Gen Digital Inc. (NASDAQ:GEN) Shares Bought by LPL Financial LLC

LPL Financial LLC raised its position in Gen Digital Inc. (NASDAQ:GEN) by 24.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 143,150 shares of the company’s stock after purchasing an additional 28,349 shares during the period. LPL Financial LLC’s holdings in Gen Digital were worth $3,799,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Catalyst Capital Advisors LLC boosted its stake in Gen Digital by 117.6% during 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 period. Tsfg LLC acquired a new stake in shares of Gen Digital in the 1st quarter worth $52,000. Mather Group LLC. lifted its stake in shares of 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 acquiring an additional 783 shares during the period. Curat Global LLC acquired a new stake in shares of Gen Digital in the 1st quarter worth $154,000. Finally, Sagespring Wealth Partners LLC acquired a new stake in shares of Gen Digital in the 1st quarter worth $212,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Gen Digital Stock Performance

Shares of GEN opened at $31.47 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.51 and a debt-to-equity ratio of 3.63. The stock has a market cap of $19.38 billion, a P/E ratio of 32.44, a PEG ratio of 1.06 and a beta of 1.00. The company has a 50-day moving average of $29.90 and a two-hundred day moving average of $27.97. Gen Digital Inc. has a 12-month low of $22.74 and a 12-month high of $32.22.

Gen Digital (NASDAQ:GEN) last announced its earnings results on Thursday, August 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.04. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Gen Digital had a net margin of 14.12% and a return on equity of 57.99%. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 earnings per share. As a group, research analysts predict that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.