Alliancebernstein L.P. Sells 145,948 Shares of Western Digital Co. (NASDAQ:WDC)

Alliancebernstein L.P. lessened its stake in shares of Western Digital Co. (NASDAQ:WDC) by 4.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,293,602 shares of the data storage provider’s stock after selling 145,948 shares during the period. Alliancebernstein L.P. owned about 0.95% of Western Digital worth $196,397,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Edmond DE Rothschild Holding S.A. raised its position in shares of Western Digital by 9.7% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 73,048 shares of the data storage provider’s stock valued at $4,356,000 after purchasing an additional 6,470 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in shares of Western Digital by 3.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 24,691 shares of the data storage provider’s stock worth $1,472,000 after buying an additional 914 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Western Digital by 19.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,385 shares of the data storage provider’s stock valued at $89,000 after acquiring an additional 229 shares during the period. California Public Employees Retirement System grew its stake in shares of Western Digital by 20.4% in the fourth quarter. California Public Employees Retirement System now owns 515,793 shares of the data storage provider’s stock valued at $30,757,000 after acquiring an additional 87,281 shares in the last quarter. Finally, Allstate Corp bought a new position in shares of Western Digital during the fourth quarter worth approximately $611,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital Price Performance

WDC stock opened at $40.89 on Wednesday. The company’s 50-day moving average is $54.67 and its 200-day moving average is $62.08. Western Digital Co. has a 1 year low of $39.10 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. The stock has a market capitalization of $14.22 billion, a PE ratio of 9.74 and a beta of 1.42.

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

Insider Activity

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the sale, the senior vice president now owns 43,776 shares in the company, valued at approximately $1,810,575.36. This trade represents a 3.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on WDC shares. The Goldman Sachs Group raised their price target on Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Bank of America cut their target price on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Cantor Fitzgerald lowered their price target on shares of Western Digital from $95.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Wells Fargo & Company dropped their price objective on shares of Western Digital from $85.00 to $75.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Finally, StockNews.com lowered shares of Western Digital from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.21.

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.