U.S. Capital Wealth Advisors LLC Sells 77,649 Shares of Seagate Technology Holdings PLC (NASDAQ:STX)

U.S. Capital Wealth Advisors LLC lessened its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 87.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 quarter.

Other hedge funds have also bought and sold shares of the company. Tidal Investments LLC increased its stake in Seagate Technology by 133.1% during the 4th quarter. Tidal Investments LLC now owns 12,681 shares of the data storage provider's stock worth $1,094,000 after acquiring an additional 7,240 shares during the period. Amalgamated Bank increased its position in shares of Seagate Technology by 0.8% in the first quarter. Amalgamated Bank now owns 29,964 shares of the data storage provider's stock worth $2,545,000 after purchasing an additional 243 shares during the period. Norges Bank bought a new position in shares of Seagate Technology in the fourth quarter worth $25,729,000. Vontobel Holding Ltd. lifted its position in Seagate Technology by 5.2% during the first quarter. Vontobel Holding Ltd. now owns 5,354 shares of the data storage provider's stock worth $450,000 after purchasing an additional 264 shares during the period. Finally, Golden State Wealth Management LLC grew its stake in Seagate Technology by 2,200.0% during the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock worth $39,000 after buying an additional 440 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Insider Transactions at Seagate Technology

In related news, CFO Gianluca Romano sold 26,816 shares of Seagate Technology stock in a transaction on Friday, May 30th. The shares were sold at an average price of $117.58, for a total value of $3,153,025.28. Following the completion of the sale, the chief financial officer owned 38,082 shares of the company's stock, valued at approximately $4,477,681.56. This trade represents a 41.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael R. Cannon sold 24,190 shares of Seagate Technology stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $119.00, for a total transaction of $2,878,610.00. Following the transaction, the director directly owned 10,835 shares in the company, valued at approximately $1,289,365. This represents a 69.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 393,791 shares of company stock worth $47,582,998 in the last three months. Insiders own 0.81% of the company's stock.

Seagate Technology Stock Performance

Shares of Seagate Technology stock traded up $2.49 on Thursday, hitting $144.50. The stock had a trading volume of 5,593,356 shares, compared to its average volume of 3,234,231. The firm has a market capitalization of $30.67 billion, a P/E ratio of 20.88 and a beta of 1.45. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $152.16. The stock has a 50 day moving average of $122.98 and a 200 day moving average of $100.86.

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

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

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th were issued a dividend of $0.72 per share. The ex-dividend date was Wednesday, June 25th. This represents a $2.88 annualized dividend and a dividend yield of 1.99%. Seagate Technology's dividend payout ratio is currently 41.62%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $130.00 price objective on shares of Seagate Technology in a research note on Friday, May 23rd. Cantor Fitzgerald increased their price target on shares of Seagate Technology from $110.00 to $125.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. Citigroup increased their price target on shares of Seagate Technology from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Morgan Stanley increased their price target on shares of Seagate Technology from $99.00 to $140.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Finally, Barclays increased their price target on shares of 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 equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $123.16.

About Seagate Technology

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.