Brighton Jones LLC now owns 25,212 shares of the company's stock worth $690,000 after buying an additional 1,299 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Nora Denzel sold 31,646 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $28.76, for a total value of $910,138.96. Following the sale, the director now owns 34,860 shares in the company, valued at approximately $1,002,573.60. This represents a 47.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GEN. Morgan Stanley dropped their target price on Gen Digital from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Royal Bank of Canada raised 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 note on Wednesday, May 7th.

Gen Digital Stock Up 0.7%

NASDAQ:GEN traded up $0.20 on Friday, hitting $29.33. 2,659,019 shares of the company's stock were exchanged, compared to its average volume of 3,818,820. The firm has a 50-day moving average price of $26.53 and a 200-day moving average price of $27.50. Gen Digital Inc. has a 52 week low of $22.74 and a 52 week high of $31.72. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.35 and a quick ratio of 0.35. The company has a market cap of $18.19 billion, a P/E ratio of 28.76, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.01. Gen Digital had a return on equity of 58.83% and a net margin of 16.32%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $999.48 million. During the same quarter in the previous year, the business earned $0.53 earnings per share. Gen Digital's quarterly revenue was up 4.4% on a year-over-year basis. As a group, analysts expect that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Monday, May 19th. Gen Digital's dividend payout ratio is currently 48.08%.

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.