APG Asset Management US Inc. bought a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,626 shares of the data storage provider's stock, valued at approximately $572,000.
Several other institutional investors and hedge funds have also bought and sold shares of STX. Vanguard Group Inc. increased its stake in shares of Seagate Technology by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock worth $2,414,446,000 after buying an additional 1,814,821 shares during the period. National Pension Service purchased a new position in shares of Seagate Technology in the fourth quarter valued at about $43,436,000. Los Angeles Capital Management LLC raised its stake in shares of Seagate Technology by 176.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 741,592 shares of the data storage provider's stock valued at $64,007,000 after acquiring an additional 473,484 shares during the last quarter. Franklin Resources Inc. boosted its holdings 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 worth $197,844,000 after purchasing an additional 405,232 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Seagate Technology by 14.6% in the fourth quarter. Invesco Ltd. now owns 2,761,534 shares of the data storage provider's stock worth $238,348,000 after purchasing an additional 352,300 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on STX shares. Mizuho cut their price objective on Seagate Technology from $115.00 to $95.00 and set an "outperform" rating on the stock in a research report on Thursday. Wells Fargo & Company reduced their price objective on shares of Seagate Technology from $120.00 to $110.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 16th. Northland Securities reaffirmed an "outperform" rating and set a $160.00 target price (up previously from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. Barclays increased their price target on shares of Seagate Technology from $95.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 22nd. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $120.00 price objective on shares of Seagate Technology in a research report on Wednesday, January 22nd. One 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $120.17.
Read Our Latest Research Report on Seagate Technology
Seagate Technology Stock Up 3.6 %
STX traded up $2.52 during midday trading on Monday, reaching $72.67. The company had a trading volume of 3,435,666 shares, compared to its average volume of 2,771,095. Seagate Technology Holdings plc has a 1 year low of $63.19 and a 1 year high of $115.32. The company has a market cap of $15.38 billion, a P/E ratio of 13.29 and a beta of 1.21. The business has a 50-day moving average of $89.19 and a two-hundred day moving average of $95.75.
Seagate Technology Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend was Wednesday, March 19th. Seagate Technology's dividend payout ratio is currently 52.65%.
Insider Buying and Selling
In other news, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the sale, the chief executive officer now directly owns 555,677 shares in the company, valued at approximately $46,988,047.12. This represents a 3.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.81% of the stock is currently owned by company insiders.
Seagate Technology Company Profile
(
Free Report)
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.
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