Hanseatic Management Services Inc. decreased its position in Western Digital Corp (NASDAQ:WDC) by 85.9% during the fourth quarter, HoldingsChannel reports. The firm owned 1,512 shares of the data storage provider’s stock after selling 9,195 shares during the quarter. Hanseatic Management Services Inc.’s holdings in Western Digital were worth $120,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. lifted its stake in Western Digital by 17.6% during the 3rd quarter. Bessemer Group Inc. now owns 4,386 shares of the data storage provider’s stock valued at $379,000 after acquiring an additional 655 shares during the period. Amalgamated Bank lifted its stake in Western Digital by 2.1% during the 3rd quarter. Amalgamated Bank now owns 33,781 shares of the data storage provider’s stock valued at $2,919,000 after acquiring an additional 689 shares during the period. Spectrum Management Group Inc. lifted its stake in Western Digital by 3.1% during the 3rd quarter. Spectrum Management Group Inc. now owns 22,702 shares of the data storage provider’s stock valued at $1,961,000 after acquiring an additional 690 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in Western Digital by 1.4% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 51,606 shares of the data storage provider’s stock valued at $4,459,000 after acquiring an additional 700 shares during the period. Finally, ETRADE Capital Management LLC lifted its stake in Western Digital by 3.7% during the 3rd quarter. ETRADE Capital Management LLC now owns 19,897 shares of the data storage provider’s stock valued at $1,719,000 after acquiring an additional 711 shares during the period. Institutional investors own 84.97% of the company’s stock.
Shares of Western Digital Corp (NASDAQ WDC) opened at $102.86 on Tuesday. The stock has a market cap of $29,622.13, a P/E ratio of 85.01, a P/E/G ratio of 0.41 and a beta of 1.11. Western Digital Corp has a fifty-two week low of $71.38 and a fifty-two week high of $103.11. The company has a quick ratio of 2.03, a current ratio of 2.55 and a debt-to-equity ratio of 1.04.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Thursday, March 29th. Western Digital’s dividend payout ratio (DPR) is currently 165.29%.
In other Western Digital news, EVP Michael Charles Ray sold 1,208 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $88.53, for a total transaction of $106,944.24. Following the completion of the sale, the executive vice president now directly owns 40,144 shares of the company’s stock, valued at approximately $3,553,948.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Stephen D. Milligan sold 23,155 shares of the stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $94.49, for a total transaction of $2,187,915.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 187,757 shares of company stock valued at $16,522,057. Insiders own 0.31% of the company’s stock.
Several equities analysts have issued reports on the stock. BidaskClub upgraded shares of Western Digital from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Morgan Stanley cut shares of Western Digital from an “overweight” rating to an “equal weight” rating and set a $120.00 target price on the stock. in a research note on Monday, November 27th. Vetr cut shares of Western Digital from a “buy” rating to a “hold” rating and set a $95.09 target price on the stock. in a research note on Tuesday, November 21st. UBS Group assumed coverage on shares of Western Digital in a research note on Tuesday, March 6th. They set a “hold” rating and a $90.00 target price on the stock. Finally, Craig Hallum lowered their target price on shares of Western Digital from $142.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Twelve equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $111.62.
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Western Digital Company Profile
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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