Gen Digital Inc. (NASDAQ:GEN) Holdings Lifted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in Gen Digital Inc. (NASDAQ:GEN) by 1.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,370,678 shares of the company’s stock after purchasing an additional 32,870 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.55% of Gen Digital worth $89,458,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Catalyst Capital Advisors LLC grew its position in Gen Digital by 117.6% in the 1st quarter. Catalyst Capital Advisors LLC now owns 1,580 shares of the company’s stock worth $42,000 after purchasing an additional 854 shares during the last quarter. Tsfg LLC bought a new position in Gen Digital in the 1st quarter worth about $52,000. Mather Group LLC. grew its position in Gen Digital by 26.6% in the 1st quarter. Mather Group LLC. now owns 3,730 shares of the company’s stock worth $99,000 after purchasing an additional 783 shares during the last quarter. Curat Global LLC bought a new position in Gen Digital in the 1st quarter worth about $154,000. Finally, Sagespring Wealth Partners LLC bought a new position in Gen Digital in the 1st quarter worth about $212,000. Institutional investors own 81.38% of the company’s stock.

Gen Digital Stock Up 3.5%

GEN stock opened at $31.85 on Wednesday. Gen Digital Inc. has a 12 month low of $22.74 and a 12 month high of $31.88. The firm has a market cap of $19.61 billion, a PE ratio of 32.84, a P/E/G ratio of 1.03 and a beta of 1.00. The firm has a 50 day simple moving average of $29.74 and a 200 day simple moving average of $27.88. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.50 and a quick ratio of 0.51.

Gen Digital (NASDAQ:GEN) last released its earnings results on Thursday, August 7th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.60 by $0.04. Gen Digital had a net margin of 14.12% and a return on equity of 57.99%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business earned $0.53 earnings per share. The business’s quarterly revenue was up 30.3% on a year-over-year basis. Equities research analysts forecast that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, August 18th. Gen Digital’s dividend payout ratio is 51.55%.

Analyst Ratings Changes

GEN has been the subject of several recent analyst reports. Royal Bank Of Canada upped their target price on shares of Gen Digital from $32.00 to $33.00 and gave the stock a “sector perform” rating in a research report on Friday, August 8th. Wall Street Zen cut shares of Gen Digital from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 5th. Wells Fargo & Company increased their price objective on shares of Gen Digital from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, August 8th. B. Riley began coverage on shares of Gen Digital in a report on Monday, July 14th. They issued a “buy” rating and a $46.00 price objective for the company. Finally, Evercore ISI began coverage on shares of Gen Digital in a report on Tuesday, July 1st. They issued an “outperform” rating and a $35.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Gen Digital presently has an average rating of “Moderate Buy” and a consensus target price of $35.33.

Insider Activity at Gen Digital

In related news, Director Nora Denzel sold 31,646 shares of the company’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 sale, the director owned 34,860 shares in the company, valued at approximately $1,002,573.60. This represents a 47.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.30% of the company’s stock.

About Gen Digital

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.