Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in Western Digital Corp (NASDAQ:WDC) by 17.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 176,700 shares of the data storage provider’s stock after buying an additional 26,100 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned 0.06% of Western Digital worth $16,304,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of WDC. Geode Capital Management LLC raised its holdings in Western Digital by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 3,919,230 shares of the data storage provider’s stock worth $311,171,000 after purchasing an additional 171,959 shares during the period. Lyrical Asset Management LP raised its holdings in Western Digital by 3.2% in the 4th quarter. Lyrical Asset Management LP now owns 3,307,454 shares of the data storage provider’s stock worth $263,042,000 after purchasing an additional 103,165 shares during the period. LSV Asset Management raised its holdings in Western Digital by 4.9% in the 1st quarter. LSV Asset Management now owns 3,248,312 shares of the data storage provider’s stock worth $299,721,000 after purchasing an additional 151,796 shares during the period. Dimensional Fund Advisors LP raised its holdings in Western Digital by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,010,876 shares of the data storage provider’s stock worth $277,814,000 after purchasing an additional 9,662 shares during the period. Finally, Amerigo Asset Management bought a new position in Western Digital in the 1st quarter worth $238,104,000. Institutional investors own 84.29% of the company’s stock.
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In related news, EVP Michael Charles Ray sold 525 shares of Western Digital stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $82.43, for a total value of $43,275.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen D. Milligan sold 16,510 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $80.94, for a total value of $1,336,319.40. Following the transaction, the chief executive officer now owns 84,624 shares of the company’s stock, valued at approximately $6,849,466.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,830 shares of company stock valued at $9,174,733. 0.31% of the stock is currently owned by company insiders.
A number of equities analysts recently commented on WDC shares. Craig Hallum raised their target price on Western Digital from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, March 5th. BidaskClub cut Western Digital from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 26th. Benchmark reissued a “buy” rating and set a $130.00 price target on shares of Western Digital in a report on Friday, April 27th. BTIG Research reissued a “buy” rating on shares of Western Digital in a report on Sunday, April 29th. Finally, Stifel Nicolaus raised their price target on Western Digital from $105.00 to $110.00 and gave the company a “buy” rating in a report on Friday, April 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Western Digital presently has a consensus rating of “Buy” and an average target price of $111.22.
Western Digital opened at $80.51 on Wednesday, according to MarketBeat. The stock has a market capitalization of $24.02 billion, a P/E ratio of 10.19, a P/E/G ratio of 0.32 and a beta of 1.02. Western Digital Corp has a 12 month low of $75.96 and a 12 month high of $106.96. The company has a quick ratio of 1.76, a current ratio of 2.39 and a debt-to-equity ratio of 0.98.
Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, April 26th. The data storage provider reported $3.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.31 by $0.32. The company had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.93 billion. Western Digital had a return on equity of 34.22% and a net margin of 0.98%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $2.39 earnings per share. analysts anticipate that Western Digital Corp will post 13.4 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $2.00 annualized dividend and a yield of 2.48%. Western Digital’s dividend payout ratio is currently 25.32%.
Western Digital Company Profile
Western Digital Corporation, together with its subsidiaries, develops, manufactures, and sells data storage devices and solutions worldwide. It offers performance hard disk drives (HDDs) that are used in enterprise servers, data analysis, and other enterprise applications; capacity HDDs and drive configurations for use in data storage systems and tiered storage models; and enterprise solid state drives (SSDs), including NAND-flash SSDs and software solutions that are designed to enhance the performance in various enterprise workload environments.
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