AE Wealth Management LLC Decreases Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

AE Wealth Management LLC cut its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 54.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,984 shares of the data storage provider's stock after selling 121,527 shares during the period. AE Wealth Management LLC's holdings in Seagate Technology were worth $10,429,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors raised its stake in 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 in the last quarter. Vanguard Group Inc. raised its holdings 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 valued at $2,303,274,000 after acquiring an additional 746,395 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Seagate Technology by 83.2% during the 4th quarter. Wells Fargo & Company MN now owns 1,014,075 shares of the data storage provider's stock valued at $86,572,000 after acquiring an additional 460,599 shares during the period. Sanders Capital LLC raised its stake in Seagate Technology by 3.0% in the fourth quarter. Sanders Capital LLC now owns 15,486,153 shares of the data storage provider's stock valued at $1,322,053,000 after purchasing an additional 443,768 shares in the last quarter. Finally, Putnam Investments LLC lifted its position in Seagate Technology by 124.3% during the fourth quarter. Putnam Investments LLC now owns 680,456 shares of the data storage provider's stock worth $58,091,000 after purchasing an additional 377,148 shares during the period. Institutional investors own 92.87% of the company's stock.

Insider Transactions at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction that occurred 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 directly owns 3,034 shares of the company's stock, valued at $291,567.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction dated Wednesday, September 4th. The shares were 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 $291,567.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ban Seng Teh sold 10,117 shares of the firm's stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the transaction, the executive vice president now directly owns 5,387 shares in the company, valued at $592,570. The disclosure for this sale can be found here. Insiders sold a total of 56,627 shares of company stock valued at $5,489,495 over the last three months. Corporate insiders own 0.89% of the company's stock.

Seagate Technology Stock Performance

Shares of STX stock traded up $0.62 during trading hours on Friday, hitting $104.74. 5,499,919 shares of the company were exchanged, compared to its average volume of 2,565,761. The company has a 50 day simple moving average of $101.15 and a two-hundred day simple moving average of $96.53. The firm has a market cap of $21.99 billion, a P/E ratio of -81.19 and a beta of 1.03. Seagate Technology Holdings plc has a fifty-two week low of $63.32 and a fifty-two week high of $113.57.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.29. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The company had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.87 billion. During the same quarter in the prior year, the firm earned ($0.29) EPS. The business's revenue was up 17.8% on a year-over-year basis. As a group, sell-side analysts expect that Seagate Technology Holdings plc will post 6.72 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Monday, September 23rd. Seagate Technology's dividend payout ratio is currently -217.05%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on STX. Citigroup boosted their price objective on shares of Seagate Technology from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Wells Fargo & Company upped their price objective on Seagate Technology from $90.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 24th. Evercore ISI lifted their target price on Seagate Technology from $110.00 to $125.00 and gave the company an "outperform" rating in a research report on Tuesday, July 16th. Cantor Fitzgerald boosted their target price on Seagate Technology from $120.00 to $125.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 24th. Finally, Wedbush raised their price target on shares of Seagate Technology from $100.00 to $130.00 and gave the company an "outperform" rating in a research note on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average 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.