Achmea Investment Management B.V. lowered its stake in Western Digital Corporation (NASDAQ:WDC) by 59.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,011 shares of the data storage provider’s stock after selling 49,344 shares during the period. Achmea Investment Management B.V.’s holdings in Western Digital Corporation were worth $3,010,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WDC. Capital World Investors purchased a new position in Western Digital Corporation in the second quarter worth about $1,019,202,000. Vanguard Group Inc. grew its position in Western Digital Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 28,741,455 shares of the data storage provider’s stock worth $2,372,032,000 after acquiring an additional 1,250,528 shares in the last quarter. Janus Henderson Group PLC grew its position in Western Digital Corporation by 140.4% in the second quarter. Janus Henderson Group PLC now owns 1,994,833 shares of the data storage provider’s stock worth $176,746,000 after acquiring an additional 1,164,954 shares in the last quarter. Schroder Investment Management Group grew its position in Western Digital Corporation by 24,087.4% in the second quarter. Schroder Investment Management Group now owns 902,431 shares of the data storage provider’s stock worth $82,709,000 after acquiring an additional 898,700 shares in the last quarter. Finally, Discovery Capital Management LLC CT grew its position in Western Digital Corporation by 98.9% in the second quarter. Discovery Capital Management LLC CT now owns 1,576,089 shares of the data storage provider’s stock worth $139,641,000 after acquiring an additional 783,589 shares in the last quarter. Institutional investors own 82.29% of the company’s stock.
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Western Digital Corporation (WDC) traded up 2.05% during midday trading on Friday, reaching $87.23. 861,222 shares of the company’s stock traded hands. Western Digital Corporation has a 1-year low of $52.62 and a 1-year high of $95.77. The company has a market capitalization of $25.72 billion, a PE ratio of 65.10 and a beta of 1.24. The firm’s 50 day moving average price is $86.64 and its 200-day moving average price is $87.56.
Western Digital Corporation (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, July 27th. The data storage provider reported $2.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.51 by $0.42. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period last year, the firm posted $0.79 EPS. Western Digital Corporation’s revenue for the quarter was up 38.5% on a year-over-year basis. Equities analysts expect that Western Digital Corporation will post $12.40 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, September 28th. Western Digital Corporation’s payout ratio is currently 156.25%.
In other Western Digital Corporation news, EVP Jacqueline Demaria sold 14,358 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $84.53, for a total transaction of $1,213,681.74. Following the transaction, the executive vice president now directly owns 75,772 shares of the company’s stock, valued at approximately $6,405,007.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark P. Long sold 1,517 shares of Western Digital Corporation stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $80.97, for a total transaction of $122,831.49. Following the completion of the sale, the chief financial officer now directly owns 88,207 shares in the company, valued at approximately $7,142,120.79. The disclosure for this sale can be found here. Insiders have sold a total of 77,679 shares of company stock worth $6,561,639 over the last three months. 0.31% of the stock is currently owned by insiders.
Several research analysts recently commented on WDC shares. Cowen and Company lifted their price target on Western Digital Corporation from $115.00 to $117.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 27th. Jefferies Group LLC upgraded Western Digital Corporation from a “hold” rating to a “positive” rating and lifted their price target for the stock from $90.00 to $93.00 in a research report on Tuesday, June 27th. Guggenheim reiterated a “buy” rating and issued a $125.00 price target on shares of Western Digital Corporation in a research report on Tuesday, June 27th. UBS AG reiterated a “neutral” rating and issued a $92.00 price target (up previously from $90.00) on shares of Western Digital Corporation in a research report on Wednesday, June 28th. Finally, BidaskClub upgraded Western Digital Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-four have issued a buy rating and three have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $111.50.
Western Digital Corporation 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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