168,213 Shares in Gen Digital Inc. $GEN Bought by Martin & Co. Inc. TN

Martin & Co. Inc. TN bought a new position in shares of Gen Digital Inc. (NASDAQ:GEN) during the second quarter, Holdings Channel reports. The fund bought 168,213 shares of the company’s stock, valued at approximately $4,187,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Deutsche Bank AG acquired a new position in shares of Gen Digital in the 2nd quarter valued at $146,639,000. Bank of New York Mellon Corp acquired a new stake in Gen Digital during the 2nd quarter worth about $108,421,000. Arrowstreet Capital Limited Partnership raised its holdings in Gen Digital by 45.8% during the 1st 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 during the period. First Trust Advisors LP lifted its stake in Gen Digital by 22.3% during 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 in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in Gen Digital during the fourth quarter valued at about $70,248,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Gen Digital

In related news, Director John C. Chrystal acquired 3,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were purchased at an average cost of $27.06 per share, with a total value of $81,180.00. Following the completion of the transaction, the director owned 31,419 shares of the company’s stock, valued at approximately $850,198.14. This trade represents a 10.56% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ondrej Vlcek sold 100,000 shares of the company’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 transaction of $2,478,000.00. Following the completion of the transaction, the director owned 3,832,724 shares in the company, valued at approximately $94,974,900.72. This represents a 2.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 230,440 shares of company stock valued at $6,172,946. Corporate insiders own 9.70% of the company’s stock.

Gen Digital Stock Up 2.7%

Shares of Gen Digital stock opened at $28.93 on Friday. The stock has a 50-day moving average price of $26.49 and a 200 day moving average price of $23.57. The company has a market cap of $17.32 billion, a P/E ratio of 16.82 and a beta of 1.21. 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 1 year low of $17.78 and a 1 year high of $31.88.

Gen Digital (NASDAQ:GEN) last released its 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. The company had revenue of $1.34 billion for 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 for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 EPS. 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, analysts expect that Gen Digital Inc. will post 2.64 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 17th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, August 17th. Gen Digital’s dividend payout ratio (DPR) is currently 29.07%.

Analysts Set New Price Targets

GEN has been the subject of several recent analyst reports. Argus upgraded shares of Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Wall Street Zen downgraded shares of Gen Digital from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Weiss Ratings upgraded shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Jefferies Financial Group lowered shares of Gen Digital from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Wells Fargo & Company lifted their price objective on shares of Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. One 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.com, the company currently has a consensus rating of “Hold” and an average target price of $31.67.

Gen Digital Company Profile

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.