Foster & Motley Inc. Trims Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Foster & Motley Inc. trimmed its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 11.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,251 shares of the data storage provider’s stock after selling 571 shares during the period. Foster & Motley Inc.’s holdings in Seagate Technology were worth $367,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in Seagate Technology during the third quarter worth $26,000. Quarry LP purchased a new stake in Seagate Technology during the 2nd quarter worth about $27,000. Advisors Asset Management Inc. raised its stake in Seagate Technology by 177.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after purchasing an additional 258 shares during the last quarter. JFS Wealth Advisors LLC lifted its holdings in Seagate Technology by 232.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock valued at $46,000 after purchasing an additional 293 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Seagate Technology during the 3rd quarter worth about $53,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on STX shares. Rosenblatt Securities raised their target price on shares of Seagate Technology from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group lowered their price objective on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Bank of America increased their target price on Seagate Technology from $124.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $120.00 price objective on shares of Seagate Technology in a research note on Wednesday, January 22nd. Finally, Citigroup raised their target price on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and a consensus target price of $122.56.

Seagate Technology Stock Performance

STX stock opened at $96.36 on Friday. The stock has a 50-day simple moving average of $95.10 and a 200-day simple moving average of $100.17. The firm has a market cap of $20.40 billion, a P/E ratio of 17.62 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.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.99%. Seagate Technology’s payout ratio is currently 52.65%.

Insider Activity

In other Seagate Technology news, SVP Kian Fatt Chong sold 9,182 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $105.50, for a total value of $968,701.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 6,555 shares of the company’s stock, valued at $667,430.10. The trade was a 10.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,073 shares of company stock worth $3,115,549. 0.81% of the stock is currently owned by company 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.