Inlet Private Wealth LLC Sells 4,425 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Inlet Private Wealth LLC reduced its stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,100 shares of the data storage provider's stock after selling 4,425 shares during the quarter. Seagate Technology comprises 1.4% of Inlet Private Wealth LLC's holdings, making the stock its 22nd largest position. Inlet Private Wealth LLC's holdings in Seagate Technology were worth $5,446,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new position in shares of Seagate Technology in the third quarter valued at about $26,000. Quarry LP bought a new stake in Seagate Technology in the 2nd quarter valued at about $27,000. Advisors Asset Management Inc. grew its position in shares of Seagate Technology by 177.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider's stock worth $44,000 after purchasing an additional 258 shares in the last quarter. JFS Wealth Advisors LLC raised its position in shares of Seagate Technology by 232.5% in the third quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider's stock valued at $46,000 after buying an additional 293 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Seagate Technology in the third quarter valued at approximately $53,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Down 2.0 %

Shares of STX stock traded down $1.92 during mid-day trading on Friday, reaching $96.36. 2,799,188 shares of the stock traded hands, compared to its average volume of 3,372,411. The company has a market cap of $20.40 billion, a price-to-earnings ratio of 17.62 and a beta of 1.06. The stock's fifty day simple moving average is $95.10 and its two-hundred day simple moving average is $100.08. Seagate Technology Holdings plc has a 1-year low of $82.31 and a 1-year high of $115.32.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 2.99%. Seagate Technology's dividend payout ratio is presently 52.65%.

Analyst Ratings Changes

A number of research firms have commented on STX. Evercore ISI raised their price objective on Seagate Technology from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Citigroup boosted their price target on Seagate Technology from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. UBS Group increased their price objective on shares of Seagate Technology from $95.00 to $105.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Wells Fargo & Company dropped their target price on shares of Seagate Technology from $120.00 to $110.00 and set an "equal weight" rating for the company in a research report on Thursday, January 16th. Finally, Benchmark upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 price target on the stock in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $122.56.

Insiders Place Their Bets

In related news, Director Yolanda Lee Conyers sold 750 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total value of $76,365.00. Following the sale, the director now directly owns 6,555 shares in the company, valued at $667,430.10. This represents a 10.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kian Fatt Chong sold 9,182 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $105.50, for a total transaction of $968,701.00. The disclosure for this sale can be found here. Insiders have sold 30,073 shares of company stock valued at $3,115,549 in the last ninety days. 0.81% of the stock is currently owned by insiders.

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.