First Citizens Bank & Trust Co. decreased its position in Western Digital Corporation (NASDAQ:WDC) by 31.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,826 shares of the data storage provider’s stock after selling 1,735 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Western Digital were worth $304,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Swiss National Bank lifted its holdings in Western Digital by 2.1% in the 3rd quarter. Swiss National Bank now owns 1,073,763 shares of the data storage provider’s stock worth $92,773,000 after purchasing an additional 21,900 shares during the last quarter. 1st Global Advisors Inc. acquired a new stake in Western Digital in the 2nd quarter worth approximately $1,148,000. Iridian Asset Management LLC CT lifted its holdings in Western Digital by 4.9% in the 3rd quarter. Iridian Asset Management LLC CT now owns 5,920,657 shares of the data storage provider’s stock worth $511,545,000 after purchasing an additional 278,951 shares during the last quarter. First Republic Investment Management Inc. lifted its holdings in Western Digital by 2.9% in the 3rd quarter. First Republic Investment Management Inc. now owns 116,791 shares of the data storage provider’s stock worth $10,091,000 after purchasing an additional 3,280 shares during the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd lifted its holdings in Western Digital by 102.3% in the 4th quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 8,900 shares of the data storage provider’s stock worth $708,000 after purchasing an additional 4,500 shares during the last quarter. 83.78% of the stock is owned by institutional investors and hedge funds.
In other Western Digital news, CFO Mark P. Long sold 4,467 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $88.13, for a total value of $393,676.71. Following the sale, the chief financial officer now directly owns 88,384 shares in the company, valued at $7,789,281.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael D. Cordano sold 1,397 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $88.13, for a total value of $123,117.61. Following the completion of the sale, the insider now owns 70,556 shares in the company, valued at $6,218,100.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,039 shares of company stock worth $1,400,999. 0.31% of the stock is currently owned by company insiders.
Shares of Western Digital Corporation (NASDAQ:WDC) opened at $83.12 on Friday. The stock has a market capitalization of $24,540.00, a P/E ratio of 17.35, a PEG ratio of 0.27 and a beta of 1.12. 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 $70.59 and a 1 year high of $95.77.
Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, October 26th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, beating 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 had a return on equity of 26.48% and a net margin of 7.38%. Western Digital’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.18 earnings per share. analysts predict that Western Digital Corporation will post 12.21 EPS for the current year.
Western Digital announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 9th that authorizes the company to repurchase $2.10 billion in outstanding shares. This repurchase authorization authorizes the data storage provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, December 28th. Western Digital’s dividend payout ratio is presently 41.75%.
Western Digital 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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