Amalgamated Bank Acquires 355 Shares of Western Digital Corporation $WDC

Amalgamated Bank boosted its holdings in Western Digital Corporation (NASDAQ:WDC) by 0.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 67,305 shares of the data storage provider’s stock after purchasing an additional 355 shares during the quarter. Amalgamated Bank’s holdings in Western Digital were worth $4,307,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. CVA Family Office LLC lifted its position in Western Digital by 23.7% in the 2nd quarter. CVA Family Office LLC now owns 904 shares of the data storage provider’s stock valued at $58,000 after acquiring an additional 173 shares in the last quarter. Forum Financial Management LP lifted its position in Western Digital by 3.4% in the 2nd quarter. Forum Financial Management LP now owns 5,895 shares of the data storage provider’s stock valued at $377,000 after acquiring an additional 193 shares in the last quarter. UMB Bank n.a. lifted its position in Western Digital by 6.2% in the 2nd quarter. UMB Bank n.a. now owns 3,465 shares of the data storage provider’s stock valued at $222,000 after acquiring an additional 202 shares in the last quarter. Private Wealth Management Group LLC lifted its position in Western Digital by 102.5% in the 2nd quarter. Private Wealth Management Group LLC now owns 399 shares of the data storage provider’s stock valued at $26,000 after acquiring an additional 202 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its position in Western Digital by 10.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,466 shares of the data storage provider’s stock valued at $158,000 after acquiring an additional 238 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.

Western Digital Price Performance

Western Digital stock opened at $150.21 on Monday. The company’s 50 day moving average price is $110.20 and its two-hundred day moving average price is $77.11. The company has a quick ratio of 0.84, a current ratio of 1.08 and a debt-to-equity ratio of 0.47. Western Digital Corporation has a 52 week low of $28.83 and a 52 week high of $157.65. The stock has a market cap of $51.49 billion, a P/E ratio of 29.17, a P/E/G ratio of 1.14 and a beta of 1.77.

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

Western Digital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Thursday, December 4th. This is an increase from Western Digital’s previous quarterly dividend of $0.10. Western Digital’s dividend payout ratio (DPR) is 5.82%.

Insider Activity at Western Digital

In other news, insider Cynthia L. Tregillis sold 14,067 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $74.78, for a total transaction of $1,051,930.26. Following the completion of the sale, the insider owned 135,351 shares in the company, valued at $10,121,547.78. This trade represents a 9.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Gene M. Zamiska sold 353 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $80.90, for a total transaction of $28,557.70. Following the sale, the senior vice president owned 27,425 shares of the company’s stock, valued at approximately $2,218,682.50. The trade was a 1.27% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 49,730 shares of company stock worth $3,921,594. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on WDC shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Western Digital in a research report on Wednesday, October 8th. Cantor Fitzgerald raised their price target on shares of Western Digital from $160.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday. The Goldman Sachs Group reissued a “neutral” rating and set a $148.00 target price on shares of Western Digital in a research report on Friday. Mizuho lifted their target price on shares of Western Digital from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Robert W. Baird set a $180.00 target price on shares of Western Digital in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $151.63.

About Western Digital

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.