Cornerstone Capital Management Holdings LLC. lifted its holdings in shares of Western Digital Corp (NASDAQ:WDC) by 6.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 612,103 shares of the data storage provider’s stock after purchasing an additional 35,448 shares during the period. Cornerstone Capital Management Holdings LLC. owned about 0.21% of Western Digital worth $48,679,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in WDC. Cerebellum GP LLC bought a new stake in Western Digital in the 4th quarter worth $121,000. Acadian Asset Management LLC bought a new stake in Western Digital in the 4th quarter worth $132,000. Focused Wealth Management Inc bought a new stake in Western Digital in the 4th quarter worth $143,000. SeaCrest Wealth Management LLC bought a new stake in Western Digital in the 4th quarter worth $149,000. Finally, Icon Wealth Partners LLC bought a new stake in Western Digital in the 4th quarter worth $171,000. 84.97% of the stock is currently owned by institutional investors.
In other news, insider Michael D. Cordano sold 1,401 shares of Western Digital stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $85.00, for a total value of $119,085.00. Following the completion of the sale, the insider now directly owns 70,560 shares in the company, valued at $5,997,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen D. Milligan sold 16,511 shares of Western Digital stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $84.00, for a total transaction of $1,386,924.00. Following the completion of the sale, the chief executive officer now owns 156,882 shares of the company’s stock, valued at $13,178,088. The disclosure for this sale can be found here. Insiders sold 187,757 shares of company stock valued at $16,522,057 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.
Western Digital Corp (NASDAQ:WDC) opened at $102.86 on Tuesday. The company has a quick ratio of 2.03, a current ratio of 2.55 and a debt-to-equity ratio of 1.04. The stock has a market cap of $30,610.00, a PE ratio of 15.78, a price-to-earnings-growth ratio of 0.41 and a beta of 1.11. Western Digital Corp has a twelve month low of $71.38 and a twelve month high of $103.11.
Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, January 25th. The data storage provider reported $3.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.44. The business had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.31 billion. Western Digital had a net margin of 1.93% and a return on equity of 30.78%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.30 earnings per share. sell-side analysts predict that Western Digital Corp will post 12.66 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be issued a $0.50 dividend. The ex-dividend date is Thursday, March 29th. This represents a $2.00 annualized dividend and a yield of 1.94%. Western Digital’s dividend payout ratio (DPR) is presently 30.67%.
TRADEMARK VIOLATION NOTICE: This piece of content was originally published by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/03/13/cornerstone-capital-management-holdings-llc-acquires-35448-shares-of-western-digital-corp-wdc.html.
About Western Digital
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).
Want to see what other hedge funds are holding WDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Digital Corp (NASDAQ:WDC).
Receive News & Ratings for Western Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital and related companies with MarketBeat.com's FREE daily email newsletter.