Whitaker Myers Wealth Managers LTD. Takes Position in Seagate Technology Holdings PLC $STX

Whitaker Myers Wealth Managers LTD. acquired a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,871 shares of the data storage provider’s stock, valued at approximately $914,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Vision Financial Markets LLC purchased a new position in Seagate Technology during the second quarter worth approximately $173,000. Nordea Investment Management AB increased its holdings in shares of Seagate Technology by 18.0% during the 2nd quarter. Nordea Investment Management AB now owns 18,422 shares of the data storage provider’s stock worth $2,632,000 after buying an additional 2,808 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd raised its position in shares of Seagate Technology by 185.8% in the 2nd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 18,734 shares of the data storage provider’s stock worth $2,704,000 after buying an additional 12,178 shares during the period. Retirement Planning Co of New England Inc. purchased a new position in shares of Seagate Technology in the 1st quarter worth $272,000. Finally, Channing Capital Management LLC acquired a new position in Seagate Technology in the second quarter valued at $4,542,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Seagate Technology

In other Seagate Technology news, Director Stephanie Tilenius sold 2,046 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $266.41, for a total transaction of $545,074.86. Following the completion of the sale, the director owned 12,244 shares in the company, valued at $3,261,924.04. This trade represents a 14.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ban Seng Teh sold 6,000 shares of Seagate Technology stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $270.00, for a total value of $1,620,000.00. Following the sale, the executive vice president owned 12,041 shares in the company, valued at $3,251,070. This represents a 33.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 132,555 shares of company stock valued at $36,030,007 in the last three months. 0.79% of the stock is currently owned by company insiders.

Seagate Technology Price Performance

Shares of STX stock opened at $285.22 on Friday. The company’s fifty day moving average price is $265.52 and its two-hundred day moving average price is $204.26. The firm has a market capitalization of $60.91 billion, a P/E ratio of 36.61, a P/E/G ratio of 1.12 and a beta of 1.59. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $308.93.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 24th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 1.0%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date is Wednesday, December 24th. Seagate Technology’s payout ratio is presently 38.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on STX shares. Barclays boosted their target price on Seagate Technology from $200.00 to $240.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. UBS Group decreased their price objective on shares of Seagate Technology from $235.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Cantor Fitzgerald raised their target price on shares of Seagate Technology from $280.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Wedbush upped their price target on shares of Seagate Technology from $260.00 to $290.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Finally, Morgan Stanley increased their price target on Seagate Technology from $270.00 to $337.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology has an average rating of “Moderate Buy” and a consensus target price of $293.13.

About Seagate Technology

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.