42,076 Shares in Gen Digital Inc. $GEN Acquired by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC purchased a new stake in shares of Gen Digital Inc. (NASDAQ:GEN) in the second quarter, HoldingsChannel reports. The institutional investor purchased 42,076 shares of the company’s stock, valued at approximately $1,047,000.

Other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in shares of Gen Digital by 1.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,703,712 shares of the company’s stock worth $71,757,000 after purchasing an additional 28,522 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in Gen Digital during the first quarter valued at about $205,000. Woodline Partners LP boosted its stake in shares of Gen Digital by 37.8% in the first quarter. Woodline Partners LP now owns 27,590 shares of the company’s stock worth $732,000 after acquiring an additional 7,562 shares during the period. Focus Partners Wealth grew its position in shares of Gen Digital by 9.7% during the first quarter. Focus Partners Wealth now owns 22,347 shares of the company’s stock worth $593,000 after purchasing an additional 1,980 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in Gen Digital by 221.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock worth $46,000 after purchasing an additional 1,183 shares in the last quarter. 81.38% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Ondrej Vlcek sold 200,000 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $30.00, for a total value of $6,000,000.00. Following the transaction, the director directly owned 3,332,904 shares of the company’s stock, valued at approximately $99,987,120. This trade represents a 5.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Travis Michael Witteveen sold 30,000 shares of the stock in a transaction 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 transaction, the insider directly owned 496,545 shares of the company’s stock, valued at approximately $14,608,353.90. This represents a 5.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 630,260 shares of company stock worth $17,967,726 in the last quarter. Corporate insiders own 9.70% of the company’s stock.

Gen Digital Trading Up 1.7%

NASDAQ GEN opened at $31.02 on Friday. Gen Digital Inc. has a 12-month low of $17.78 and a 12-month high of $31.29. The company has a fifty day simple moving average of $27.06 and a two-hundred day simple moving average of $23.81. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.00. The stock has a market cap of $18.57 billion, a P/E ratio of 18.03 and a beta of 1.21.

Gen Digital (NASDAQ:GEN) last issued its earnings results on Thursday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the business posted $0.64 EPS. The firm’s quarterly 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 year.

Gen Digital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be given a dividend of $0.125 per share. The ex-dividend date is Monday, August 17th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.6%. Gen Digital’s dividend payout ratio (DPR) is 29.07%.

Wall Street Analysts Forecast Growth

GEN has been the topic of several research reports. Argus raised Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Wall Street Zen cut shares of Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Barclays boosted their price objective on Gen Digital from $27.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Weiss Ratings upgraded Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Finally, Royal Bank Of Canada increased their price objective on Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $31.67.

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.