Hsbc Holdings PLC Sells 136,639 Shares of Gen Digital Inc. $GEN

Hsbc Holdings PLC trimmed its position in Gen Digital Inc. (NASDAQ:GEN) by 13.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 895,266 shares of the company’s stock after selling 136,639 shares during the quarter. Hsbc Holdings PLC’s holdings in Gen Digital were worth $24,382,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position 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 during the period. Great Lakes Advisors LLC bought a new position in Gen Digital in the 1st quarter worth $205,000. Woodline Partners LP increased its stake in Gen Digital by 37.8% in the 1st quarter. Woodline Partners LP now owns 27,590 shares of the company’s stock worth $732,000 after buying an additional 7,562 shares in the last quarter. Focus Partners Wealth increased its stake in Gen Digital by 9.7% in the 1st quarter. Focus Partners Wealth now owns 22,347 shares of the company’s stock worth $593,000 after buying an additional 1,980 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Gen Digital by 221.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock valued at $46,000 after acquiring an additional 1,183 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insider Activity at Gen Digital

In other news, Director Ondrej Vlcek sold 100,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total transaction of $2,478,000.00. Following the completion of the transaction, the director directly owned 3,832,724 shares in the company, valued at approximately $94,974,900.72. This represents a 2.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Chrystal bought 3,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were purchased at an average price of $27.06 per share, with a total value of $81,180.00. Following the completion of the transaction, the director directly owned 31,419 shares in the company, valued at approximately $850,198.14. The trade was a 10.56% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 9.30% of the company’s stock.

Gen Digital Stock Performance

Shares of NASDAQ GEN opened at $26.60 on Tuesday. The company has a market cap of $16.02 billion, a P/E ratio of 16.84 and a beta of 1.21. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $32.22. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.40 and a current ratio of 0.40. The firm’s fifty day moving average is $23.71 and its two-hundred day moving average is $23.33.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.65 by $0.02. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Gen Digital had a net margin of 19.46% and a return on equity of 55.47%. The business’s revenue was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. 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. As a group, analysts anticipate that Gen Digital Inc. will post 2.59 EPS for the current fiscal year.

Gen Digital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 18th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.50 dividend on an annualized basis and a yield of 1.9%. Gen Digital’s dividend payout ratio is presently 31.65%.

Analyst Ratings Changes

GEN has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Gen Digital in a research report on Thursday, June 18th. Jefferies Financial Group downgraded Gen Digital from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Wall Street Zen downgraded Gen Digital from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Royal Bank Of Canada boosted their price target on Gen Digital from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Finally, Argus upgraded Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Gen Digital presently has an average rating of “Hold” and a consensus target price of $31.29.

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.