Alteri Wealth LLC Decreases Position in Western Digital Corporation $WDC

Alteri Wealth LLC decreased its position in Western Digital Corporation (NASDAQ:WDC) by 16.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,227 shares of the data storage provider’s stock after selling 1,833 shares during the period. Alteri Wealth LLC’s holdings in Western Digital were worth $1,108,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. SYM FINANCIAL Corp purchased a new stake in shares of Western Digital in the 2nd quarter valued at $225,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Western Digital by 12.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,317 shares of the data storage provider’s stock valued at $6,281,000 after buying an additional 5,731 shares during the period. LBP AM SA bought a new position in shares of Western Digital during the third quarter valued at about $641,000. Moloney Securities Asset Management LLC bought a new position in shares of Western Digital during the third quarter valued at about $636,000. Finally, Resona Asset Management Co. Ltd. increased its holdings in shares of Western Digital by 7.1% in the second quarter. Resona Asset Management Co. Ltd. now owns 118,888 shares of the data storage provider’s stock worth $7,594,000 after buying an additional 7,913 shares during the period. 92.51% of the stock is owned by institutional investors.

Insider Activity at Western Digital

In other Western Digital news, Director Matthew E. Massengill sold 36,926 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $260.43, for a total value of $9,616,638.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cynthia L. Tregillis sold 6,780 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $270.49, for a total transaction of $1,833,922.20. Following the completion of the sale, the insider directly owned 136,538 shares in the company, valued at $36,932,163.62. This represents a 4.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 70,522 shares of company stock valued at $17,661,708 over the last ninety days. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Weiss Ratings upgraded Western Digital from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 2nd. Evercore reissued an “outperform” rating and set a $230.00 price objective on shares of Western Digital in a research note on Friday, January 16th. Wall Street Zen cut shares of Western Digital from a “buy” rating to a “hold” rating in a report on Saturday. Argus set a $300.00 price target on shares of Western Digital in a report on Tuesday, February 3rd. Finally, Benchmark increased their price target on shares of Western Digital from $115.00 to $163.00 and gave the company a “buy” rating in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.58.

Western Digital Trading Up 0.3%

NASDAQ:WDC opened at $285.52 on Friday. The company has a 50-day moving average price of $227.88 and a 200-day moving average price of $158.98. Western Digital Corporation has a 12 month low of $28.83 and a 12 month high of $309.90. The company has a current ratio of 1.46, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The stock has a market cap of $96.80 billion, a price-to-earnings ratio of 28.64, a P/E/G ratio of 0.66 and a beta of 1.80.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, January 29th. The data storage provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.20. Western Digital had a net margin of 35.52% and a return on equity of 41.53%. The company had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the previous year, the company earned $1.77 earnings per share. Western Digital’s quarterly revenue was up 25.2% on a year-over-year basis. Equities analysts predict that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Thursday, March 5th will be given a $0.125 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $0.50 annualized dividend and a dividend yield of 0.2%. Western Digital’s dividend payout ratio is currently 5.02%.

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.