Callan Family Office LLC Makes New Investment in Gen Digital Inc. $GEN

Callan Family Office LLC purchased a new stake in shares of Gen Digital Inc. (NASDAQ:GEN) in the 2nd quarter, Holdings Channel reports. The fund purchased 41,725 shares of the company’s stock, valued at approximately $1,039,000.

Several other large investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new position in shares of Gen Digital during the 4th quarter worth approximately $27,000. Grove Bank & Trust raised its stake in Gen Digital by 452.2% in the 2nd quarter. Grove Bank & Trust now owns 1,132 shares of the company’s stock valued at $28,000 after acquiring an additional 927 shares during the period. Trust Co. of Vermont bought a new stake in Gen Digital in the 2nd quarter valued at $32,000. Weiss Asset Management LP acquired a new stake in Gen Digital during the 1st quarter valued at $41,000. Finally, TD Private Client Wealth LLC lifted its holdings in Gen Digital by 65.8% during the 4th quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock valued at $42,000 after purchasing an additional 611 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on GEN shares. Royal Bank Of Canada lifted their target price on shares of Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. Weiss Ratings raised shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Argus upgraded shares of Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. Barclays boosted their price objective on Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Finally, Wells Fargo & Company upped their target price on Gen Digital from $22.00 to $28.00 and gave the company 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $31.67.

Gen Digital Trading Up 0.6%

Shares of Gen Digital stock opened at $29.11 on Tuesday. The company has a market capitalization of $17.42 billion, a price-to-earnings ratio of 16.92 and a beta of 1.21. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.00. Gen Digital Inc. has a 12-month low of $17.78 and a 12-month high of $31.57. The firm’s 50-day moving average price is $26.59 and its two-hundred day moving average price is $23.62.

Gen Digital (NASDAQ:GEN) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.71 EPS 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 business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. 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. On average, analysts forecast that Gen Digital Inc. will post 2.64 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th 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 1.7%. The ex-dividend date of this dividend is Monday, August 17th. Gen Digital’s dividend payout ratio (DPR) is presently 29.07%.

Insider Transactions at Gen Digital

In related news, Director John C. Chrystal purchased 3,000 shares of Gen Digital stock in a transaction on Thursday, June 4th. The shares were purchased at an average price of $27.06 per share, for a total transaction of $81,180.00. Following the transaction, the director owned 31,419 shares of the company’s stock, valued at approximately $850,198.14. This represents a 10.56% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Travis Michael Witteveen sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $29.42, for a total value of $882,600.00. Following the completion of the sale, the insider 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 disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 230,440 shares of company stock worth $6,172,946. Insiders own 9.70% of the company’s stock.

About Gen Digital

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.