22,698 Shares of Gen Digital Inc. $GEN Bought by Vise Technologies Inc.

Vise Technologies Inc. bought a new position in shares of Gen Digital Inc. (NASDAQ:GEN) during the third quarter, Holdings Channel reports. The fund bought 22,698 shares of the company’s stock, valued at approximately $500,000.

A number of other hedge funds have also recently made changes to their positions in GEN. Legal & General Group Plc bought a new stake in Gen Digital during the second quarter valued at $225,169,000. Deutsche Bank AG bought a new position in shares of Gen Digital in the second quarter worth approximately $146,639,000. Bank of New York Mellon Corp bought a new stake in Gen Digital during the second quarter valued at approximately $108,421,000. Arrowstreet Capital Limited Partnership lifted its position in Gen Digital by 45.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 13,094,386 shares of the company’s stock valued at $246,567,000 after purchasing an additional 4,115,676 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in Gen Digital in the 2nd quarter worth approximately $62,004,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Gen Digital

In other news, insider Travis Witteveen sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $29.75, for a total value of $892,500.00. Following the completion of the transaction, the insider owned 466,545 shares in the company, valued at $13,879,713.75. This trade represents a 6.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ondrej Vlcek sold 200,000 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $30.00, for a total value of $6,000,000.00. Following the completion of the transaction, the director owned 3,332,904 shares of the company’s stock, valued at approximately $99,987,120. This trade represents a 5.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 558,508 shares of company stock worth $16,365,993 over the last 90 days. 9.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GEN. Argus upped their target price on shares of Gen Digital from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank Of Canada upped their target price on Gen Digital from $24.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 29th. Wells Fargo & Company boosted their price objective on shares of Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Morgan Stanley lifted their target price on shares of Gen Digital from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 29th. Finally, Wall Street Zen upgraded shares of Gen Digital from a “hold” rating to a “buy” rating in a research report on Saturday, November 7th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.20.

Gen Digital Stock Performance

Shares of NASDAQ:GEN opened at $29.69 on Friday. The company has a market cap of $17.61 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 0.96 and a beta of 1.24. The company has a 50-day moving average price of $26.52 and a 200-day moving average price of $24.59. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.57. 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 Wednesday, October 28th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. Gen Digital had a return on equity of 56.80% and a net margin of 23.07%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the business earned $0.62 EPS. Gen Digital’s revenue was up 12.2% compared to the same quarter last year. As a group, equities analysts anticipate that Gen Digital Inc. will post 2.65 EPS for the current year.

Gen Digital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 9th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.1250 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.7%. Gen Digital’s payout ratio is presently 25.13%.

About Gen Digital

Gen Digital Inc. is a global cybersecurity company that provides digital safety and identity protection services to consumers and small businesses. Its products include antivirus and malware protection, virtual private networks, password managers, scam protection, and identity monitoring and recovery services. The company offers services through brands including Norton, Avast, LifeLock, Avira, AVG, and CCleaner. Its products are available in markets around the world through direct subscriptions and other distribution channels.