Apriem Advisors reduced its position in shares of Western Digital Corporation (NASDAQ:WDC) by 25.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 77,985 shares of the data storage provider’s stock after selling 26,139 shares during the period. Western Digital Corporation accounts for about 1.8% of Apriem Advisors’ investment portfolio, making the stock its 15th largest position. Apriem Advisors’ holdings in Western Digital Corporation were worth $6,909,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. American Beacon Advisors Inc. purchased a new position in Western Digital Corporation during the first quarter worth approximately $111,000. Acrospire Investment Management LLC purchased a new position in Western Digital Corporation during the first quarter worth approximately $112,000. Harbour Capital Advisors LLC purchased a new position in Western Digital Corporation during the first quarter worth approximately $117,000. SRS Capital Advisors Inc. boosted its position in Western Digital Corporation by 26.7% in the first quarter. SRS Capital Advisors Inc. now owns 1,453 shares of the data storage provider’s stock worth $119,000 after buying an additional 306 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. purchased a new position in Western Digital Corporation during the first quarter worth approximately $124,000. Institutional investors own 81.91% of the company’s stock.

Shares of Western Digital Corporation (WDC) traded down 1.03% during midday trading on Monday, hitting $82.34. The stock had a trading volume of 323,910 shares. The stock has a market cap of $24.04 billion, a PE ratio of 61.45 and a beta of 1.22. The firm has a 50 day moving average price of $87.67 and a 200-day moving average price of $84.55. Western Digital Corporation has a 52-week low of $45.25 and a 52-week high of $95.77.

Western Digital Corporation (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, July 27th. The data storage provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.42. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.82 billion. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. Western Digital Corporation’s quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 earnings per share. Equities analysts predict that Western Digital Corporation will post $12.54 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a yield of 2.40%. Western Digital Corporation’s dividend payout ratio is presently 156.25%.

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A number of research analysts recently weighed in on WDC shares. Cowen and Company raised their price objective on Western Digital Corporation from $90.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, April 28th. BidaskClub lowered Western Digital Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $140.00 price objective on shares of Western Digital Corporation in a research report on Wednesday, May 17th. Jefferies Group LLC reaffirmed a “hold” rating and set a $90.00 price objective on shares of Western Digital Corporation in a research report on Wednesday, June 28th. Finally, Bank of America Corporation raised Western Digital Corporation from a “neutral” rating to a “buy” rating in a research report on Friday, April 28th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $104.66.

In other news, COO Michael D. Cordano sold 4,954 shares of the business’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $94.98, for a total transaction of $470,530.92. Following the transaction, the chief operating officer now directly owns 66,092 shares in the company, valued at $6,277,418.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael D. Cordano sold 11,322 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $85.00, for a total transaction of $962,370.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 123,644 shares of company stock worth $10,946,300. 0.46% of the stock is currently owned by company insiders.

Western Digital Corporation 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).

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

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