Private Wealth Management Group LLC Purchases 202 Shares of Western Digital Corporation $WDC

Private Wealth Management Group LLC increased its position in shares of Western Digital Corporation (NASDAQ:WDC) by 102.5% during the 2nd quarter, Holdings Channel reports. The fund owned 399 shares of the data storage provider’s stock after buying an additional 202 shares during the quarter. Private Wealth Management Group LLC’s holdings in Western Digital were worth $26,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. boosted its stake in Western Digital by 6.2% during the 2nd quarter. UMB Bank n.a. now owns 3,465 shares of the data storage provider’s stock worth $222,000 after acquiring an additional 202 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Western Digital by 34.1% in the 1st quarter. Allworth Financial LP now owns 955 shares of the data storage provider’s stock valued at $38,000 after buying an additional 243 shares during the period. Truvestments Capital LLC grew its holdings in shares of Western Digital by 11.7% in the 1st quarter. Truvestments Capital LLC now owns 2,483 shares of the data storage provider’s stock valued at $100,000 after buying an additional 261 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Western Digital by 4.5% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,080 shares of the data storage provider’s stock valued at $246,000 after buying an additional 263 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Western Digital by 0.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,395 shares of the data storage provider’s stock valued at $1,835,000 after buying an additional 264 shares during the period. Institutional investors own 92.51% of the company’s stock.

Western Digital Price Performance

Shares of NASDAQ WDC opened at $126.20 on Friday. The firm has a market cap of $43.26 billion, a PE ratio of 24.50, a PEG ratio of 1.06 and a beta of 1.77. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. Western Digital Corporation has a 1-year low of $28.83 and a 1-year high of $137.40. The company has a fifty day moving average price of $99.35 and a 200 day moving average price of $69.66.

Western Digital (NASDAQ:WDC) last announced its earnings results on Monday, April 7th. The data storage provider reported $1.78 earnings per share for the quarter. Western Digital had a net margin of 14.13% and a return on equity of 24.93%. The firm had revenue of $4.10 billion during the quarter. Research analysts predict that Western Digital Corporation will post 4.89 earnings per share for the current fiscal year.

Western Digital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.40 annualized dividend and a yield of 0.3%. Western Digital’s payout ratio is 7.77%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WDC. Sanford C. Bernstein raised shares of Western Digital to a “hold” rating in a report on Tuesday, September 16th. Bank of America boosted their price target on shares of Western Digital from $123.00 to $141.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Morgan Stanley boosted their price target on shares of Western Digital from $92.00 to $99.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Barclays boosted their price target on shares of Western Digital from $80.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Finally, Susquehanna upped their target price on shares of Western Digital from $40.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.65.

Insider Buying and Selling at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 353 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $80.90, for a total transaction of $28,557.70. Following the sale, the senior vice president directly owned 27,425 shares of the company’s stock, valued at $2,218,682.50. The trade was a 1.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Cynthia L. Tregillis sold 14,067 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $74.78, for a total transaction of $1,051,930.26. Following the sale, the insider directly owned 135,351 shares in the company, valued at $10,121,547.78. This trade represents a 9.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,730 shares of company stock valued at $3,921,594. Corporate insiders own 0.18% of the company’s stock.

Western Digital Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.