AE Wealth Management LLC Buys 18,129 Shares of Seagate Technology Holdings PLC (NASDAQ:STX)

AE Wealth Management LLC increased its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 18.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 117,082 shares of the data storage provider's stock after purchasing an additional 18,129 shares during the period. AE Wealth Management LLC owned about 0.06% of Seagate Technology worth $9,946,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Seagate Technology by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock worth $2,414,446,000 after purchasing an additional 1,814,821 shares during the period. Sanders Capital LLC boosted its stake in shares of Seagate Technology by 1.0% during the 4th quarter. Sanders Capital LLC now owns 16,530,152 shares of the data storage provider's stock valued at $1,426,717,000 after buying an additional 162,561 shares during the period. Capital Research Global Investors boosted its stake in shares of Seagate Technology by 56.5% during the 4th quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider's stock valued at $1,348,262,000 after buying an additional 5,640,443 shares during the period. Geode Capital Management LLC boosted its stake in shares of Seagate Technology by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 4,295,225 shares of the data storage provider's stock valued at $370,013,000 after buying an additional 132,713 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Seagate Technology by 14.6% during the 4th quarter. Invesco Ltd. now owns 2,761,534 shares of the data storage provider's stock valued at $238,348,000 after buying an additional 352,300 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Insider Activity at Seagate Technology

In other news, CEO William D. Mosley sold 70,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $109.47, for a total transaction of $7,662,900.00. Following the transaction, the chief executive officer directly owned 485,677 shares in the company, valued at approximately $53,167,061.19. This represents a 12.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gianluca Romano sold 26,816 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $117.58, for a total transaction of $3,153,025.28. Following the completion of the transaction, the chief financial officer owned 38,082 shares in the company, valued at $4,477,681.56. This represents a 41.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 395,516 shares of company stock valued at $47,831,398 over the last ninety days. Company insiders own 0.81% of the company's stock.

Seagate Technology Price Performance

Shares of Seagate Technology stock traded down $1.84 during trading on Friday, hitting $150.89. 3,125,852 shares of the company's stock traded hands, compared to its average volume of 3,954,588. The firm's fifty day moving average price is $133.01 and its 200 day moving average price is $105.09. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $153.88. The company has a market cap of $32.02 billion, a PE ratio of 21.80 and a beta of 1.45.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.15. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Seagate Technology had a net margin of 17.49% and a negative return on equity of 105.02%. The firm's revenue was up 30.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 EPS. As a group, equities research analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology announced that its Board of Directors has approved a stock buyback plan on Thursday, May 22nd that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the data storage provider to reacquire up to 21.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th were given a $0.72 dividend. The ex-dividend date of this dividend was Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a yield of 1.91%. Seagate Technology's dividend payout ratio (DPR) is presently 41.62%.

Analyst Upgrades and Downgrades

STX has been the subject of a number of research reports. Mizuho decreased their target price on shares of Seagate Technology from $115.00 to $95.00 and set an "outperform" rating for the company in a research note on Thursday, April 10th. Bank of America lifted their target price on shares of Seagate Technology from $145.00 to $165.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Morgan Stanley lifted their target price on shares of Seagate Technology from $140.00 to $167.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Wedbush restated an "outperform" rating and set a $140.00 price target on shares of Seagate Technology in a report on Wednesday, May 21st. Finally, BNP Paribas upgraded shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Seagate Technology currently has a consensus rating of "Moderate Buy" and an average price target of $134.38.

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.