Western Digital Corporation (WDC) Shares Sold by Banque Pictet & Cie SA
Banque Pictet & Cie SA trimmed its position in Western Digital Corporation (NASDAQ:WDC) by 6.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,528 shares of the data storage provider’s stock after selling 4,408 shares during the quarter. Banque Pictet & Cie SA’s holdings in Western Digital Corporation were worth $5,316,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Western Digital Corporation by 4.2% during the second quarter. Vanguard Group Inc. now owns 29,942,849 shares of the data storage provider’s stock worth $2,652,936,000 after acquiring an additional 1,201,394 shares during the period. Capital World Investors acquired a new stake in Western Digital Corporation during the second quarter worth about $1,019,202,000. Iridian Asset Management LLC CT grew its holdings in Western Digital Corporation by 1.8% during the second quarter. Iridian Asset Management LLC CT now owns 5,641,706 shares of the data storage provider’s stock worth $499,855,000 after acquiring an additional 100,195 shares during the period. Ameriprise Financial Inc. grew its holdings in Western Digital Corporation by 10.0% during the second quarter. Ameriprise Financial Inc. now owns 4,443,866 shares of the data storage provider’s stock worth $393,778,000 after acquiring an additional 405,293 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Western Digital Corporation by 22.3% during the third quarter. Bank of New York Mellon Corp now owns 3,281,695 shares of the data storage provider’s stock worth $283,538,000 after acquiring an additional 598,563 shares during the period. Hedge funds and other institutional investors own 81.77% of the company’s stock.
In other Western Digital Corporation news, CFO Mark P. Long sold 4,467 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $88.13, for a total transaction of $393,676.71. Following the sale, the chief financial officer now owns 88,384 shares in the company, valued at approximately $7,789,281.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael D. Cordano sold 9,404 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $88.71, for a total value of $834,228.84. Following the sale, the insider now owns 75,385 shares in the company, valued at approximately $6,687,403.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,005 shares of company stock worth $2,377,095. Insiders own 0.31% of the company’s stock.
Western Digital Corporation (NASDAQ:WDC) traded up $0.09 on Friday, hitting $91.30. The company had a trading volume of 1,588,495 shares, compared to its average volume of 4,126,938. The firm has a market cap of $26,920.00, a PE ratio of 9.19 and a beta of 1.17. The company has a current ratio of 2.64, a quick ratio of 2.13 and a debt-to-equity ratio of 1.07. Western Digital Corporation has a 1-year low of $58.30 and a 1-year high of $95.77.
Western Digital Corporation (NASDAQ:WDC) last released its quarterly earnings results on Thursday, October 26th. The data storage provider reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.01 by $0.55. The business had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Western Digital Corporation had a return on equity of 26.48% and a net margin of 7.38%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.18 EPS. equities analysts expect that Western Digital Corporation will post 11.93 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Thursday, December 28th. Western Digital Corporation’s dividend payout ratio is currently 41.75%.
Western Digital Corporation announced that its board has initiated a stock repurchase program on Thursday, November 9th that allows the company to buyback $2.10 billion in outstanding shares. This buyback authorization allows the data storage provider to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
WDC has been the topic of several analyst reports. Vetr lowered Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $95.94 target price on the stock. in a report on Tuesday, August 22nd. Mizuho reissued a “buy” rating and issued a $105.00 price objective on shares of Western Digital Corporation in a report on Sunday, October 8th. Maxim Group reissued a “buy” rating and issued a $108.00 price objective on shares of Western Digital Corporation in a report on Wednesday, August 30th. Zacks Investment Research raised Western Digital Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, ValuEngine lowered Western Digital Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Eight investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have given a strong buy rating to the company’s stock. Western Digital Corporation has an average rating of “Buy” and an average price target of $114.59.
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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