Global Retirement Partners LLC boosted its holdings in Western Digital Corporation (NASDAQ:WDC – Free Report) by 1,266.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 19,204 shares of the data storage provider’s stock after acquiring an additional 17,799 shares during the period. Global Retirement Partners LLC’s holdings in Western Digital were worth $3,308,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Quadcap Wealth Management LLC grew its stake in Western Digital by 2.1% in the 4th quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider’s stock valued at $346,000 after acquiring an additional 41 shares during the last quarter. Moss Adams Wealth Advisors LLC grew its stake in Western Digital by 2.6% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 1,982 shares of the data storage provider’s stock valued at $341,000 after acquiring an additional 51 shares during the last quarter. Bogart Wealth LLC grew its stake in Western Digital by 19.4% in the 4th quarter. Bogart Wealth LLC now owns 369 shares of the data storage provider’s stock valued at $64,000 after acquiring an additional 60 shares during the last quarter. 44 Wealth Management LLC grew its stake in Western Digital by 0.8% in the 3rd quarter. 44 Wealth Management LLC now owns 9,329 shares of the data storage provider’s stock valued at $1,120,000 after acquiring an additional 78 shares during the last quarter. Finally, Addison Advisors LLC raised its stake in Western Digital by 7.1% in the 3rd quarter. Addison Advisors LLC now owns 1,281 shares of the data storage provider’s stock valued at $154,000 after purchasing an additional 85 shares during the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, insider Cynthia L. Tregillis sold 9,324 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $268.27, for a total transaction of $2,501,349.48. Following the completion of the transaction, the insider owned 121,682 shares of the company’s stock, valued at $32,643,630.14. This represents a 7.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the transaction, the chief executive officer directly owned 598,150 shares of the company’s stock, valued at approximately $246,342,096. This represents a 3.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 53,785 shares of company stock valued at $18,097,954 in the last 90 days. 0.18% of the stock is currently owned by insiders.
Western Digital Price Performance
Western Digital (NASDAQ:WDC – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.39 by $0.33. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the prior year, the company posted $1.36 EPS. The company’s quarterly revenue was up 45.5% compared to the same quarter last year. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. As a group, equities research analysts anticipate that Western Digital Corporation will post 9.57 EPS for the current year.
Western Digital Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. This is an increase from Western Digital’s previous quarterly dividend of $0.13. Western Digital’s dividend payout ratio is currently 2.99%.
Analyst Upgrades and Downgrades
WDC has been the topic of several analyst reports. Wedbush reaffirmed an “outperform” rating and set a $325.00 price target on shares of Western Digital in a research note on Monday, February 9th. Bank of America raised their price target on shares of Western Digital to $495.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Zacks Research raised shares of Western Digital from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Citigroup boosted their price objective on shares of Western Digital from $405.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Mizuho set a $470.00 price objective on shares of Western Digital in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $395.83.
Western Digital Company Profile
Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.
Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.
Read More
- Five stocks we like better than Western Digital
- SpaceX IPO: Opportunity? Or the Ultimate Hype Trade?
- CAVA Group’s Stock Looks Delicious After Strong Earnings
- Lowe’s Finds Support at $215 After Q1 Earnings Sell-Off
- Deere Beats Q2 Estimates, But Ag Weakness Weighs on Outlook
Want to see what other hedge funds are holding WDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Digital Corporation (NASDAQ:WDC – Free Report).
Receive News & Ratings for Western Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital and related companies with MarketBeat.com's FREE daily email newsletter.
