Gen Digital Inc. $GEN Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lessened its holdings in shares of Gen Digital Inc. (NASDAQ:GEN) by 30.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 266,947 shares of the company’s stock after selling 115,162 shares during the period. TD Waterhouse Canada Inc.’s holdings in Gen Digital were worth $6,970,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in Gen Digital in the fourth quarter worth about $27,000. Grove Bank & Trust grew its holdings in shares of Gen Digital by 452.2% during the second quarter. Grove Bank & Trust now owns 1,132 shares of the company’s stock valued at $28,000 after purchasing an additional 927 shares during the last quarter. Weiss Asset Management LP bought a new position in shares of Gen Digital during the first quarter valued at approximately $41,000. TD Private Client Wealth LLC lifted its holdings in shares of Gen Digital by 65.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock worth $42,000 after purchasing an additional 611 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Gen Digital by 221.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock valued at $46,000 after purchasing an additional 1,183 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Gen Digital Price Performance

GEN opened at $30.65 on Monday. The stock’s 50 day moving average price is $27.78 and its 200 day moving average price is $24.03. 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 cap of $18.35 billion, a P/E ratio of 17.82, a P/E/G ratio of 0.97 and a beta of 1.22. Gen Digital Inc. has a 12 month low of $17.78 and a 12 month high of $31.65.

Gen Digital (NASDAQ:GEN) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. 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. As a group, research analysts predict that Gen Digital Inc. will post 2.64 earnings per share for the current year.

Gen Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors 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 annualized dividend and a yield of 1.6%. Gen Digital’s dividend payout ratio is presently 29.07%.

Analyst Upgrades and Downgrades

GEN has been the subject of a number of recent research reports. Barclays upped their price objective on Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Wells Fargo & Company raised their target price on Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Weiss Ratings raised shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Wall Street Zen lowered shares of Gen Digital from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Finally, Royal Bank Of Canada increased their price objective on shares of Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.60.

Insider Activity

In other news, insider Travis Witteveen sold 30,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $29.42, for a total value of $882,600.00. Following the completion of the transaction, the insider directly owned 496,545 shares in the company, valued at $14,608,353.90. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ondrej Vlcek sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $30.00, for a total transaction of $6,000,000.00. Following the transaction, the director owned 3,332,904 shares in the company, valued at $99,987,120. This represents a 5.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 630,260 shares of company stock valued at $17,967,726 in the last ninety days. Corporate insiders own 9.70% of the company’s stock.

About Gen Digital

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.