Strs Ohio reduced its stake in shares of Western Digital Corp (NASDAQ:WDC) by 39.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345,289 shares of the data storage provider’s stock after selling 227,838 shares during the period. Strs Ohio’s holdings in Western Digital were worth $21,915,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the business. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Western Digital by 1.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,268 shares of the data storage provider’s stock worth $1,413,000 after purchasing an additional 249 shares during the last quarter. Sumitomo Life Insurance Co. grew its holdings in Western Digital by 4.4% in the 4th quarter. Sumitomo Life Insurance Co. now owns 12,561 shares of the data storage provider’s stock valued at $797,000 after buying an additional 529 shares during the last quarter. Selway Asset Management grew its holdings in Western Digital by 62.8% in the 4th quarter. Selway Asset Management now owns 9,000 shares of the data storage provider’s stock valued at $571,000 after buying an additional 3,471 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Western Digital by 328.6% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,586 shares of the data storage provider’s stock valued at $101,000 after buying an additional 1,216 shares during the last quarter. Finally, Wolff Financial Management LLC bought a new position in Western Digital in the 4th quarter worth approximately $224,000. 84.55% of the stock is owned by institutional investors.
Western Digital stock opened at $69.52 on Monday. The business’s fifty day moving average is $62.15 and its two-hundred day moving average is $57.40. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.22 and a current ratio of 1.98. The firm has a market cap of $21.09 billion, a P/E ratio of -13.19, a P/E/G ratio of 20.95 and a beta of 1.87. Western Digital Corp has a 52 week low of $35.61 and a 52 week high of $72.00.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Friday, January 3rd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Thursday, January 2nd. Western Digital’s dividend payout ratio is currently 52.49%.
In other news, COO Michael D. Cordano sold 14,706 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $70.80, for a total transaction of $1,041,184.80. Following the transaction, the chief operating officer now owns 248,946 shares of the company’s stock, valued at $17,625,376.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael D. Cordano sold 1,320 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $55.12, for a total value of $72,758.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,091 shares of company stock worth $2,941,823. Insiders own 0.44% of the company’s stock.
A number of research analysts have recently commented on WDC shares. Loop Capital upgraded Western Digital from a “hold” rating to a “buy” rating and upped their price target for the stock from $50.00 to $75.00 in a report on Monday, October 14th. ValuEngine upgraded shares of Western Digital from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. Cleveland Research reiterated a “hold” rating on shares of Western Digital in a research note on Monday, October 21st. Morgan Stanley upgraded shares of Western Digital from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $64.00 to $88.00 in a report on Thursday. Finally, Wedbush upgraded shares of Western Digital from a “neutral” rating to an “outperform” rating and increased their target price for the company from $55.00 to $83.00 in a research note on Friday, January 17th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $72.76.
About Western Digital
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.
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