Pines Wealth Management LLC Makes New Investment in Western Digital Corporation $WDC

Key Points

• Pines Wealth Management LLC acquired a new stake in **Western Digital Corporation** during the 2nd quarter, purchasing 3,898 shares valued at approximately **$258,000**.
• Western Digital recently announced a quarterly **dividend of $0.10 per share**, translating to an annualized yield of **0.4%**.
• Several analysts upgraded their price targets for Western Digital, with **Benchmark** raising its target from **$85.00 to $115.00** and **Bank of America** increasing theirs from **$100.00 to $123.00**, reflecting a generally positive outlook on the stock.

Pines Wealth Management LLC bought a new position in Western Digital Corporation (NASDAQ:WDC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,898 shares of the data storage provider's stock, valued at approximately $258,000.

Several other hedge funds and other institutional investors have also bought and sold shares of WDC. Allworth Financial LP boosted its holdings in shares of Western Digital by 34.1% in the 1st quarter. Allworth Financial LP now owns 955 shares of the data storage provider's stock worth $38,000 after buying an additional 243 shares during the last quarter. Truvestments Capital LLC boosted its stake in Western Digital by 11.7% in the first quarter. Truvestments Capital LLC now owns 2,483 shares of the data storage provider's stock valued at $100,000 after acquiring an additional 261 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Western Digital by 4.5% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,080 shares of the data storage provider's stock valued at $246,000 after acquiring an additional 263 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Western Digital by 0.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,395 shares of the data storage provider's stock worth $1,835,000 after purchasing an additional 264 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of Western Digital by 17.0% in the 1st quarter. Advisors Asset Management Inc. now owns 2,059 shares of the data storage provider's stock worth $83,000 after purchasing an additional 299 shares during the period. Hedge funds and other institutional investors own 92.51% of the company's stock.

Insider Buying and Selling

In related news, insider Vidyadhara K. Gubbi sold 11,343 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $90.29, for a total transaction of $1,024,159.47. Following the completion of the sale, the insider directly owned 151,596 shares in the company, valued at $13,687,602.84. This represents a 6.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Gene M. Zamiska sold 353 shares of Western Digital stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $80.90, for a total value of $28,557.70. Following the completion of the transaction, the senior vice president directly owned 27,425 shares in the company, valued at $2,218,682.50. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,730 shares of company stock worth $3,921,594. Insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on WDC shares. The Goldman Sachs Group assumed coverage on Western Digital in a research report on Thursday, July 10th. They issued a "neutral" rating and a $70.00 target price for the company. Zacks Research lowered Western Digital from a "strong-buy" rating to a "hold" rating in a report on Friday, September 12th. UBS Group upped their price objective 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. Bank of America lifted their target price on shares of Western Digital from $100.00 to $123.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Finally, Citigroup raised their price objective on shares of Western Digital from $88.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Western Digital currently has an average rating of "Moderate Buy" and a consensus target price of $88.68.

Western Digital Price Performance

Shares of WDC traded up $1.48 during midday trading on Friday, reaching $106.63. The stock had a trading volume of 11,026,533 shares, compared to its average volume of 8,291,884. The company has a market capitalization of $37.20 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 1.19 and a beta of 1.69. 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 Corporation has a 12-month low of $28.83 and a 12-month high of $107.18. The company's 50-day moving average is $80.13 and its 200 day moving average is $59.13.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The data storage provider reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.18. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. Western Digital had a return on equity of 24.93% and a net margin of 14.13%.Western Digital's revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.44 earnings per share. Western Digital has set its Q1 2026 guidance at 1.540-1.690 EPS. On average, equities analysts predict that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Announces Dividend

The business also recently disclosed 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 was Thursday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. Western Digital's payout ratio is currently 7.77%.

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.