HighTower Advisors LLC Cuts Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

HighTower Advisors LLC decreased its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 70.2% in the fourth quarter, HoldingsChannel reports. The firm owned 85,220 shares of the data storage provider’s stock after selling 200,390 shares during the quarter. HighTower Advisors LLC’s holdings in Seagate Technology were worth $7,355,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in STX. Victory Capital Management Inc. lifted its holdings in shares of Seagate Technology by 133.8% in the 3rd quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock valued at $18,834,000 after acquiring an additional 98,418 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Seagate Technology by 9.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,834 shares of the data storage provider’s stock valued at $4,215,000 after acquiring an additional 4,229 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Seagate Technology by 341.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider’s stock valued at $143,370,000 after acquiring an additional 1,012,638 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in shares of Seagate Technology by 87.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,578 shares of the data storage provider’s stock valued at $740,000 after acquiring an additional 4,014 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Seagate Technology by 9.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 84,222 shares of the data storage provider’s stock valued at $7,360,000 after acquiring an additional 7,599 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Down 2.1 %

Seagate Technology stock opened at $88.64 on Wednesday. The business has a fifty day moving average of $96.33 and a two-hundred day moving average of $98.99. The firm has a market cap of $18.77 billion, a P/E ratio of 16.20 and a beta of 1.01. Seagate Technology Holdings plc has a twelve month low of $82.31 and a twelve month high of $115.32.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a yield of 3.25%. Seagate Technology’s dividend payout ratio is currently 52.65%.

Analysts Set New Price Targets

STX has been the subject of a number of analyst reports. Summit Insights raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Barclays boosted their target price on Seagate Technology from $95.00 to $105.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 22nd. StockNews.com lowered Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Morgan Stanley dropped their target price on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Finally, Citigroup dropped their target price on Seagate Technology from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus price target of $121.00.

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.