Exxonmobil Investment Management Inc. TX decreased its position in Western Digital Corporation (NASDAQ:WDC) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,031 shares of the data storage provider’s stock after selling 6,817 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Western Digital were worth $3,740,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of WDC. Capital World Investors purchased a new position in shares of Western Digital during the 2nd quarter worth approximately $1,019,202,000. Vanguard Group Inc. boosted its position in shares of Western Digital by 4.2% during the 2nd quarter. Vanguard Group Inc. now owns 29,942,849 shares of the data storage provider’s stock worth $2,652,936,000 after purchasing an additional 1,201,394 shares during the period. Janus Henderson Group PLC boosted its position in shares of Western Digital by 140.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,994,833 shares of the data storage provider’s stock worth $176,746,000 after purchasing an additional 1,164,954 shares during the period. Discovery Capital Management LLC CT boosted its position in shares of Western Digital by 98.9% during the 2nd quarter. Discovery Capital Management LLC CT now owns 1,576,089 shares of the data storage provider’s stock worth $139,641,000 after purchasing an additional 783,589 shares during the period. Finally, Kensico Capital Management Corp boosted its position in shares of Western Digital by 228.2% during the 3rd quarter. Kensico Capital Management Corp now owns 1,094,508 shares of the data storage provider’s stock worth $94,565,000 after purchasing an additional 761,000 shares during the period. 83.78% of the stock is owned by institutional investors and hedge funds.

In other Western Digital news, Director Henry T. Denero sold 4,097 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $85.97, for a total transaction of $352,219.09. Following the transaction, the director now directly owns 10,834 shares of the company’s stock, valued at approximately $931,398.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael D. Cordano sold 1,401 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $85.00, for a total transaction of $119,085.00. Following the transaction, the insider now directly owns 70,560 shares in the company, valued at $5,997,600. The disclosure for this sale can be found here. Insiders have sold a total of 16,039 shares of company stock worth $1,400,999 over the last quarter. 0.31% of the stock is owned by company insiders.

Shares of Western Digital Corporation (WDC) opened at $83.12 on Friday. Western Digital Corporation has a one year low of $70.59 and a one year high of $95.77. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.13 and a current ratio of 2.64. The company has a market cap of $24,540.00, a price-to-earnings ratio of 17.35, a P/E/G ratio of 0.27 and a beta of 1.12.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, October 26th. The data storage provider reported $3.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.01 by $0.55. Western Digital had a net margin of 7.38% and a return on equity of 26.48%. The firm had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period last year, the business earned $1.18 EPS. Western Digital’s revenue for the quarter was up 9.9% compared to the same quarter last year. analysts predict that Western Digital Corporation will post 12.21 earnings per share for the current fiscal year.

Western Digital declared that its Board of Directors has initiated a stock buyback program on Thursday, November 9th that allows the company to buyback $2.10 billion in outstanding shares. This buyback authorization allows the data storage provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, December 28th. This represents a $2.00 annualized dividend and a yield of 2.41%. Western Digital’s dividend payout ratio is currently 41.75%.

A number of equities analysts recently weighed in on the stock. Morgan Stanley cut shares of Western Digital from an “overweight” rating to an “equal weight” rating and set a $120.00 price objective for the company. in a research report on Monday, November 27th. Vetr lowered shares of Western Digital from a “buy” rating to a “hold” rating and set a $95.09 target price on the stock. in a report on Tuesday, November 21st. KeyCorp reiterated a “hold” rating on shares of Western Digital in a report on Friday, October 27th. Citigroup increased their target price on shares of Western Digital from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Finally, Maxim Group reiterated a “buy” rating and set a $124.00 target price on shares of Western Digital in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Western Digital currently has an average rating of “Buy” and a consensus target price of $112.10.

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About Western Digital

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

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