Chevy Chase Trust Holdings LLC Buys 1,858 Shares of Western Digital Corporation $WDC

Chevy Chase Trust Holdings LLC increased its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 184,275 shares of the data storage provider’s stock after acquiring an additional 1,858 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Western Digital worth $11,792,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Arista Wealth Management LLC bought a new position in Western Digital during the second quarter worth $256,000. Nordea Investment Management AB increased its position in Western Digital by 9.6% during the second quarter. Nordea Investment Management AB now owns 30,434 shares of the data storage provider’s stock worth $1,938,000 after acquiring an additional 2,656 shares during the period. Praxis Investment Management Inc. bought a new position in Western Digital during the second quarter worth $335,000. Rheos Capital Works Inc. bought a new stake in Western Digital in the 2nd quarter valued at $11,518,000. Finally, Generali Asset Management SPA SGR bought a new stake in Western Digital in the 2nd quarter valued at $2,151,000. Institutional investors own 92.51% of the company’s stock.

Insider Activity

In related news, insider Cynthia L. Tregillis sold 14,067 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 135,351 shares in the company, valued at $10,121,547.78. This represents a 9.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Gene M. Zamiska sold 353 shares of the stock in a transaction dated 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 directly owned 27,425 shares in the company, valued at approximately $2,218,682.50. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,730 shares of company stock worth $3,921,594 in the last quarter. 0.18% of the stock is owned by company insiders.

Western Digital Stock Up 0.2%

WDC opened at $126.20 on Monday. The firm’s 50-day simple moving average is $99.35 and its 200-day simple moving average is $70.10. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.84 and a current ratio of 1.08. Western Digital Corporation has a twelve month low of $28.83 and a twelve month high of $137.40. The firm has a market cap of $43.26 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 1.06 and a beta of 1.77.

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

Western Digital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a $0.10 dividend. 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 presently 7.77%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on WDC shares. UBS Group boosted their price target on shares of Western Digital from $45.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Sanford C. Bernstein raised shares of Western Digital to a “hold” rating in a report on Tuesday, September 16th. Loop Capital boosted their price target on shares of Western Digital from $92.00 to $150.00 and gave the company a “buy” rating in a report on Thursday. Barclays boosted their price target on shares of Western Digital from $80.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Finally, Benchmark boosted their price target on shares of Western Digital from $85.00 to $115.00 and gave the company a “buy” rating in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.65.

Western Digital 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.