Pinnacle Wealth Management Advisory Group LLC Acquires Shares of 2,675 Western Digital Corporation $WDC

Pinnacle Wealth Management Advisory Group LLC acquired a new stake in Western Digital Corporation (NASDAQ:WDC - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,675 shares of the data storage provider's stock, valued at approximately $461,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC grew its holdings in Western Digital by 124.5% in the 3rd quarter. ORG Partners LLC now owns 211 shares of the data storage provider's stock valued at $25,000 after buying an additional 117 shares in the last quarter. Rakuten Securities Inc. grew its holdings in Western Digital by 4,070.0% in the 2nd quarter. Rakuten Securities Inc. now owns 417 shares of the data storage provider's stock valued at $27,000 after buying an additional 407 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in Western Digital by 551.4% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 241 shares of the data storage provider's stock valued at $29,000 after buying an additional 204 shares in the last quarter. Westfuller Advisors LLC acquired a new position in Western Digital in the 3rd quarter valued at $30,000. Finally, Avion Wealth grew its holdings in Western Digital by 163.8% in the 4th quarter. Avion Wealth now owns 182 shares of the data storage provider's stock valued at $31,000 after buying an additional 113 shares in the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital Stock Performance

WDC opened at $465.26 on Wednesday. The firm has a market cap of $160.37 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 0.91 and a beta of 2.10. Western Digital Corporation has a 52-week low of $43.60 and a 52-week high of $480.11. The business's fifty day moving average is $317.92 and its 200-day moving average is $237.27.

Western Digital (NASDAQ:WDC - Get Free Report) last released its earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.33. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same period in the prior year, the firm posted $1.36 EPS. Western Digital's quarterly revenue was up 45.5% on a year-over-year basis. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, research analysts predict that Western Digital Corporation will post 8.68 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The firm 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. The ex-dividend date is Friday, June 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is an increase from Western Digital's previous quarterly dividend of $0.13. Western Digital's dividend payout ratio is currently 2.99%.

Insider Buying and Selling

In related news, CEO Irving Tan sold 20,000 shares of the company's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $411.84, for a total transaction of $8,236,800.00. Following the completion of the sale, the chief executive officer directly owned 598,150 shares in the company, valued at $246,342,096. This represents a 3.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vidyadhara K. Gubbi sold 4,674 shares of the company's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $443.19, for a total value of $2,071,470.06. Following the sale, the insider owned 90,041 shares of the company's stock, valued at approximately $39,905,270.79. This represents a 4.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 97,385 shares of company stock worth $29,499,874 in the last ninety days. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

WDC has been the topic of a number of research reports. Cantor Fitzgerald upped their price objective on Western Digital to $660.00 and gave the company an "overweight" rating in a report on Friday. Argus set a $300.00 price objective on Western Digital in a report on Tuesday, February 3rd. Evercore reissued an "outperform" rating and set a $500.00 target price on shares of Western Digital in a report on Friday. Rosenblatt Securities increased their target price on Western Digital from $340.00 to $500.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Finally, Susquehanna reissued a "neutral" rating and set a $285.00 target price on shares of Western Digital in a report on Friday, February 6th. Nineteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $395.83.

Key Headlines Impacting Western Digital

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

• Positive Sentiment: Q3 beat and upbeat guidance — WDC reported a Q3 EPS beat and raised its Q4 FY2026 EPS range, showing strong margin expansion and accelerating revenue tied to AI/data-center demand. Western Digital Stock Surges After Q3 Beat
• Positive Sentiment: Analyst bullishness & higher price targets — Multiple outlets and analysts have lifted targets (including big calls toward the $500+ area), reinforcing momentum and giving investors upside conviction. AI Boom Drives Western Digital Toward $500 Target
• Positive Sentiment: Dividend hike & valuation narratives — Coverage highlights a 20% dividend increase and improved valuation metrics tied to AI storage demand, attracting income and growth investors. Western Digital Valuation Check
• Positive Sentiment: Sector tailwind from SanDisk’s breakout — SanDisk (spun off from WDC) has surged, underscoring strong demand for memory/storage in AI data centers and supporting bullish sentiment across storage peers. SanDisk Spun Off From Western Digital
• Neutral Sentiment: Investor events & conference appearance — WDC presented at Barclays’ conference (transcript available), which helps transparency and investor outreach but is informational rather than catalytic. Barclays Conference Transcript
• Neutral Sentiment: Media coverage & screening interest — Multiple “is it a buy?” and trending-stock writeups (Zacks, Yahoo) are increasing visibility but don’t by themselves change fundamentals. Is Wall Street Bullish or Bearish on WDC?
• Negative Sentiment: Insider selling — CEO Irving Tan sold 20,000 shares under a pre-arranged Rule 10b5-1 plan (filing available); while planned sales are common and he retains a large stake, markets often view insider selling as a modest negative signal. Irving Tan SEC Filing
• Negative Sentiment: Additional insider sale — Insider Vidyadhara K. Gubbi sold 4,674 shares; another small reduction in insider holdings that may be noted by investors. V. Gubbi SEC Filing

Western Digital 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.

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