U.S. Capital Wealth Advisors LLC Has $919,000 Position in Seagate Technology Holdings PLC (NASDAQ:STX)

U.S. Capital Wealth Advisors LLC lessened its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 87.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,818 shares of the data storage provider's stock after selling 77,649 shares during the period. U.S. Capital Wealth Advisors LLC's holdings in Seagate Technology were worth $919,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Ameriflex Group Inc. purchased a new stake in shares of Seagate Technology during the 4th quarter worth about $26,000. Elequin Capital LP purchased a new stake in shares of Seagate Technology during the 4th quarter worth about $27,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Seagate Technology during the 4th quarter worth about $27,000. Wayfinding Financial LLC purchased a new stake in shares of Seagate Technology during the 1st quarter worth about $31,000. Finally, Golden State Wealth Management LLC raised its stake in shares of Seagate Technology by 2,200.0% during the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock worth $39,000 after purchasing an additional 440 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

Wall Street Analyst Weigh In

STX has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Seagate Technology from $105.00 to $122.00 and gave the company an "equal weight" rating in a research note on Friday, May 23rd. Citigroup lifted their price target on Seagate Technology from $140.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday. Wedbush reaffirmed an "outperform" rating and issued a $140.00 price target on shares of Seagate Technology in a research report on Wednesday, May 21st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $130.00 price target on shares of Seagate Technology in a research report on Friday, May 23rd. Finally, Barclays lifted their price target on Seagate Technology from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $125.53.

Seagate Technology Price Performance

Shares of STX stock traded up $2.68 during trading hours on Friday, hitting $147.18. 2,868,540 shares of the company's stock were exchanged, compared to its average volume of 3,248,448. The stock's 50-day moving average is $124.06 and its 200-day moving average is $101.44. The stock has a market cap of $31.23 billion, a price-to-earnings ratio of 21.27 and a beta of 1.45. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $152.16.

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

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Wednesday, June 25th. Seagate Technology's dividend payout ratio (DPR) is presently 41.62%.

Seagate Technology announced that its board has approved a share buyback program on Thursday, May 22nd that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the data storage provider to reacquire up to 21.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 70,000 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $109.47, for a total value of $7,662,900.00. Following the transaction, the chief executive officer owned 485,677 shares of the company's stock, valued at approximately $53,167,061.19. This represents a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ban Seng Teh sold 63,418 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $125.00, for a total value of $7,927,250.00. Following the completion of the transaction, the executive vice president directly owned 14,658 shares in the company, valued at $1,832,250. The trade was a 81.23% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 393,791 shares of company stock worth $47,582,998. 0.81% of the stock is owned by insiders.

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.