168,053 Shares in Gen Digital Inc. $GEN Bought by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC purchased a new position in shares of Gen Digital Inc. (NASDAQ:GEN) in the second quarter, HoldingsChannel reports. The fund purchased 168,053 shares of the company’s stock, valued at approximately $4,183,000.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GEN. Argus raised shares of Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Weiss Ratings raised shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Wells Fargo & Company increased their price target on Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Wall Street Zen lowered Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Finally, Jefferies Financial Group cut Gen Digital from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Gen Digital has an average rating of “Hold” and an average target price of $31.67.

Gen Digital Price Performance

Shares of NASDAQ GEN opened at $28.93 on Friday. The company has a debt-to-equity ratio of 3.00, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a market capitalization of $17.32 billion, a price-to-earnings ratio of 16.82 and a beta of 1.21. The firm’s 50 day simple moving average is $26.49 and its 200-day simple moving average is $23.57. Gen Digital Inc. has a 12 month low of $17.78 and a 12 month high of $31.88.

Gen Digital (NASDAQ:GEN) last posted its earnings results on Thursday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the business posted $0.64 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. Gen Digital has set its FY 2027 guidance at 2.870-2.970 EPS and its Q2 2027 guidance at 0.710-0.730 EPS. Analysts expect that Gen Digital Inc. will post 2.64 EPS for the current year.

Gen Digital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $0.50 dividend on an annualized basis and a yield of 1.7%. Gen Digital’s payout ratio is presently 29.07%.

Insiders Place Their Bets

In other news, Director Ondrej Vlcek sold 100,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $24.78, for a total transaction of $2,478,000.00. Following the sale, the director directly owned 3,832,724 shares of the company’s stock, valued at $94,974,900.72. This represents a 2.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John C. Chrystal bought 3,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were acquired at an average price of $27.06 per share, for a total transaction 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. This trade represents a 10.56% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders sold 230,440 shares of company stock worth $6,172,946. Company insiders own 9.70% of the company’s stock.

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.