Vontobel Holding Ltd. Raises Position in Seagate Technology Holdings plc (NASDAQ:STX)

Vontobel Holding Ltd. increased its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 61.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,090 shares of the data storage provider’s stock after buying an additional 1,942 shares during the period. Vontobel Holding Ltd.’s holdings in Seagate Technology were worth $439,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in STX. Point72 Asset Management L.P. bought a new position in Seagate Technology in the third quarter valued at $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Seagate Technology by 341.7% in the third 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. State Street Corp increased its stake in Seagate Technology by 6.8% in the third quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock valued at $937,081,000 after acquiring an additional 541,585 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Seagate Technology by 29.5% during the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock valued at $197,844,000 after buying an additional 405,232 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Seagate Technology by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock valued at $454,477,000 after buying an additional 318,416 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Benchmark raised Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Wednesday, January 22nd. Rosenblatt Securities raised their price objective on Seagate Technology from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company reduced their price objective on Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Bank of America increased their target price on shares of Seagate Technology from $124.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Morgan Stanley dropped their target price on shares of Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $122.56.

Seagate Technology Trading Down 0.3 %

Shares of Seagate Technology stock opened at $102.64 on Friday. The company has a fifty day simple moving average of $94.92 and a 200-day simple moving average of $99.74. Seagate Technology Holdings plc has a 12-month low of $82.31 and a 12-month high of $115.32. The stock has a market cap of $21.73 billion, a price-to-earnings ratio of 18.76 and a beta of 1.07.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s payout ratio is 52.65%.

Insider Activity

In related news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the sale, the director now owns 6,555 shares in the company, valued at $667,430.10. This represents a 10.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $102.83, for a total transaction of $2,056,600.00. Following the sale, the chief executive officer now owns 622,497 shares of the company’s stock, valued at approximately $64,011,366.51. This represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,891 shares of company stock worth $2,146,848. Corporate insiders own 0.81% of the company’s stock.

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.