American National Registered Investment Advisor Inc. acquired a new stake in shares of Western Digital Corp (NASDAQ:WDC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,960 shares of the data storage provider’s stock, valued at approximately $739,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Reilly Financial Advisors LLC increased its position in Western Digital Corp by 49.8% in the first quarter. Reilly Financial Advisors LLC now owns 1,383 shares of the data storage provider’s stock valued at $114,000 after buying an additional 460 shares during the period. Nikko Asset Management Americas Inc. bought a new position in Western Digital Corp during the first quarter valued at approximately $124,000. Coconut Grove Bank increased its position in Western Digital Corp by 150.0% in the first quarter. Coconut Grove Bank now owns 1,650 shares of the data storage provider’s stock valued at $136,000 after buying an additional 990 shares during the period. State of Alaska Department of Revenue bought a new position in Western Digital Corp during the first quarter valued at approximately $178,000. Finally, FNY Partners Fund LP acquired a new stake in shares of Western Digital Corp during the fourth quarter valued at about $163,000. 88.22% of the stock is currently owned by institutional investors.
Western Digital Corp (NASDAQ:WDC) traded up 0.98% during trading on Friday, reaching $86.95. The company had a trading volume of 1,315,396 shares. Western Digital Corp has a 1-year low of $38.65 and a 1-year high of $91.00. The stock’s market capitalization is $25.32 billion. The firm has a 50-day moving average of $86.07 and a 200-day moving average of $74.46.
Western Digital Corp (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, April 27th. The data storage provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.22. Western Digital Corp had a negative net margin of 2.56% and a positive return on equity of 13.38%. The firm had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same period in the prior year, the company earned $1.21 EPS. The firm’s revenue was up 64.7% on a year-over-year basis. On average, analysts anticipate that Western Digital Corp will post $8.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be given a $0.50 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $2.00 dividend on an annualized basis and a yield of 2.32%. Western Digital Corp’s payout ratio is currently -133.33%.
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Several brokerages recently issued reports on WDC. Vetr downgraded Western Digital Corp from a “hold” rating to a “sell” rating and set a $80.38 target price on the stock. in a research note on Monday, April 10th. BMO Capital Markets restated a “buy” rating and set a $104.00 price target on shares of Western Digital Corp in a report on Thursday, April 27th. Susquehanna Bancshares Inc restated a “positive” rating and set a $140.00 price target on shares of Western Digital Corp in a report on Wednesday. JPMorgan Chase & Co. restated an “overweight” rating on shares of Western Digital Corp in a report on Friday. Finally, Mizuho restated a “buy” rating on shares of Western Digital Corp in a report on Friday. Six analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $94.19.
In other news, insider Michael D. Cordano sold 27,137 shares of the company’s stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $85.07, for a total value of $2,308,544.59. Following the sale, the insider now owns 62,878 shares in the company, valued at approximately $5,349,031.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark P. Long sold 57,846 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $87.02, for a total transaction of $5,033,758.92. Following the completion of the sale, the insider now owns 114,522 shares in the company, valued at approximately $9,965,704.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 203,506 shares of company stock valued at $17,378,672. 0.46% of the stock is currently owned by corporate insiders.
Western Digital Corp Company Profile
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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