Gen Digital Inc. (NASDAQ:GEN) Shares Sold by Avanza Fonder AB

Avanza Fonder AB lessened its stake in Gen Digital Inc. (NASDAQ:GEN) by 5.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 38,340 shares of the company’s stock after selling 2,117 shares during the period. Avanza Fonder AB’s holdings in Gen Digital were worth $1,036,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Curat Global LLC acquired a new stake in Gen Digital in the 1st quarter valued at $154,000. Merit Financial Group LLC purchased a new position in Gen Digital during the first quarter valued at $273,000. Kera Capital Partners Inc. lifted its holdings in Gen Digital by 41.7% during the first quarter. Kera Capital Partners Inc. now owns 11,777 shares of the company’s stock valued at $313,000 after purchasing an additional 3,466 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Gen Digital by 15.1% in the first quarter. GAMMA Investing LLC now owns 12,139 shares of the company’s stock valued at $322,000 after purchasing an additional 1,593 shares during the period. Finally, Vest Financial LLC increased its stake in shares of Gen Digital by 61.9% during the first quarter. Vest Financial LLC now owns 13,689 shares of the company’s stock worth $363,000 after purchasing an additional 5,232 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Gen Digital from $28.00 to $30.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 7th. Morgan Stanley reduced their target price on Gen Digital from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th.

Insiders Place Their Bets

In other news, Director Nora Denzel sold 31,646 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $28.76, for a total value of $910,138.96. Following the sale, the director now directly owns 34,860 shares of the company’s stock, valued at approximately $1,002,573.60. The trade was a 47.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.20% of the stock is owned by insiders.

Gen Digital Trading Down 0.3%

Shares of GEN opened at $29.44 on Thursday. The firm’s fifty day moving average is $26.77 and its two-hundred day moving average is $27.53. The stock has a market cap of $18.26 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 3.29. Gen Digital Inc. has a 52-week low of $22.74 and a 52-week high of $31.72.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $999.48 million. Gen Digital had a net margin of 16.32% and a return on equity of 58.83%. Gen Digital’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 earnings per share. Research analysts forecast that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Monday, May 19th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Monday, May 19th. Gen Digital’s dividend payout ratio (DPR) is presently 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.