Moody National Bank Trust Division Acquires Shares of 8,815 Western Digital Corp (WDC)
Moody National Bank Trust Division acquired a new position in shares of Western Digital Corp (NASDAQ:WDC) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 8,815 shares of the data storage provider’s stock, valued at approximately $727,000.
A number of other large investors have also modified their holdings of WDC. Reilly Financial Advisors LLC increased its position in Western Digital Corp by 49.8% in the first quarter. Reilly Financial Advisors LLC now owns 1,383 shares of the data storage provider’s stock worth $114,000 after buying an additional 460 shares in the last quarter. FNY Partners Fund LP purchased a new position in Western Digital Corp during the fourth quarter worth approximately $163,000. Eads & Heald Investment Counsel purchased a new position in Western Digital Corp during the third quarter worth approximately $200,000. Ifrah Financial Services Inc. purchased a new position in Western Digital Corp during the third quarter worth approximately $201,000. Finally, Yorktown Management & Research Co Inc purchased a new position in Western Digital Corp during the third quarter worth approximately $216,000. Hedge funds and other institutional investors own 88.22% of the company’s stock.
Shares of Western Digital Corp (NASDAQ:WDC) traded down 1.15% during trading on Friday, hitting $83.44. The company had a trading volume of 1,761,763 shares. The stock’s market cap is $24.04 billion. The firm has a 50 day moving average of $79.74 and a 200 day moving average of $69.89. Western Digital Corp has a 12-month low of $34.99 and a 12-month high of $88.00.
Western Digital Corp (NASDAQ:WDC) last released its quarterly earnings data on Wednesday, January 25th. The data storage provider reported $2.30 EPS for the quarter, beating the Zacks’ consensus estimate of $2.12 by $0.18. Western Digital Corp had a negative net margin of 2.56% and a positive return on equity of 13.38%. The business earned $4.89 billion during the quarter, compared to analysts’ expectations of $4.76 billion. The firm’s quarterly revenue was up 47.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 EPS. On average, analysts forecast that Western Digital Corp will post $8.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Friday, March 31st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Wednesday, March 29th. Western Digital Corp’s dividend payout ratio (DPR) is presently -133.33%.
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WDC has been the topic of a number of research analyst reports. Royal Bank of Canada increased their target price on Western Digital Corp to $90.00 in a report on Thursday, January 26th. Cowen and Company increased their target price on Western Digital Corp to $89.00 in a report on Thursday, January 26th. TheStreet raised Western Digital Corp from a “c” rating to a “b-” rating in a report on Wednesday, January 25th. Guggenheim initiated coverage on Western Digital Corp in a report on Wednesday, January 4th. They set a “buy” rating and a $100.00 target price on the stock. Finally, Jefferies Group LLC increased their target price on Western Digital Corp from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, January 24th. Six equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $86.82.
In other Western Digital Corp news, EVP Manish H. Bhatia sold 34,734 shares of the stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $75.18, for a total transaction of $2,611,302.12. Following the completion of the transaction, the executive vice president now owns 81,948 shares in the company, valued at approximately $6,160,850.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael D. Cordano sold 27,137 shares of the stock in a transaction dated Monday, April 10th. The stock was sold at an average price of $85.07, for a total value of $2,308,544.59. Following the transaction, the insider now owns 62,878 shares of the company’s stock, valued at approximately $5,349,031.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 136,186 shares of company stock valued at $10,656,630. Corporate insiders own 0.46% of the company’s stock.
Western Digital Corp 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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