Keudell Morrison Wealth Management Invests $200,000 in Seagate Technology Holdings plc (NASDAQ:STX)

Keudell Morrison Wealth Management acquired a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,827 shares of the data storage provider’s stock, valued at approximately $200,000.

A number of other institutional investors and hedge funds have also bought and sold shares of STX. Bessemer Group Inc. raised its position in Seagate Technology by 68.7% in the 1st quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock worth $1,634,000 after buying an additional 7,150 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Seagate Technology by 2.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock valued at $24,011,000 after buying an additional 6,044 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Seagate Technology by 21.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 232,957 shares of the data storage provider’s stock worth $21,677,000 after purchasing an additional 40,649 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of Seagate Technology by 15.7% in the first quarter. Illinois Municipal Retirement Fund now owns 60,702 shares of the data storage provider’s stock worth $5,648,000 after buying an additional 8,242 shares during the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new position in shares of Seagate Technology during the 2nd quarter worth $499,000. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Price Performance

Seagate Technology stock opened at $105.11 on Friday. Seagate Technology Holdings plc has a 1-year low of $70.41 and a 1-year high of $115.32. The firm has a market capitalization of $22.23 billion, a P/E ratio of 27.44 and a beta of 1.05. The company’s 50-day moving average is $104.95 and its 200 day moving average is $100.67.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the business posted ($0.34) earnings per share. The business’s revenue for the quarter was up 49.1% on a year-over-year basis. Research analysts anticipate that Seagate Technology Holdings plc will post 7.35 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be paid a dividend of $0.72 per share. The ex-dividend date is Friday, December 13th. This represents a $2.88 annualized dividend and a dividend yield of 2.74%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio (DPR) is currently 73.11%.

Insider Activity at Seagate Technology

In other news, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.18, for a total value of $15,621,871.30. Following the completion of the sale, the chief executive officer now owns 668,616 shares in the company, valued at approximately $73,668,110.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the completion of the transaction, the chief executive officer now directly owns 668,616 shares of the company’s stock, valued at approximately $73,668,110.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the sale, the director now owns 3,034 shares of the company’s stock, valued at $291,567.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 192,638 shares of company stock worth $20,924,155 over the last three months. 0.81% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on STX shares. Robert W. Baird lifted their price target on shares of Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Wells Fargo & Company raised their price objective on shares of Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Citigroup upped their target price on shares of Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Cantor Fitzgerald reissued a “neutral” rating and set a $125.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, Northland Securities upped their price objective on Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $118.83.

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.