HB Wealth Management LLC Decreases Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

HB Wealth Management LLC reduced its position in Seagate Technology Holdings plc (NASDAQ:STX) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,502 shares of the data storage provider’s stock after selling 165 shares during the period. HB Wealth Management LLC’s holdings in Seagate Technology were worth $302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of STX. Wealthcare Advisory Partners LLC grew its stake in shares of Seagate Technology by 2.8% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 5,287 shares of the data storage provider’s stock valued at $456,000 after purchasing an additional 142 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in Seagate Technology by 26.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 21,132 shares of the data storage provider’s stock valued at $1,824,000 after buying an additional 4,460 shares during the period. Contravisory Investment Management Inc. increased its holdings in Seagate Technology by 2.6% during the fourth quarter. Contravisory Investment Management Inc. now owns 7,720 shares of the data storage provider’s stock valued at $666,000 after buying an additional 192 shares during the last quarter. Park Avenue Securities LLC raised its position in Seagate Technology by 5.9% in the fourth quarter. Park Avenue Securities LLC now owns 6,012 shares of the data storage provider’s stock worth $519,000 after acquiring an additional 333 shares during the period. Finally, Tealwood Asset Management Inc. boosted its stake in shares of Seagate Technology by 0.7% during the 4th quarter. Tealwood Asset Management Inc. now owns 28,620 shares of the data storage provider’s stock worth $2,470,000 after acquiring an additional 198 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on STX shares. Evercore ISI raised their target price on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. UBS Group raised their target price on shares of Seagate Technology from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday. Bank of America increased their price objective on shares of Seagate Technology from $124.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday. Benchmark raised Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Wednesday. Finally, Summit Insights raised Seagate Technology from a “hold” rating to a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.56.

Insider Activity at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.53, for a total value of $1,990,600.00. Following the transaction, the chief executive officer now owns 642,497 shares of the company’s stock, valued at $63,947,726.41. This represents a 3.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total value of $76,365.00. Following the completion of the sale, the director now owns 6,555 shares in the company, valued at approximately $667,430.10. The trade was a 10.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,073 shares of company stock worth $5,106,149. Insiders own 0.81% of the company’s stock.

Seagate Technology Price Performance

Shares of STX stock opened at $108.42 on Friday. The company has a market cap of $22.93 billion, a PE ratio of 19.82 and a beta of 1.06. Seagate Technology Holdings plc has a 1 year low of $82.31 and a 1 year high of $115.32. The stock’s 50 day simple moving average is $94.55 and its two-hundred day simple moving average is $100.33.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a negative return on equity of 58.59% and a net margin of 14.67%. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the company earned ($0.34) earnings per share. Seagate Technology’s revenue was up 49.1% on a year-over-year basis. Equities research analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be paid a dividend of $0.72 per share. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.66%. Seagate Technology’s dividend payout ratio is presently 52.65%.

Seagate Technology Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.