AE Wealth Management LLC Sells 121,527 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

AE Wealth Management LLC lessened its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 54.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,984 shares of the data storage provider’s stock after selling 121,527 shares during the quarter. AE Wealth Management LLC’s holdings in Seagate Technology were worth $10,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of STX. Capital Research Global Investors raised its position in shares of Seagate Technology by 39.3% in the 4th quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock worth $1,418,413,000 after purchasing an additional 4,685,454 shares during the last quarter. Vanguard Group Inc. raised its position in Seagate Technology by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock worth $2,303,274,000 after buying an additional 746,395 shares during the last quarter. Wells Fargo & Company MN raised its position in Seagate Technology by 83.2% in the 4th quarter. Wells Fargo & Company MN now owns 1,014,075 shares of the data storage provider’s stock worth $86,572,000 after buying an additional 460,599 shares during the last quarter. Sanders Capital LLC raised its position in Seagate Technology by 3.0% in the 4th quarter. Sanders Capital LLC now owns 15,486,153 shares of the data storage provider’s stock worth $1,322,053,000 after buying an additional 443,768 shares during the last quarter. Finally, Putnam Investments LLC raised its position in Seagate Technology by 124.3% in the 4th quarter. Putnam Investments LLC now owns 680,456 shares of the data storage provider’s stock worth $58,091,000 after buying an additional 377,148 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

NASDAQ STX opened at $104.74 on Friday. The company has a market capitalization of $22.05 billion, a P/E ratio of -81.19 and a beta of 1.03. Seagate Technology Holdings plc has a one year low of $63.32 and a one year high of $113.57. The stock has a 50 day moving average price of $101.15 and a 200-day moving average price of $96.54.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.29. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.29) EPS. As a group, equities analysts predict that Seagate Technology Holdings plc will post 6.72 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.80 annualized dividend and a yield of 2.67%. Seagate Technology’s payout ratio is presently -217.05%.

Insider Activity at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction of $72,075.00. Following the sale, the director now owns 3,034 shares in the company, valued at approximately $291,567.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total value of $1,869,200.00. Following the sale, the chief executive officer now owns 654,270 shares in the company, valued at $61,148,074.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the sale, the director now owns 3,034 shares in the company, valued at approximately $291,567.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,627 shares of company stock worth $5,489,495. Company insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

STX has been the subject of a number of recent analyst reports. Mizuho boosted their target price on Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Barclays upped their price target on shares of Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. StockNews.com lowered shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Wells Fargo & Company boosted their price objective on Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley boosted their price objective on Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $115.94.

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.