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

Hsbc Holdings PLC trimmed its stake in Gen Digital Inc. (NASDAQ:GEN) by 13.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 895,266 shares of the company’s stock after selling 136,639 shares during the period. Hsbc Holdings PLC owned about 0.15% of Gen Digital worth $24,382,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GEN. Sound Income Strategies LLC raised its stake in shares of Gen Digital by 38,275.3% in the fourth quarter. Sound Income Strategies LLC now owns 194,563 shares of the company’s stock valued at $5,078,000 after acquiring an additional 194,056 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Gen Digital by 9.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,155,639 shares of the company’s stock worth $30,128,000 after acquiring an additional 102,345 shares during the last quarter. LBP AM SA grew its position in Gen Digital by 63.7% during the 4th quarter. LBP AM SA now owns 738,272 shares of the company’s stock worth $20,074,000 after acquiring an additional 287,369 shares during the last quarter. Legal & General Group Plc increased its holdings in Gen Digital by 3.8% during the 4th quarter. Legal & General Group Plc now owns 9,085,216 shares of the company’s stock valued at $247,027,000 after purchasing an additional 334,156 shares in the last quarter. Finally, Oak Thistle LLC bought a new position in Gen Digital in the 4th quarter valued at $1,652,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Gen Digital news, Director John C. Chrystal purchased 3,000 shares of the stock in a transaction on Thursday, June 4th. The stock was bought at an average cost of $27.06 per share, for a total transaction of $81,180.00. Following the completion of the acquisition, the director directly owned 31,419 shares of the company’s stock, valued at $850,198.14. The trade was a 10.56% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ondrej Vlcek sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total value of $2,478,000.00. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. 9.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Barclays increased their target price on Gen Digital from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Gen Digital in a research report on Thursday, June 18th. Royal Bank Of Canada increased their price objective on shares of 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 shares of Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. Finally, Wall Street Zen cut shares of Gen Digital from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Gen Digital has an average rating of “Hold” and an average price target of $31.29.

Gen Digital Price Performance

Gen Digital stock opened at $23.56 on Thursday. The business’s 50-day simple moving average is $22.94 and its 200 day simple moving average is $23.43. 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 stock has a market cap of $14.19 billion, a price-to-earnings ratio of 14.91 and a beta of 1.21. Gen Digital Inc. has a 12-month low of $17.78 and a 12-month high of $32.22.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. Gen Digital had a net margin of 19.46% and a return on equity of 55.47%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the firm posted $0.59 earnings per share. Gen Digital’s revenue for the quarter was up 27.0% compared to the same quarter last year. 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, research analysts anticipate that Gen Digital Inc. will post 2.59 earnings per share for the current year.

Gen Digital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, May 18th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Monday, May 18th. Gen Digital’s dividend payout ratio is presently 31.65%.

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.