Axim Planning & Wealth Makes New Investment in Western Digital Corporation $WDC

Axim Planning & Wealth bought a new position in Western Digital Corporation (NASDAQ:WDC) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 3,801 shares of the data storage provider’s stock, valued at approximately $655,000. Western Digital comprises approximately 0.7% of Axim Planning & Wealth’s portfolio, making the stock its 23rd biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Alps Advisors Inc. increased its stake in shares of Western Digital by 0.8% in the 4th quarter. Alps Advisors Inc. now owns 4,707 shares of the data storage provider’s stock worth $811,000 after acquiring an additional 37 shares during the last quarter. Quadcap Wealth Management LLC increased its stake in shares of Western Digital by 2.1% in the 4th quarter. Quadcap Wealth Management LLC now owns 2,007 shares of the data storage provider’s stock worth $346,000 after acquiring an additional 41 shares during the last quarter. Moss Adams Wealth Advisors LLC increased its stake in shares of Western Digital by 2.6% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 1,982 shares of the data storage provider’s stock worth $341,000 after acquiring an additional 51 shares during the last quarter. Bogart Wealth LLC grew its holdings in shares of Western Digital by 19.4% during the 4th quarter. Bogart Wealth LLC now owns 369 shares of the data storage provider’s stock worth $64,000 after purchasing an additional 60 shares during the period. Finally, CYBER HORNET ETFs LLC grew its holdings in shares of Western Digital by 7.2% during the 4th quarter. CYBER HORNET ETFs LLC now owns 889 shares of the data storage provider’s stock worth $153,000 after purchasing an additional 60 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital Price Performance

Shares of Western Digital stock opened at $562.92 on Friday. The business has a 50-day moving average of $447.23 and a 200 day moving average of $307.91. Western Digital Corporation has a 12 month low of $54.60 and a 12 month high of $602.54. The stock has a market capitalization of $194.03 billion, a price-to-earnings ratio of 33.61 and a beta of 2.13.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, April 30th. The data storage provider reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same period last year, the business posted $1.36 EPS. Western Digital’s revenue for the quarter was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities research analysts anticipate that Western Digital Corporation will post 9.6 earnings per share for the current year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, June 5th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Friday, June 5th. This is a boost from Western Digital’s previous quarterly dividend of $0.13. Western Digital’s dividend payout ratio (DPR) is 3.58%.

Insider Buying and Selling

In other news, Director Bruce E. Kiddoo sold 750 shares of Western Digital stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $528.52, for a total value of $396,390.00. Following the completion of the transaction, the director owned 3,903 shares in the company, valued at approximately $2,062,813.56. This trade represents a 16.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Cynthia L. Tregillis sold 432 shares of Western Digital stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $545.60, for a total value of $235,699.20. Following the completion of the transaction, the insider owned 116,643 shares of the company’s stock, valued at $63,640,420.80. The trade was a 0.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 29,322 shares of company stock worth $12,768,550. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WDC. Evercore reiterated an “outperform” rating and set a $575.00 price target on shares of Western Digital in a report on Tuesday, May 26th. The Goldman Sachs Group reiterated a “neutral” rating and set a $400.00 price target on shares of Western Digital in a report on Friday, May 1st. Zacks Research upgraded Western Digital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Citigroup increased their price target on Western Digital from $500.00 to $685.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Finally, Jefferies Financial Group set a $575.00 price target on Western Digital in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $443.71.

More Western Digital News

Here are the key news stories impacting Western Digital this week:

• Positive Sentiment: JPMorgan raised its price target on Western Digital from $530 to $650 and reiterated an overweight rating, signaling more upside potential for the shares. Article Title
• Positive Sentiment: The company announced a Sandisk share exchange with institutional investors, a move that has been interpreted as supportive of the stock and part of a broader capital strategy. Article Title
• Positive Sentiment: Western Digital highlighted AI-focused storage innovation at Computex, reinforcing the market’s view that it is well positioned to benefit from data-center and AI infrastructure spending. Article Title
• Positive Sentiment: Analysts also pointed to strong free cash flow, a larger dividend, and a new $4 billion buyback plan, which supports the investment case by showing confidence in cash generation and shareholder returns. Article Title
• Neutral Sentiment: Western Digital has been outperforming the broader market over the past year, and brokerages still generally rate the stock a moderate buy, which supports sentiment but is more of a confirmation than a new catalyst. Article Title
• Negative Sentiment: One recent market note said WDC slipped with the broader market after a hotter-than-expected CPI report revived rate-hike concerns, showing that macro pressure can still weigh on the stock at times. Article Title

Western Digital 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.