Clearbridge Investments LLC reduced its stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 20.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,623,439 shares of the data storage provider's stock after selling 415,358 shares during the period. Clearbridge Investments LLC owned 0.77% of Seagate Technology worth $140,119,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Berkshire Bank lifted its holdings in Seagate Technology by 2.6% during the 4th quarter. Berkshire Bank now owns 4,118 shares of the data storage provider's stock worth $355,000 after purchasing an additional 103 shares during the last quarter. MWA Asset Management lifted its holdings in shares of Seagate Technology by 0.5% during the fourth quarter. MWA Asset Management now owns 19,636 shares of the data storage provider's stock worth $1,695,000 after buying an additional 104 shares in the last quarter. JFS Wealth Advisors LLC boosted its position in shares of Seagate Technology by 27.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock valued at $46,000 after acquiring an additional 113 shares during the period. Signaturefd LLC boosted its position in shares of Seagate Technology by 2.3% in the fourth quarter. Signaturefd LLC now owns 4,988 shares of the data storage provider's stock valued at $431,000 after acquiring an additional 113 shares during the period. Finally, My Legacy Advisors LLC grew its stake in shares of Seagate Technology by 3.9% in the fourth quarter. My Legacy Advisors LLC now owns 3,113 shares of the data storage provider's stock valued at $294,000 after acquiring an additional 118 shares in the last quarter. 92.87% of the stock is owned by institutional investors.
Seagate Technology Price Performance
Shares of NASDAQ STX traded down $0.41 during mid-day trading on Tuesday, hitting $84.54. 2,728,184 shares of the stock traded hands, compared to its average volume of 2,623,026. The company has a market cap of $17.90 billion, a PE ratio of 15.46 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. The firm has a 50 day simple moving average of $95.12 and a two-hundred day simple moving average of $98.05.
Seagate Technology Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.41%. The ex-dividend date is Wednesday, March 19th. Seagate Technology's dividend payout ratio (DPR) is currently 52.65%.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the stock. Northland Securities reissued an "outperform" rating and issued a $160.00 price objective (up previously from $144.00) on shares of Seagate Technology in a report on Wednesday, January 22nd. Morgan Stanley reduced their price target on Seagate Technology from $133.00 to $129.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 21st. The Goldman Sachs Group dropped their price objective on Seagate Technology from $112.00 to $99.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Wedbush reiterated an "outperform" rating and set a $150.00 target price on shares of Seagate Technology in a research report on Wednesday, January 22nd. Finally, StockNews.com cut Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $121.00.
View Our Latest Stock Analysis on STX
Seagate Technology Profile
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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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