Sound Income Strategies LLC decreased its position in Western Digital Corp (NASDAQ:WDC) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,615 shares of the data storage provider’s stock after selling 751 shares during the period. Sound Income Strategies LLC’s holdings in Western Digital were worth $540,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in Western Digital by 22.3% during the third quarter. BlackRock Inc. now owns 25,731,691 shares of the data storage provider’s stock worth $1,506,333,000 after buying an additional 4,690,847 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Western Digital by 3,492.6% during the third quarter. Franklin Resources Inc. now owns 3,858,781 shares of the data storage provider’s stock worth $225,893,000 after buying an additional 3,751,373 shares in the last quarter. Capital International Investors purchased a new stake in Western Digital during the third quarter worth about $140,496,000. FMR LLC boosted its holdings in Western Digital by 177.7% during the third quarter. FMR LLC now owns 3,035,818 shares of the data storage provider’s stock worth $177,716,000 after buying an additional 1,942,543 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in Western Digital by 75.0% during the third quarter. Morgan Stanley now owns 3,605,774 shares of the data storage provider’s stock worth $211,082,000 after buying an additional 1,545,390 shares in the last quarter. 83.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ WDC traded up $0.36 on Friday, hitting $40.17. The company’s stock had a trading volume of 3,077,465 shares, compared to its average volume of 6,082,360. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.41 and a quick ratio of 1.70. The company has a market capitalization of $11.52 billion, a PE ratio of 2.97, a price-to-earnings-growth ratio of 0.35 and a beta of 1.22. Western Digital Corp has a 12-month low of $33.83 and a 12-month high of $106.96.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 14th. Stockholders of record on Friday, December 28th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend is Thursday, December 27th. Western Digital’s dividend payout ratio is presently 14.80%.
WDC has been the topic of a number of research analyst reports. Benchmark decreased their price objective on shares of Western Digital from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, September 21st. Guggenheim reissued a “buy” rating and set a $125.00 price objective on shares of Western Digital in a report on Monday, September 17th. Royal Bank of Canada decreased their price objective on shares of Western Digital to $68.00 and set a “sector perform” rating on the stock in a report on Monday, October 1st. BMO Capital Markets reissued a “hold” rating and set a $60.00 price objective on shares of Western Digital in a report on Thursday, October 25th. Finally, BidaskClub downgraded shares of Western Digital from a “sell” rating to a “strong sell” rating in a report on Saturday, December 8th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $79.68.
In other news, Director Matthew E. Massengill sold 1,681 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $47.68, for a total value of $80,150.08. Following the completion of the transaction, the director now owns 17,848 shares of the company’s stock, valued at $850,992.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.36% of the company’s stock.
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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