Bank of Nova Scotia lifted its position in Western Digital Corporation (NASDAQ:WDC) by 286.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 254,652 shares of the data storage provider’s stock after purchasing an additional 188,732 shares during the quarter. Bank of Nova Scotia owned approximately 0.09% of Western Digital Corporation worth $22,562,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Accredited Investors Inc. lifted its position in Western Digital Corporation by 0.4% during the 2nd quarter. Accredited Investors Inc. now owns 2,713 shares of the data storage provider’s stock worth $240,000 after acquiring an additional 11 shares during the period. Honkamp Krueger Financial Services Inc. lifted its position in Western Digital Corporation by 0.5% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 4,571 shares of the data storage provider’s stock worth $405,000 after acquiring an additional 25 shares during the period. Barry Investment Advisors LLC lifted its position in Western Digital Corporation by 0.4% during the 2nd quarter. Barry Investment Advisors LLC now owns 6,331 shares of the data storage provider’s stock worth $561,000 after acquiring an additional 26 shares during the period. People s United Financial Inc. lifted its position in Western Digital Corporation by 0.3% during the 2nd quarter. People s United Financial Inc. now owns 12,689 shares of the data storage provider’s stock worth $1,124,000 after acquiring an additional 41 shares during the period. Finally, Frontier Wealth Management LLC lifted its position in Western Digital Corporation by 3.2% during the 2nd quarter. Frontier Wealth Management LLC now owns 2,895 shares of the data storage provider’s stock worth $256,000 after acquiring an additional 91 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Michael D. Cordano sold 9,404 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $88.71, for a total value of $834,228.84. Following the completion of the sale, the insider now directly owns 75,385 shares in the company, valued at $6,687,403.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark P. Long sold 1,446 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $87.63, for a total transaction of $126,712.98. Following the completion of the sale, the insider now owns 86,939 shares of the company’s stock, valued at $7,618,464.57. The disclosure for this sale can be found here. Insiders sold 128,246 shares of company stock valued at $11,323,928 over the last quarter. 0.31% of the stock is currently owned by corporate insiders.

WDC has been the subject of a number of recent research reports. Vetr raised Western Digital Corporation from a “buy” rating to a “strong-buy” rating and set a $100.00 price objective for the company in a research report on Tuesday, September 12th. ValuEngine cut Western Digital Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Maxim Group reaffirmed a “buy” rating and set a $108.00 price objective on shares of Western Digital Corporation in a research report on Wednesday, June 21st. Mizuho reaffirmed a “buy” rating and set a $105.00 price objective on shares of Western Digital Corporation in a research report on Tuesday, September 5th. Finally, Aegis reaffirmed a “buy” rating and set a $130.00 price objective on shares of Western Digital Corporation in a research report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. Western Digital Corporation has an average rating of “Buy” and a consensus price target of $111.31.

Shares of Western Digital Corporation (WDC) traded up 0.413% on Wednesday, hitting $86.365. The company’s stock had a trading volume of 861,383 shares. The stock’s 50 day moving average price is $87.29 and its 200 day moving average price is $87.41. The stock has a market capitalization of $25.49 billion, a P/E ratio of 64.451 and a beta of 1.24. Western Digital Corporation has a 52 week low of $52.10 and a 52 week high of $95.77.

Western Digital Corporation (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, July 27th. The data storage provider reported $2.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.51 by $0.42. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 38.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 earnings per share. On average, analysts forecast that Western Digital Corporation will post $12.38 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, September 28th. Western Digital Corporation’s dividend payout ratio is presently 156.25%.

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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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