Old Port Advisors Sells 288 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Old Port Advisors lowered its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 0.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,844 shares of the data storage provider’s stock after selling 288 shares during the quarter. Seagate Technology comprises 0.9% of Old Port Advisors’ holdings, making the stock its 28th biggest position. Old Port Advisors’ holdings in Seagate Technology were worth $3,094,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of STX. Allspring Global Investments Holdings LLC grew its position in shares of Seagate Technology by 2.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,871 shares of the data storage provider’s stock worth $1,019,000 after purchasing an additional 270 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of Seagate Technology during the 2nd quarter valued at $271,000. Commonwealth Equity Services LLC grew its holdings in shares of Seagate Technology by 5.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 88,077 shares of the data storage provider’s stock worth $9,096,000 after purchasing an additional 4,357 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Seagate Technology by 8.6% in the second quarter. Farther Finance Advisors LLC now owns 4,704 shares of the data storage provider’s stock worth $482,000 after purchasing an additional 374 shares during the period. Finally, Natixis Advisors LLC raised its stake in Seagate Technology by 13.4% in the second quarter. Natixis Advisors LLC now owns 66,023 shares of the data storage provider’s stock valued at $6,818,000 after purchasing an additional 7,777 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Seagate Technology Trading Up 0.9 %

NASDAQ:STX traded up $0.81 during trading hours on Thursday, hitting $87.12. 301,486 shares of the company were exchanged, compared to its average volume of 2,504,455. The stock has a market capitalization of $18.43 billion, a price-to-earnings ratio of 22.75 and a beta of 1.03. Seagate Technology Holdings plc has a one year low of $79.39 and a one year high of $115.32. The company has a fifty day simple moving average of $97.12 and a 200 day simple moving average of $101.42.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The firm’s quarterly revenue was up 49.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.34) earnings per share. Equities research analysts predict that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 3.31%. Seagate Technology’s dividend payout ratio is 75.20%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on STX. Evercore ISI increased their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Rosenblatt Securities increased their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wedbush restated an “outperform” rating and set a $150.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 23rd. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, Northland Securities boosted their price target on Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $118.83.

Insider Buying and Selling

In related news, SVP John Christopher Morris sold 1,131 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total transaction of $126,558.90. Following the transaction, the senior vice president now owns 7,191 shares in the company, valued at $804,672.90. The trade was a 13.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the completion of the sale, the chief executive officer now owns 642,497 shares of the company’s stock, valued at $63,947,726.41. The trade was a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,304 shares of company stock valued at $5,656,238 over the last quarter. Insiders own 0.81% of the company’s stock.

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.