Private Wealth Management Group LLC Has $26,000 Stock Holdings in Western Digital Corporation $WDC

Private Wealth Management Group LLC raised its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 102.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 399 shares of the data storage provider’s stock after purchasing an additional 202 shares during the quarter. Private Wealth Management Group LLC’s holdings in Western Digital were worth $26,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in WDC. Alyeska Investment Group L.P. boosted its holdings in Western Digital by 130.0% during the first quarter. Alyeska Investment Group L.P. now owns 5,029,359 shares of the data storage provider’s stock valued at $203,337,000 after purchasing an additional 2,842,822 shares in the last quarter. Deutsche Bank AG boosted its holdings in Western Digital by 107.1% during the first quarter. Deutsche Bank AG now owns 3,369,331 shares of the data storage provider’s stock valued at $136,222,000 after purchasing an additional 1,742,481 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Western Digital during the first quarter valued at approximately $50,897,000. Westfield Capital Management Co. LP acquired a new stake in Western Digital during the first quarter valued at approximately $35,406,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in Western Digital during the first quarter valued at approximately $22,849,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WDC has been the topic of a number of recent research reports. Zacks Research raised Western Digital from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Sanford C. Bernstein upgraded shares of Western Digital to a “hold” rating in a research note on Tuesday, September 16th. TD Cowen lifted their target price on shares of Western Digital from $58.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Wells Fargo & Company lifted their target price on shares of Western Digital from $95.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Benchmark lifted their target price on shares of Western Digital from $85.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $105.65.

Insider Activity at Western Digital

In other Western Digital news, insider Vidyadhara K. Gubbi sold 11,343 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $90.29, for a total transaction of $1,024,159.47. Following the completion of the sale, the insider owned 151,596 shares in the company, valued at approximately $13,687,602.84. The trade was a 6.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Gene M. Zamiska sold 3,160 shares of the company’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $75.68, for a total transaction of $239,148.80. Following the sale, the senior vice president owned 31,560 shares of the company’s stock, valued at $2,388,460.80. The trade was a 9.10% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,730 shares of company stock worth $3,921,594. Company insiders own 0.18% of the company’s stock.

Western Digital Stock Performance

WDC stock opened at $126.20 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 0.84. The company has a 50 day moving average price of $99.35 and a 200 day moving average price of $69.66. Western Digital Corporation has a fifty-two week low of $28.83 and a fifty-two week high of $137.40. The stock has a market capitalization of $43.26 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 1.06 and a beta of 1.77.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data 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. Analysts forecast that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Announces Dividend

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

Western Digital Company 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.