Salvus Wealth Management LLC Sells 451 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Salvus Wealth Management LLC decreased its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 15.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,542 shares of the data storage provider’s stock after selling 451 shares during the period. Salvus Wealth Management LLC’s holdings in Seagate Technology were worth $219,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its position in shares of Seagate Technology by 3.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock worth $281,000 after purchasing an additional 89 shares in the last quarter. Affinity Capital Advisors LLC raised its stake in Seagate Technology by 1.5% during the 3rd quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock worth $725,000 after buying an additional 100 shares during the period. AdvisorNet Financial Inc boosted its holdings in Seagate Technology by 3.7% in the fourth quarter. AdvisorNet Financial Inc now owns 3,377 shares of the data storage provider’s stock worth $291,000 after acquiring an additional 122 shares in the last quarter. Ballentine Partners LLC grew its stake in Seagate Technology by 3.6% in the third quarter. Ballentine Partners LLC now owns 3,671 shares of the data storage provider’s stock valued at $402,000 after acquiring an additional 129 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its holdings in shares of Seagate Technology by 0.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 28,646 shares of the data storage provider’s stock valued at $2,958,000 after acquiring an additional 183 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Transactions at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the sale, the director now owns 6,555 shares of the company’s stock, valued at approximately $667,430.10. This trade represents a 10.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John Christopher Morris sold 1,131 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total value of $126,558.90. Following the completion of the transaction, the senior vice president now owns 7,191 shares in the company, valued at $804,672.90. This represents a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,304 shares of company stock worth $5,656,238 over the last quarter. Corporate insiders own 0.81% of the company’s stock.

Seagate Technology Stock Performance

STX opened at $95.07 on Friday. The firm has a market cap of $20.11 billion, a P/E ratio of 24.82 and a beta of 1.06. Seagate Technology Holdings plc has a fifty-two week low of $82.31 and a fifty-two week high of $115.32. The firm has a 50-day moving average of $94.55 and a 200 day moving average of $100.37.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the business earned ($0.34) earnings per share. Seagate Technology’s revenue for the quarter was up 49.1% on a year-over-year basis. Equities research analysts predict that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Sunday, December 15th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Friday, December 13th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio (DPR) is currently 75.20%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a research report on Wednesday, October 23rd. Wells Fargo & Company reduced their price objective on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating for the company in a report on Thursday. Mizuho lowered their target price on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Finally, Evercore ISI increased their price objective on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $120.94.

Seagate Technology Company 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.