Zions Bancorporation National Association UT Buys 15,744 Shares of Western Digital Corporation $WDC

Zions Bancorporation National Association UT increased its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 2,162.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,472 shares of the data storage provider’s stock after buying an additional 15,744 shares during the period. Zions Bancorporation National Association UT’s holdings in Western Digital were worth $1,054,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. boosted its holdings in shares of Western Digital by 7.1% during the first quarter. Envestnet Asset Management Inc. now owns 116,812 shares of the data storage provider’s stock worth $4,723,000 after acquiring an additional 7,740 shares during the period. New Mexico Educational Retirement Board boosted its stake in Western Digital by 3.2% in the 1st quarter. New Mexico Educational Retirement Board now owns 16,114 shares of the data storage provider’s stock valued at $651,000 after purchasing an additional 500 shares during the period. Allworth Financial LP boosted its stake in 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 purchasing an additional 243 shares during the period. Cerity Partners LLC grew its holdings in Western Digital by 2.2% in the 1st quarter. Cerity Partners LLC now owns 97,167 shares of the data storage provider’s stock valued at $3,928,000 after buying an additional 2,120 shares in the last quarter. Finally, State of Michigan Retirement System increased its position in Western Digital by 0.5% during the 1st quarter. State of Michigan Retirement System now owns 105,157 shares of the data storage provider’s stock worth $4,251,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Irving Tan sold 20,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $150.69, for a total transaction of $3,013,800.00. Following the completion of the sale, the chief executive officer directly owned 645,467 shares in the company, valued at $97,265,422.23. This represents a 3.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Gene M. Zamiska sold 353 shares of the firm’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $80.90, for a total value of $28,557.70. Following the completion of the sale, the senior vice president directly owned 27,425 shares in the company, valued at $2,218,682.50. This trade represents a 1.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 65,783 shares of company stock worth $6,639,843. 0.18% of the stock is owned by company insiders.

Western Digital Trading Down 0.4%

Shares of Western Digital stock opened at $162.96 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.08 and a debt-to-equity ratio of 0.47. Western Digital Corporation has a 12-month low of $28.83 and a 12-month high of $167.50. The company has a market capitalization of $55.72 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 1.14 and a beta of 1.81. The firm’s 50-day moving average price is $118.10 and its two-hundred day moving average price is $81.43.

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

Western Digital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a dividend of $0.125 per share. The ex-dividend date is Thursday, December 4th. This is a boost from Western Digital’s previous quarterly dividend of $0.10. This represents a $0.50 annualized dividend and a yield of 0.3%. Western Digital’s dividend payout ratio is currently 7.28%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Bank of America boosted their target price on shares of Western Digital from $145.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Barclays lifted their price objective on shares of Western Digital from $105.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Wedbush increased their target price on shares of Western Digital from $90.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Cowen reaffirmed a “buy” rating on shares of Western Digital in a report on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Western Digital in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $155.47.

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.