Geode Capital Management LLC Raises Stock Holdings in Gen Digital Inc. $GEN

Geode Capital Management LLC increased its holdings in shares of Gen Digital Inc. (NASDAQ:GEN) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,592,196 shares of the company’s stock after purchasing an additional 129,413 shares during the quarter. Geode Capital Management LLC’s holdings in Gen Digital were worth $422,461,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GEN. International Assets Investment Management LLC purchased a new position in shares of Gen Digital in the 4th quarter worth about $27,000. Clearstead Advisors LLC raised its holdings in shares of Gen Digital by 48.6% in the 3rd quarter. Clearstead Advisors LLC now owns 1,223 shares of the company’s stock worth $35,000 after purchasing an additional 400 shares during the period. 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 during the period. MUFG Securities EMEA plc purchased a new position in shares of Gen Digital in the 2nd quarter worth about $47,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of 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 during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Gen Digital Price Performance

Shares of NASDAQ GEN opened at $25.79 on Monday. Gen Digital Inc. has a fifty-two week low of $17.78 and a fifty-two week high of $32.22. The business has a 50 day moving average price of $20.86 and a two-hundred day moving average price of $23.63. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.07. The firm has a market cap of $15.54 billion, a PE ratio of 16.32 and a beta of 1.20.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. Gen Digital had a return on equity of 55.47% and a net margin of 19.46%.The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm earned $0.59 EPS. Gen Digital’s quarterly revenue was up 27.0% on a year-over-year basis. Gen Digital has set its Q1 2027 guidance at 0.680-0.700 EPS and its FY 2027 guidance at 2.850-2.950 EPS. Sell-side analysts expect that Gen Digital Inc. will post 2.59 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Monday, May 18th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, May 18th. Gen Digital’s dividend payout ratio (DPR) is currently 31.65%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wall Street Zen upgraded Gen Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Royal Bank Of Canada raised their price objective on Gen Digital from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Argus upgraded Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Jefferies Financial Group lowered Gen Digital from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Barclays increased their target price on Gen Digital from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $31.29.

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.