Gen Digital Inc. (NASDAQ:GEN) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC lowered its position in Gen Digital Inc. (NASDAQ:GEN) by 16.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,935 shares of the company’s stock after selling 964 shares during the quarter. Farther Finance Advisors LLC’s holdings in Gen Digital were worth $132,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Rhumbline Advisers grew its position in shares of Gen Digital by 6.6% during the first quarter. Rhumbline Advisers now owns 1,116,301 shares of the company’s stock worth $29,627,000 after acquiring an additional 69,558 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Gen Digital during the fourth quarter valued at approximately $14,367,000. GAMMA Investing LLC increased its position in shares of Gen Digital by 2,954.9% during the 1st quarter. GAMMA Investing LLC now owns 322,169 shares of the company’s stock valued at $8,550,000 after purchasing an additional 311,623 shares during the period. QSM Asset Management Ltd bought a new stake in Gen Digital in the fourth quarter worth about $5,373,000. Finally, Czech National Bank lifted its stake in Gen Digital by 5.9% during the first quarter. Czech National Bank now owns 124,568 shares of the company’s stock valued at $3,306,000 after purchasing an additional 6,995 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Activity

In related news, Director Nora Denzel sold 31,646 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $28.76, for a total value of $910,138.96. Following the transaction, the director now directly owns 34,860 shares in the company, valued at approximately $1,002,573.60. This represents a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 12.20% of the stock is owned by corporate insiders.

Gen Digital Trading Down 1.1%

Shares of Gen Digital stock opened at $29.03 on Friday. Gen Digital Inc. has a 12-month low of $22.74 and a 12-month high of $31.72. The company has a 50-day simple moving average of $27.51 and a 200 day simple moving average of $27.47. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 3.51. The stock has a market capitalization of $18.01 billion, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01.

Gen Digital (NASDAQ:GEN) last released its earnings results on Tuesday, May 6th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.58 by $0.01. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $999.48 million. During the same period last year, the firm earned $0.53 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. Research analysts expect that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Monday, May 19th. Gen Digital’s payout ratio is 48.08%.

Analysts Set New Price Targets

GEN has been the subject of a number of recent analyst reports. Royal Bank Of Canada raised their price objective on shares of Gen Digital from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 7th. Morgan Stanley dropped their price objective on Gen Digital from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th.

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.