First National Bank of Omaha reduced its holdings in Western Digital Corp (NASDAQ:WDC) by 3.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 38,612 shares of the data storage provider’s stock after selling 1,448 shares during the period. First National Bank of Omaha’s holdings in Western Digital were worth $3,071,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Cookson Peirce & Co. Inc. raised its stake in Western Digital by 0.6% during the second quarter. Cookson Peirce & Co. Inc. now owns 3,600 shares of the data storage provider’s stock worth $319,000 after purchasing an additional 20 shares during the period. Bessemer Group Inc. raised its stake in Western Digital by 17.6% during the third quarter. Bessemer Group Inc. now owns 4,386 shares of the data storage provider’s stock worth $379,000 after purchasing an additional 655 shares during the period. Profit Investment Management LLC raised its stake in Western Digital by 17.4% during the third quarter. Profit Investment Management LLC now owns 4,417 shares of the data storage provider’s stock worth $382,000 after purchasing an additional 656 shares during the period. Amalgamated Bank raised its stake in Western Digital by 2.1% during the third quarter. Amalgamated Bank now owns 33,781 shares of the data storage provider’s stock worth $2,919,000 after purchasing an additional 689 shares during the period. Finally, Spectrum Management Group Inc. raised its stake in Western Digital by 3.1% during the third quarter. Spectrum Management Group Inc. now owns 22,702 shares of the data storage provider’s stock worth $1,961,000 after purchasing an additional 690 shares during the period. 84.52% of the stock is currently owned by hedge funds and other institutional investors.

Western Digital Corp (NASDAQ WDC) opened at $80.09 on Friday. The company has a quick ratio of 2.03, a current ratio of 2.55 and a debt-to-equity ratio of 1.04. The firm has a market cap of $24,908.77, a P/E ratio of 7.22, a P/E/G ratio of 0.35 and a beta of 1.13. Western Digital Corp has a twelve month low of $71.38 and a twelve month high of $95.77.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Thursday, January 25th. The data storage provider reported $3.95 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.44. The firm had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.31 billion. Western Digital had a net margin of 1.93% and a return on equity of 30.78%. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.30 earnings per share. research analysts expect that Western Digital Corp will post 12.62 EPS for the current fiscal year.

Western Digital declared that its board has approved a stock repurchase program on Thursday, November 9th that permits the company to buyback $2.10 billion in shares. This buyback authorization permits the data storage provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Thursday, March 29th. Western Digital’s dividend payout ratio (DPR) is currently 165.29%.

In other Western Digital news, EVP Michael Charles Ray sold 35,009 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $86.73, for a total transaction of $3,036,330.57. Following the completion of the transaction, the executive vice president now owns 70,164 shares in the company, valued at approximately $6,085,323.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen D. Milligan sold 90,755 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $88.12, for a total transaction of $7,997,330.60. The disclosure for this sale can be found here. Insiders sold 158,393 shares of company stock valued at $13,801,887 in the last 90 days. Company insiders own 0.31% of the company’s stock.

A number of equities analysts have commented on WDC shares. UBS Group reduced their target price on shares of Western Digital from $101.00 to $93.00 and set a “neutral” rating on the stock in a research note on Thursday, October 12th. Vetr upgraded shares of Western Digital from a “buy” rating to a “strong-buy” rating and set a $98.49 price target for the company in a research report on Monday, October 16th. BidaskClub upgraded shares of Western Digital from a “hold” rating to a “buy” rating in a research report on Tuesday, October 17th. Zacks Investment Research upgraded shares of Western Digital from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, KeyCorp reiterated a “hold” rating on shares of Western Digital in a research report on Friday, October 27th. Thirteen investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $111.78.

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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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