Beacon Financial Group decreased its holdings in Western Digital Corporation (NASDAQ:WDC) by 30.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,869 shares of the data storage provider’s stock after selling 1,710 shares during the period. Beacon Financial Group’s holdings in Western Digital Corporation were worth $334,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Western Digital Corporation by 4.2% in the second quarter. Vanguard Group Inc. now owns 29,942,849 shares of the data storage provider’s stock valued at $2,652,936,000 after buying an additional 1,201,394 shares during the period. Capital World Investors purchased a new position in Western Digital Corporation in the second quarter valued at approximately $1,019,202,000. Iridian Asset Management LLC CT raised its holdings in Western Digital Corporation by 1.8% in the second quarter. Iridian Asset Management LLC CT now owns 5,641,706 shares of the data storage provider’s stock valued at $499,855,000 after buying an additional 100,195 shares during the period. Ameriprise Financial Inc. raised its holdings in Western Digital Corporation by 10.0% in the second quarter. Ameriprise Financial Inc. now owns 4,443,866 shares of the data storage provider’s stock valued at $393,778,000 after buying an additional 405,293 shares during the period. Finally, Northern Trust Corp raised its holdings in Western Digital Corporation by 0.5% in the second quarter. Northern Trust Corp now owns 3,191,625 shares of the data storage provider’s stock valued at $282,778,000 after buying an additional 16,436 shares during the period. Hedge funds and other institutional investors own 82.58% of the company’s stock.
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In other Western Digital Corporation news, EVP Manish H. Bhatia sold 2,762 shares of Western Digital Corporation stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $84.79, for a total transaction of $234,189.98. Following the transaction, the executive vice president now directly owns 75,467 shares of the company’s stock, valued at approximately $6,398,846.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jacqueline Demaria sold 14,358 shares of Western Digital Corporation stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $84.53, for a total value of $1,213,681.74. Following the transaction, the executive vice president now directly owns 75,772 shares in the company, valued at $6,405,007.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,679 shares of company stock worth $6,561,639. Corporate insiders own 0.31% of the company’s stock.
Shares of Western Digital Corporation (WDC) traded down 3.48% during mid-day trading on Friday, reaching $86.27. The company’s stock had a trading volume of 4,580,816 shares. The firm has a 50 day moving average price of $86.49 and a 200 day moving average price of $87.71. Western Digital Corporation has a 52-week low of $54.26 and a 52-week high of $95.77. The firm has a market cap of $25.44 billion, a price-to-earnings ratio of 64.38 and a beta of 1.24.
Western Digital Corporation (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, October 26th. The data storage provider reported $3.56 EPS for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.55. Western Digital Corporation had a return on equity of 21.23% and a net margin of 2.08%. The firm had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same quarter last year, the company earned $1.18 EPS. The company’s revenue was up 9.9% on a year-over-year basis. On average, equities analysts predict that Western Digital Corporation will post $12.42 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a $0.50 dividend. The ex-dividend date was Thursday, September 28th. This represents a $2.00 annualized dividend and a dividend yield of 2.24%. Western Digital Corporation’s payout ratio is 156.25%.
WDC has been the topic of several research reports. UBS AG restated an “add” rating on shares of Western Digital Corporation in a report on Wednesday, September 20th. Summit Redstone reaffirmed a “buy” rating on shares of Western Digital Corporation in a research report on Saturday, July 22nd. Mizuho reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Western Digital Corporation in a research report on Monday, July 17th. BTIG Research reissued a “buy” rating and set a $120.00 price target on shares of Western Digital Corporation in a research report on Friday, July 14th. Finally, Aegis reissued a “buy” rating and set a $130.00 price target on shares of Western Digital Corporation in a research report on Monday, July 3rd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $111.67.
About Western Digital Corporation
Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).
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