Foster & Motley Inc. Makes New $1.20 Million Investment in Gen Digital Inc. $GEN

Foster & Motley Inc. purchased a new stake in shares of Gen Digital Inc. (NASDAQ:GEN) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 48,376 shares of the company’s stock, valued at approximately $1,204,000.

Other hedge funds also recently modified their holdings of the company. Trust Co. of Vermont bought a new stake in Gen Digital in the second quarter worth about $32,000. International Assets Investment Management LLC bought a new position in shares of Gen Digital during the 4th quarter valued at about $27,000. Grove Bank & Trust grew its stake in shares of Gen Digital by 452.2% in the 2nd quarter. Grove Bank & Trust now owns 1,132 shares of the company’s stock worth $28,000 after purchasing an additional 927 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Gen Digital by 65.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock worth $42,000 after purchasing an additional 611 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in shares of Gen Digital in the 2nd quarter worth approximately $47,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GEN shares. Wall Street Zen lowered Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday. Royal Bank Of Canada increased their price target on Gen Digital from $27.00 to $30.00 and gave the company a “sector perform” rating in a research report on Friday, August 7th. Argus upgraded Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Barclays upped their price objective on shares of Gen Digital from $27.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Finally, Wells Fargo & Company raised their target price on shares of Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Gen Digital has an average rating of “Hold” and an average target price of $31.67.

Gen Digital Price Performance

GEN opened at $27.54 on Thursday. 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. The stock has a fifty day moving average price of $26.31 and a 200 day moving average price of $23.50. The stock has a market cap of $16.49 billion, a price-to-earnings ratio of 16.01 and a beta of 1.21.

Gen Digital (NASDAQ:GEN) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $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. Analysts forecast that Gen Digital Inc. will post 2.64 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 17th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, August 17th. Gen Digital’s payout ratio is currently 29.07%.

Insider Activity at Gen Digital

In other news, insider Travis Michael Witteveen sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $29.42, for a total transaction of $882,600.00. Following the completion of the transaction, the insider directly owned 496,545 shares in the company, valued at $14,608,353.90. The trade was a 5.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Chrystal purchased 3,000 shares of Gen Digital stock in a transaction on Thursday, June 4th. The stock was bought at an average cost of $27.06 per share, with a total value of $81,180.00. Following the completion of the acquisition, the director owned 31,419 shares in the company, valued at approximately $850,198.14. This trade represents a 10.56% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 130,440 shares of company stock worth $3,372,946 in the last 90 days. 9.70% of the stock is owned by company insiders.

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.