Vanguard Group Inc. increased its stake in Gen Digital Inc. by 3.7%, acquiring 2,513,464 shares and now owns approximately 11.31% of the company, valued at $1.85 billion. According to its most recent filing with the Securities and Exchange Commission (SEC), Vanguard Group Inc. owned 69,690,768 shares of Gen Digital's stock after the acquisition. Institutional investors collectively hold 81.38% of Gen Digital's stock, with several hedge funds recently increasing their positions during the fourth quarter. Gen Digital reported a quarterly earnings of $0.64 per share, surpassing analysts' expectations and indicating a 30.3% revenue increase year-over-year. The company had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.19 billion, and earned $0.53 earnings per share during the same period last year. Gen Digital also announced a quarterly dividend of $0.125 per share, payable on Wednesday, September 10th, to shareholders of record on Monday, August 18th, resulting in an annualized dividend of $0.50 and a dividend yield of 1.6%. The dividend payout ratio is 48.08%. The company has a market capitalization of $18.75 billion, a P/E ratio of 31.39, a price-to-earnings-growth ratio of 1.11, and a beta of 1.00. Its current ratio and quick ratio are both 0.51, and its debt-to-equity ratio is 3.51. Analyst ratings have shifted recently: Royal Bank of Canada raised its price target to $33.00 and gave a 'sector perform' rating; Evercore ISI initiated coverage with an 'outperform' rating and a $35.00 target; Wells Fargo & Company increased its target to $40.00 with an 'overweight' rating; B. Riley issued a 'buy' rating and a $46.00 target; and Morgan Stanley reduced its target to $25.00 with an 'equal weight' rating. Three analysts have a 'hold' rating, four have a 'buy' rating, and one has a 'strong buy' rating, resulting in a consensus rating of 'Moderate Buy' and an average target price of $35.33. Director activity included a sale of 31,646 shares at $28.76, reducing ownership by 47.58%. Other institutional activity includes Universal Beteiligungs und Servicegesellschaft mbH, QSM Asset Management Ltd, Brighton Jones LLC, Wellington Management Group LLP, and Kera Capital Partners Inc., all of whom increased their holdings in the fourth quarter or first quarter. Gen Digital's stock opened at $30.45 on Friday, with a 50-day moving average of $29.64 and a 200-day moving average of $27.83. The stock has a 12-month low of $22.74 and a 12-month high of $31.72. The company provides cyber safety solutions under brands such as Norton, Avast, Avira, AVG, and CCleaner for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan.

Vanguard Group Inc. Acquires 2,513,464 Shares of Gen Digital Inc. (NASDAQ:GEN)

Vanguard Group Inc. increased its stake in Gen Digital Inc. by 3.7%, acquiring 2,513,464 shares and now owns approximately 11.31% of the company, valued at $1.85 billion. Gen Digital reported a quarterly earnings of $0.64 per share, exceeding expectations with a 30.3% year-over-year revenue increase to $1.26 billion. The company announced a quarterly dividend of $0.125 per share, resulting in an annualized dividend of $0.50 and a dividend yield of 1.6%. Institutional investors collectively hold 81.38% of Gen Digital's stock, with several hedge funds increasing their positions in the fourth quarter. Analyst ratings have shifted, with Evercore ISI, Wells Fargo & Company, and B. Riley issuing 'outperform' or 'buy' ratings, while Morgan Stanley reduced its target. Gen Digital operates cyber safety solutions under brands like Norton, Avast, Avira, AVG, and CCleaner, serving consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan.