Chevy Chase Trust Holdings Inc. decreased its position in Western Digital Corp. (NASDAQ:WDC) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 344,873 shares of the data storage provider’s stock after selling 13,081 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.12% of Western Digital Corp. worth $20,165,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in WDC. Vanguard Group Inc. raised its position in Western Digital Corp. by 24.7% in the second quarter. Vanguard Group Inc. now owns 24,858,936 shares of the data storage provider’s stock worth $1,174,834,000 after buying an additional 4,925,997 shares during the period. State Street Corp raised its position in Western Digital Corp. by 7.7% in the second quarter. State Street Corp now owns 10,767,538 shares of the data storage provider’s stock worth $508,875,000 after buying an additional 772,439 shares during the period. American International Group Inc. raised its position in Western Digital Corp. by 8,124.5% in the second quarter. American International Group Inc. now owns 9,620,001 shares of the data storage provider’s stock worth $454,641,000 after buying an additional 9,503,034 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Western Digital Corp. by 9.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 7,225,832 shares of the data storage provider’s stock worth $341,493,000 after buying an additional 646,379 shares during the period. Finally, BlackRock Fund Advisors raised its position in Western Digital Corp. by 25.1% in the second quarter. BlackRock Fund Advisors now owns 4,625,720 shares of the data storage provider’s stock worth $218,612,000 after buying an additional 929,412 shares during the period. 87.28% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Western Digital Corp. (NASDAQ:WDC)

Shares of Western Digital Corp. (NASDAQ:WDC) traded up 3.62% during midday trading on Friday, reaching $60.93. The company’s stock had a trading volume of 4,837,313 shares. The stock’s market capitalization is $17393.93 billion. The stock’s 50 day moving average is $56.89 and its 200 day moving average is $49.67. Western Digital Corp. has a 12 month low of $34.99 and a 12 month high of $64.73.

Western Digital Corp. (NASDAQ:WDC) last issued its quarterly earnings data on Wednesday, October 26th. The data storage provider reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.13. The business earned $4.71 billion during the quarter, compared to the consensus estimate of $4.51 billion. Western Digital Corp. had a positive return on equity of 11.74% and a negative net margin of 2.73%. The business’s revenue was up 40.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.56 earnings per share. On average, analysts forecast that Western Digital Corp. will post $6.62 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $2.00 annualized dividend and a dividend yield of 3.28%. Western Digital Corp.’s dividend payout ratio is presently -162.60%.

A number of equities analysts have weighed in on WDC shares. Barclays PLC boosted their price objective on Western Digital Corp. from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 16th. Stifel Nicolaus restated a “buy” rating and issued a $75.00 target price on shares of Western Digital Corp. in a research report on Sunday, July 31st. Argus restated a “buy” rating and issued a $60.00 target price on shares of Western Digital Corp. in a research report on Saturday, September 10th. FBR & Co lifted their target price on Western Digital Corp. from $50.00 to $55.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 7th. Finally, Susquehanna restated a “positive” rating and issued a $80.00 target price on shares of Western Digital Corp. in a research report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Western Digital Corp. presently has an average rating of “Buy” and an average price target of $67.70.

In other Western Digital Corp. news, Director Matthew E. Massengill sold 2,187 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $57.31, for a total value of $125,336.97. Following the transaction, the director now owns 15,579 shares of the company’s stock, valued at $892,832.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Charles Ray sold 2,719 shares of the company’s stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $58.63, for a total value of $159,414.97. Following the completion of the transaction, the executive vice president now directly owns 51,843 shares in the company, valued at approximately $3,039,555.09. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.

About Western Digital Corp.

Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage solutions that enable consumers, businesses, governments and other organizations to create, manage, experience and preserve digital content. The Company’s product portfolio includes hard disk drives (HDDs), solid-state drives, direct attached storage solutions, personal cloud network attached storage solutions, and public and private cloud data center storage solutions.

5 Day Chart for NASDAQ:WDC

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