Cigna Investments Inc. New decreased its position in Western Digital Corporation (NASDAQ:WDC) by 4.8% during the second quarter, Holdings Channel reports. The institutional investor owned 11,313 shares of the data storage provider’s stock after selling 573 shares during the period. Cigna Investments Inc. New’s holdings in Western Digital Corporation were worth $1,008,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Global X Management Co. LLC boosted its stake in shares of Western Digital Corporation by 28.9% in the second quarter. Global X Management Co. LLC now owns 7,836 shares of the data storage provider’s stock worth $694,000 after buying an additional 1,757 shares in the last quarter. Seven Bridges Advisors LLC boosted its stake in shares of Western Digital Corporation by 71.0% in the second quarter. Seven Bridges Advisors LLC now owns 2,243 shares of the data storage provider’s stock worth $199,000 after buying an additional 931 shares in the last quarter. Advisor Partners LLC boosted its stake in shares of Western Digital Corporation by 5.8% in the second quarter. Advisor Partners LLC now owns 7,756 shares of the data storage provider’s stock worth $687,000 after buying an additional 427 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Western Digital Corporation by 1.4% in the second quarter. Retirement Systems of Alabama now owns 141,211 shares of the data storage provider’s stock worth $12,511,000 after buying an additional 1,963 shares in the last quarter. Finally, Korea Investment CORP boosted its stake in shares of Western Digital Corporation by 14.7% in the second quarter. Korea Investment CORP now owns 595,049 shares of the data storage provider’s stock worth $52,721,000 after buying an additional 76,459 shares in the last quarter. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Shares of Western Digital Corporation (NASDAQ WDC) opened at 79.19 on Friday. The firm has a market capitalization of $23.12 billion, a PE ratio of 59.10 and a beta of 1.22. Western Digital Corporation has a 52-week low of $43.60 and a 52-week high of $95.77. The company has a 50 day moving average of $89.25 and a 200 day moving average of $84.32.

Western Digital Corporation (NASDAQ:WDC) last issued its earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.42. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.82 billion. Western Digital Corporation had a return on equity of 21.23% and a net margin of 2.08%. The firm’s quarterly revenue was up 38.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS. On average, analysts anticipate that Western Digital Corporation will post $12.56 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a $0.50 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.53%. Western Digital Corporation’s dividend payout ratio is 156.25%.

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A number of brokerages recently weighed in on WDC. Stifel Nicolaus reiterated a “buy” rating and set a $120.00 price target on shares of Western Digital Corporation in a research note on Monday. Zacks Investment Research upgraded shares of Western Digital Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. J P Morgan Chase & Co reiterated an “overweight” rating on shares of Western Digital Corporation in a research note on Tuesday, August 1st. BMO Capital Markets set a $120.00 price target on shares of Western Digital Corporation and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, BidaskClub cut shares of Western Digital Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Western Digital Corporation presently has a consensus rating of “Buy” and an average target price of $104.93.

In other news, insider Mark P. Long sold 19,777 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $84.50, for a total value of $1,671,156.50. Following the transaction, the insider now owns 90,683 shares in the company, valued at approximately $7,662,713.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark P. Long sold 28,585 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $94.24, for a total value of $2,693,850.40. Following the completion of the transaction, the insider now owns 53,551 shares in the company, valued at approximately $5,046,646.24. The disclosure for this sale can be found here. Insiders sold a total of 126,966 shares of company stock worth $11,263,675 in the last quarter. 0.46% of the stock is owned by corporate insiders.

About Western Digital Corporation

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).

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Institutional Ownership by Quarter for Western Digital Corporation (NASDAQ:WDC)

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