Corient Private Wealth LLC Purchases 17,404 Shares of Western Digital Corporation $WDC

Corient Private Wealth LLC lifted its position in shares of Western Digital Corporation (NASDAQ:WDC) by 54.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,558 shares of the data storage provider’s stock after purchasing an additional 17,404 shares during the period. Corient Private Wealth LLC’s holdings in Western Digital were worth $3,171,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in WDC. CVA Family Office LLC boosted its position in Western Digital by 23.7% during the 2nd quarter. CVA Family Office LLC now owns 904 shares of the data storage provider’s stock worth $58,000 after buying an additional 173 shares during the period. Manchester Capital Management LLC increased its position in Western Digital by 47.2% in the 2nd quarter. Manchester Capital Management LLC now owns 577 shares of the data storage provider’s stock valued at $37,000 after acquiring an additional 185 shares during the period. Forum Financial Management LP raised its stake in shares of Western Digital by 3.4% during the second quarter. Forum Financial Management LP now owns 5,895 shares of the data storage provider’s stock valued at $377,000 after acquiring an additional 193 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Western Digital by 6.2% during the second quarter. UMB Bank n.a. now owns 3,465 shares of the data storage provider’s stock worth $222,000 after purchasing an additional 202 shares during the period. Finally, Private Wealth Management Group LLC lifted its holdings in shares of Western Digital by 102.5% during the second quarter. Private Wealth Management Group LLC now owns 399 shares of the data storage provider’s stock worth $26,000 after purchasing an additional 202 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Transactions at Western Digital

In other news, Director Kimberly Alexy sold 1,768 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $154.00, for a total value of $272,272.00. Following the completion of the sale, the director directly owned 3,585 shares in the company, valued at $552,090. This trade represents a 33.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Roxanne Oulman sold 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $154.42, for a total value of $277,956.00. Following the transaction, the director directly owned 3,863 shares in the company, valued at approximately $596,524.46. This trade represents a 31.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 26,369 shares of company stock valued at $4,013,785. 0.18% of the stock is currently owned by corporate insiders.

Western Digital Price Performance

Western Digital stock opened at $181.08 on Monday. The stock has a market capitalization of $61.91 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 1.12 and a beta of 1.82. Western Digital Corporation has a 52-week low of $28.83 and a 52-week high of $188.77. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.94 and a current ratio of 1.21. The stock’s 50 day moving average price is $152.47 and its two-hundred day moving average price is $106.02.

Western Digital (NASDAQ:WDC) last released its earnings results on Monday, April 7th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter. The company had revenue of $4.10 billion for the quarter. Western Digital had a net margin of 21.37% and a return on equity of 30.89%. On average, equities analysts predict that Western Digital Corporation will post 4.89 earnings per share for the current year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were given a dividend of $0.125 per share. This is a boost from Western Digital’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.3%. Western Digital’s payout ratio is currently 7.28%.

Analyst Ratings Changes

A number of analysts recently weighed in on WDC shares. Wedbush increased their price objective on Western Digital from $90.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. The Goldman Sachs Group reissued a “neutral” rating and issued a $148.00 price target on shares of Western Digital in a research note on Friday, October 31st. Loop Capital raised their price objective on Western Digital to $250.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. UBS Group upped their target price on Western Digital from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Finally, Rosenblatt Securities increased their target price on shares of Western Digital from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $173.65.

Western Digital Company Profile

Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.

Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.