Gen Digital Inc. (NASDAQ:GEN) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its stake in shares of Gen Digital Inc. (NASDAQ:GEN) by 1.7% during the first quarter, Holdings Channel.com reports. The fund owned 53,783 shares of the company’s stock after purchasing an additional 882 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Gen Digital were worth $1,427,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GEN. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Gen Digital during the fourth quarter valued at approximately $14,367,000. QSM Asset Management Ltd acquired a new position in shares of Gen Digital during the fourth quarter valued at approximately $5,373,000. Brighton Jones LLC increased its stake in shares of Gen Digital by 5.4% during the fourth quarter. Brighton Jones LLC now owns 25,212 shares of the company’s stock valued at $690,000 after acquiring an additional 1,299 shares during the period. Wellington Management Group LLP grew its position in Gen Digital by 98.8% in the fourth quarter. Wellington Management Group LLP now owns 114,699 shares of the company’s stock worth $3,140,000 after buying an additional 56,993 shares during the last quarter. Finally, Kera Capital Partners Inc. grew its position in Gen Digital by 41.7% in the first quarter. Kera Capital Partners Inc. now owns 11,777 shares of the company’s stock worth $313,000 after buying an additional 3,466 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Buying and Selling

In related news, Director Nora Denzel sold 31,646 shares of the firm’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 completion of the transaction, the director now owns 34,860 shares of the company’s stock, valued at approximately $1,002,573.60. This trade represents a 47.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 12.20% of the company’s stock.

Gen Digital Trading Down 0.6%

Gen Digital stock opened at $29.28 on Friday. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market cap of $18.16 billion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. Gen Digital Inc. has a 1 year low of $22.74 and a 1 year high of $31.72. The firm’s 50 day moving average price is $27.98 and its two-hundred day moving average price is $27.41.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. Gen Digital had a net margin of 16.34% and a return on equity of 59.38%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $999.48 million. During the same quarter last year, the business posted $0.53 EPS. The company’s revenue was up 4.4% on a year-over-year basis. On average, research analysts predict that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Monday, May 19th. Gen Digital’s dividend payout ratio is 48.08%.

Analyst Upgrades and Downgrades

GEN has been the topic of several recent research reports. Morgan Stanley decreased their price target on shares of Gen Digital from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Wall Street Zen upgraded shares of Gen Digital from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, Royal Bank Of Canada lifted their price target on shares of Gen Digital from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $27.50.

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.