Arista Wealth Management LLC Invests $256,000 in Western Digital Corporation $WDC

Arista Wealth Management LLC bought a new position in shares of Western Digital Corporation (NASDAQ:WDC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,000 shares of the data storage provider’s stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. UMB Bank n.a. increased its position in shares of Western Digital by 6.2% during the second quarter. UMB Bank n.a. now owns 3,465 shares of the data storage provider’s stock worth $222,000 after acquiring an additional 202 shares during the last quarter. Allworth Financial LP increased its position in shares of Western Digital by 34.1% during the first quarter. Allworth Financial LP now owns 955 shares of the data storage provider’s stock worth $38,000 after acquiring an additional 243 shares during the last quarter. Truvestments Capital LLC increased its position in shares of Western Digital by 11.7% during the first quarter. Truvestments Capital LLC now owns 2,483 shares of the data storage provider’s stock worth $100,000 after acquiring an additional 261 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Western Digital by 4.5% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,080 shares of the data storage provider’s stock worth $246,000 after acquiring an additional 263 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Western Digital by 0.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,395 shares of the data storage provider’s stock worth $1,835,000 after acquiring an additional 264 shares during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Western Digital Stock Up 0.2%

NASDAQ:WDC opened at $126.20 on Friday. The firm has a market capitalization of $43.26 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 1.06 and a beta of 1.77. The stock has a 50 day moving average of $99.35 and a 200-day moving average of $69.66. Western Digital Corporation has a 52 week low of $28.83 and a 52 week high of $137.40. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47.

Western Digital (NASDAQ:WDC) last posted its earnings results on Monday, April 7th. The data storage provider reported $1.78 EPS for the quarter. The company had revenue of $4.10 billion during the quarter. Western Digital had a return on equity of 24.93% and a net margin of 14.13%. Analysts predict that Western Digital Corporation will post 4.89 EPS for the current year.

Western Digital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. Western Digital’s dividend payout ratio is 7.77%.

Analyst Ratings Changes

WDC has been the subject of several research analyst reports. Wedbush boosted their price objective on Western Digital from $90.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday. Sanford C. Bernstein raised Western Digital to a “hold” rating in a report on Tuesday, September 16th. UBS Group boosted their price objective on Western Digital from $45.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, July 21st. The Goldman Sachs Group boosted their price objective on Western Digital from $78.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. Finally, Mizuho boosted their price objective on Western Digital from $120.00 to $160.00 and gave the company an “outperform” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.65.

Insider Buying and Selling

In other news, CEO Irving Tan sold 8,621 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $75.90, for a total transaction of $654,333.90. Following the completion of the transaction, the chief executive officer directly owned 594,836 shares in the company, valued at approximately $45,148,052.40. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Gene M. Zamiska sold 3,160 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $75.68, for a total value of $239,148.80. Following the transaction, the senior vice president owned 31,560 shares of the company’s stock, valued at approximately $2,388,460.80. This represents a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,730 shares of company stock valued at $3,921,594 over the last three months. 0.18% of the stock is owned by company insiders.

Western Digital Company Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.