Beta Wealth Group Inc. Has $495,000 Stock Holdings in Western Digital Co. (NASDAQ:WDC)

Beta Wealth Group Inc. increased its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 2.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,300 shares of the data storage provider’s stock after purchasing an additional 200 shares during the period. Beta Wealth Group Inc.’s holdings in Western Digital were worth $495,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. raised its stake in Western Digital by 5.4% during the third quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider’s stock worth $200,000 after acquiring an additional 149 shares in the last quarter. Mather Group LLC. boosted its position in shares of Western Digital by 7.0% in the 4th quarter. Mather Group LLC. now owns 2,416 shares of the data storage provider’s stock worth $144,000 after purchasing an additional 159 shares during the last quarter. Vontobel Holding Ltd. increased its stake in shares of Western Digital by 1.4% in the 4th quarter. Vontobel Holding Ltd. now owns 11,804 shares of the data storage provider’s stock valued at $704,000 after acquiring an additional 164 shares during the last quarter. Quarry LP boosted its position in shares of Western Digital by 22.6% during the third quarter. Quarry LP now owns 932 shares of the data storage provider’s stock worth $64,000 after purchasing an additional 172 shares in the last quarter. Finally, Inspire Investing LLC grew its stake in Western Digital by 4.3% in the fourth quarter. Inspire Investing LLC now owns 4,324 shares of the data storage provider’s stock valued at $258,000 after acquiring an additional 177 shares during the period. 92.51% of the stock is owned by institutional investors.

Western Digital Stock Performance

Western Digital stock opened at $68.39 on Tuesday. The business has a 50 day moving average of $64.50 and a 200-day moving average of $65.27. The company has a market capitalization of $23.79 billion, a P/E ratio of 16.28 and a beta of 1.44. Western Digital Co. has a 1 year low of $52.77 and a 1 year high of $81.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. On average, equities research analysts predict that Western Digital Co. will post 4.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Gene M. Zamiska sold 658 shares of Western Digital stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total transaction of $46,053.42. Following the completion of the transaction, the senior vice president now owns 28,863 shares of the company’s stock, valued at $2,020,121.37. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 1,347 shares of company stock valued at $93,027. 0.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Morgan Stanley dropped their price objective on shares of Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. UBS Group upped their target price on shares of Western Digital from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Wells Fargo & Company decreased their price objective on shares of Western Digital from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. The Goldman Sachs Group lifted their price target on Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Citigroup decreased their target price on shares of Western Digital from $82.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.42.

About Western Digital

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.