Sunbelt Securities Inc. Buys 549 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Sunbelt Securities Inc. grew its position in Seagate Technology Holdings plc (NASDAQ:STX) by 269.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 753 shares of the data storage provider’s stock after purchasing an additional 549 shares during the quarter. Sunbelt Securities Inc.’s holdings in Seagate Technology were worth $70,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of STX. New York State Common Retirement Fund lifted its holdings in shares of Seagate Technology by 68.8% during the fourth quarter. New York State Common Retirement Fund now owns 143,049 shares of the data storage provider’s stock worth $12,212,000 after buying an additional 58,300 shares during the last quarter. JPMorgan Chase & Co. grew its position in Seagate Technology by 9.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock worth $1,166,022,000 after purchasing an additional 1,485,937 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of Seagate Technology by 8.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock worth $593,000 after purchasing an additional 561 shares during the period. Baader Bank Aktiengesellschaft acquired a new position in shares of Seagate Technology during the fourth quarter valued at about $230,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Seagate Technology by 1.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 136,111 shares of the data storage provider’s stock valued at $11,620,000 after buying an additional 1,419 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Down 0.8 %

Shares of NASDAQ:STX opened at $103.27 on Monday. Seagate Technology Holdings plc has a 12 month low of $57.32 and a 12 month high of $107.91. The firm has a market cap of $21.69 billion, a P/E ratio of -80.05 and a beta of 1.03. The company’s 50-day moving average price is $95.41 and its two-hundred day moving average price is $90.25.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the business earned ($0.43) EPS. The business’s revenue for the quarter was down 11.0% on a year-over-year basis. As a group, equities analysts predict that Seagate Technology Holdings plc will post 0.44 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a yield of 2.71%. Seagate Technology’s payout ratio is -217.05%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Cantor Fitzgerald lifted their price objective on Seagate Technology from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Citigroup started coverage on shares of Seagate Technology in a report on Tuesday, May 14th. They issued a “buy” rating and a $110.00 price target on the stock. Bank of America reaffirmed a “buy” rating and set a $110.00 price objective on shares of Seagate Technology in a report on Wednesday, June 5th. Benchmark reissued a “hold” rating on shares of Seagate Technology in a research note on Wednesday, April 24th. Finally, Morgan Stanley upgraded shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $73.00 to $115.00 in a research note on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Seagate Technology currently has an average rating of “Hold” and a consensus price target of $98.29.

Insiders Place Their Bets

In other Seagate Technology news, SVP John Christopher Morris sold 5,928 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $99.99, for a total value of $592,740.72. Following the transaction, the senior vice president now directly owns 12,185 shares of the company’s stock, valued at $1,218,378.15. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Seagate Technology news, SVP John Christopher Morris sold 5,928 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $99.99, for a total transaction of $592,740.72. Following the transaction, the senior vice president now owns 12,185 shares in the company, valued at $1,218,378.15. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Ban Seng Teh sold 10,742 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $100.00, for a total value of $1,074,200.00. Following the completion of the sale, the executive vice president now directly owns 5,042 shares of the company’s stock, valued at $504,200. The disclosure for this sale can be found here. In the last three months, insiders sold 37,531 shares of company stock valued at $3,592,946. 0.89% of the stock is currently owned by insiders.

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.