Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC reduced its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 94.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,759 shares of the data storage provider's stock after selling 108,596 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Seagate Technology were worth $583,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in STX. Wilmington Savings Fund Society FSB purchased a new position in Seagate Technology during the 3rd quarter worth approximately $54,000. JFS Wealth Advisors LLC boosted its stake in Seagate Technology by 27.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock worth $46,000 after purchasing an additional 113 shares during the period. Human Investing LLC purchased a new position in Seagate Technology during the 4th quarter worth $48,000. Mizuho Bank Ltd. increased its stake in Seagate Technology by 140.0% in the fourth quarter. Mizuho Bank Ltd. now owns 600 shares of the data storage provider's stock valued at $52,000 after purchasing an additional 350 shares during the period. Finally, S.A. Mason LLC acquired a new stake in shares of Seagate Technology during the fourth quarter worth about $55,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology Stock Up 0.7 %

Shares of Seagate Technology stock traded up $0.68 during trading on Wednesday, hitting $94.58. 553,219 shares of the company were exchanged, compared to its average volume of 2,846,535. Seagate Technology Holdings plc has a fifty-two week low of $63.19 and a fifty-two week high of $115.32. The firm has a 50 day moving average price of $82.99 and a 200 day moving average price of $92.56. The stock has a market capitalization of $20.02 billion, a price-to-earnings ratio of 17.35 and a beta of 1.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data 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. The business 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 63.48% and a net margin of 14.67%. The business's revenue was up 30.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 earnings per share. Analysts predict that Seagate Technology Holdings plc will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.05%. Seagate Technology's dividend payout ratio (DPR) is presently 41.62%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. StockNews.com cut Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Barclays upped their price target on Seagate Technology from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Rosenblatt Securities reiterated a "buy" rating and issued a $130.00 price objective on shares of Seagate Technology in a research report on Wednesday, April 30th. Wells Fargo & Company cut their price objective on shares of Seagate Technology from $120.00 to $105.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. Finally, UBS Group lifted their target price on shares of Seagate Technology from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $114.89.

Insider Activity

In other news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total value of $1,691,200.00. Following the completion of the sale, the chief executive officer now owns 555,677 shares of the company's stock, valued at $46,988,047.12. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.81% of the company's stock.

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.