Alteri Wealth LLC Sells 1,833 Shares of 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 Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Western Digital by 7.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock valued at $1,698,000 after acquiring an additional 3,019 shares during the period. Geneos Wealth Management Inc. increased its stake in Western Digital by 229.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock valued at $56,000 after purchasing an additional 967 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Western Digital during the second quarter valued at about $307,000. D.A. Davidson & CO. raised its holdings in shares of Western Digital by 318.9% during the second quarter. D.A. Davidson & CO. now owns 23,847 shares of the data storage provider’s stock valued at $1,526,000 after purchasing an additional 18,154 shares during the period. Finally, FNY Investment Advisers LLC boosted its position in shares of Western Digital by 178.3% during the 2nd quarter. FNY Investment Advisers LLC now owns 668 shares of the data storage provider’s stock worth $42,000 after purchasing an additional 428 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Price Performance

WDC opened at $285.52 on Friday. Western Digital Corporation has a 1 year low of $28.83 and a 1 year high of $309.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 1.19. The company has a market capitalization 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. The firm’s fifty day moving average price is $227.88 and its two-hundred day moving average price is $158.98.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, January 29th. The data storage provider reported $2.13 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 during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the prior year, the company posted $1.77 earnings per share. The firm’s revenue for the quarter was up 25.2% on a year-over-year basis. As a group, analysts anticipate that Western Digital Corporation will post 4.89 earnings per share for the current fiscal year.

Western Digital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Thursday, March 5th will be given a dividend of $0.125 per share. 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 (DPR) is currently 5.02%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WDC. Wells Fargo & Company boosted their target price on Western Digital from $260.00 to $335.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Wall Street Zen cut Western Digital from a “buy” rating to a “hold” rating in a research note on Saturday. Rosenblatt Securities reaffirmed a “buy” rating and set a $340.00 target price on shares of Western Digital in a research report on Wednesday, February 4th. China Renaissance began coverage on shares of Western Digital in a research report on Friday, December 5th. They issued a “buy” rating and a $193.00 price target for the company. Finally, Mizuho boosted their price target on shares of Western Digital to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Western Digital currently has an average rating of “Moderate Buy” and an average target price of $265.58.

Insider Transactions at Western Digital

In other news, Director Matthew E. Massengill sold 36,926 shares of the company’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Cynthia L. Tregillis sold 6,780 shares of Western Digital stock in a transaction on Friday, February 6th. The stock was sold at an average price of $270.49, for a total value of $1,833,922.20. Following the sale, the insider owned 136,538 shares in the company, valued at $36,932,163.62. This trade represents a 4.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 70,522 shares of company stock worth $17,661,708. 0.18% of the stock is owned by insiders.

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.