Alteri Wealth LLC Sells 3,472 Shares of Western Digital Corporation $WDC

Alteri Wealth LLC decreased its position in shares of Western Digital Corporation (NASDAQ:WDC - Free Report) by 37.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,755 shares of the data storage provider's stock after selling 3,472 shares during the quarter. Alteri Wealth LLC's holdings in Western Digital were worth $991,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of WDC. Norges Bank bought a new position in Western Digital in the fourth quarter valued at approximately $788,729,000. Fred Alger Management LLC raised its holdings in shares of Western Digital by 4,923.9% in the third quarter. Fred Alger Management LLC now owns 3,407,042 shares of the data storage provider's stock valued at $409,049,000 after purchasing an additional 3,339,225 shares during the last quarter. Soroban Capital Partners LP raised its holdings in shares of Western Digital by 1,926.3% in the second quarter. Soroban Capital Partners LP now owns 3,061,134 shares of the data storage provider's stock valued at $195,882,000 after purchasing an additional 2,910,062 shares during the last quarter. Polar Capital Holdings Plc acquired a new stake in shares of Western Digital in the third quarter valued at approximately $221,800,000. Finally, National Pension Service raised its holdings in shares of Western Digital by 267.6% in the fourth quarter. National Pension Service now owns 1,691,659 shares of the data storage provider's stock valued at $291,422,000 after purchasing an additional 1,231,477 shares during the last quarter. Institutional investors own 92.51% of the company's stock.

More Western Digital News

Here are the key news stories impacting Western Digital this week:

• Positive Sentiment: Citi reportedly remains bullish on Western Digital, helping reinforce the view that analysts still see upside despite the recent pullback. Citi Remains Bullish on Western Digital Corporation (WDC) – Here’s Why
• Positive Sentiment: Recent commentary highlights strong AI-driven demand for memory and storage, with Mizuho raising targets on Western Digital and other memory names on expectations of a supply crunch through 2027. Memory Stocks Sandisk (SNDK), Seagate (STX), and Western Digital (WDC) Surge on AI-Driven Demand Forecast
• Positive Sentiment: Western Digital has also benefited from analyst optimism and recent price-target increases, including Wells Fargo and Citi, which suggests Wall Street remains constructive on fundamentals. Wells Fargo Raises Western Digital (WDC) Price Target by $75
• Neutral Sentiment: Western Digital has been trending heavily in investor searches, reflecting elevated attention and volatility rather than a clear new catalyst. Western Digital Corporation (WDC) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Memory and storage stocks, including Western Digital, are falling in tandem with Micron as macro uncertainty and a weaker risk backdrop hit the sector. Micron Sinks 6%, Western Digital Falls 5% but SanDisk Holds Steady
• Negative Sentiment: Quiver data also notes substantial insider selling over the past six months, which can weigh on sentiment even though it does not necessarily change near-term fundamentals. Western Digital Stock (WDC) Opinions on Strong Performance and Note Exchanges

Insider Activity

In related news, insider Cynthia L. Tregillis sold 432 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $545.60, for a total transaction of $235,699.20. Following the completion of the sale, the insider owned 116,643 shares of the company's stock, valued at $63,640,420.80. This represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce E. Kiddoo sold 750 shares of the business's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $528.52, for a total value of $396,390.00. Following the transaction, the director directly owned 3,903 shares of the company's stock, valued at approximately $2,062,813.56. The trade was a 16.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 29,322 shares of company stock worth $12,768,550. 0.18% of the stock is owned by company insiders.

Western Digital Stock Performance

Shares of Western Digital stock opened at $517.72 on Wednesday. The firm has a 50-day moving average of $431.98 and a 200-day moving average of $300.90. The stock has a market cap of $178.45 billion, a PE ratio of 30.91 and a beta of 2.13. Western Digital Corporation has a 52-week low of $54.60 and a 52-week high of $602.54.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.39 by $0.33. The company had revenue of $3.34 billion during the quarter, compared to analysts' expectations of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. Western Digital's quarterly revenue was up 45.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.36 earnings per share. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. Equities research analysts predict that Western Digital Corporation will post 9.57 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be given a dividend of $0.15 per share. This is a positive change from Western Digital's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, June 5th. Western Digital's dividend payout ratio (DPR) is currently 3.58%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WDC shares. Rosenblatt Securities lifted their price objective on shares of Western Digital from $340.00 to $500.00 and gave the company a "buy" rating in a report on Friday, May 1st. Sanford C. Bernstein upgraded shares of Western Digital from a "market perform" rating to an "outperform" rating and set a $340.00 price objective on the stock in a report on Tuesday, March 31st. Evercore reiterated an "outperform" rating and issued a $575.00 price objective on shares of Western Digital in a report on Tuesday, May 26th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $400.00 price objective on shares of Western Digital in a report on Friday, May 1st. Finally, Wells Fargo & Company lifted their price objective on shares of Western Digital from $500.00 to $575.00 and gave the company an "overweight" rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $433.29.

Western Digital Company Profile

Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.

Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.

Want to see what other hedge funds are holding WDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Digital Corporation (NASDAQ:WDC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.