Wealthfront Advisers LLC Lowers Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Wealthfront Advisers LLC lessened its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,748 shares of the data storage provider’s stock after selling 4,166 shares during the period. Wealthfront Advisers LLC’s holdings in Seagate Technology were worth $4,121,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Independent Advisor Alliance grew its position in Seagate Technology by 4.9% in the fourth quarter. Independent Advisor Alliance now owns 16,471 shares of the data storage provider’s stock worth $1,422,000 after acquiring an additional 773 shares in the last quarter. Paragon Private Wealth Management LLC lifted its stake in Seagate Technology by 4.7% during the fourth quarter. Paragon Private Wealth Management LLC now owns 3,359 shares of the data storage provider’s stock worth $290,000 after purchasing an additional 150 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Seagate Technology by 12.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 31,326 shares of the data storage provider’s stock worth $2,704,000 after purchasing an additional 3,353 shares in the last quarter. Sound View Wealth Advisors Group LLC bought a new position in shares of Seagate Technology during the 4th quarter valued at about $1,191,000. Finally, Amundi raised its holdings in shares of Seagate Technology by 138.1% during the 4th quarter. Amundi now owns 442,065 shares of the data storage provider’s stock valued at $39,207,000 after buying an additional 256,419 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

STX stock opened at $85.62 on Friday. Seagate Technology Holdings plc has a 1 year low of $82.31 and a 1 year high of $115.32. The firm has a 50-day moving average of $96.35 and a 200 day moving average of $99.24. The company has a market cap of $18.13 billion, a P/E ratio of 15.65 and a beta of 1.01.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 3.36%. Seagate Technology’s payout ratio is 52.65%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Bank of America reduced their price target on shares of Seagate Technology from $130.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday. Wedbush reiterated an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a research report on Wednesday, January 22nd. Summit Insights upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities lifted their price objective on Seagate Technology from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Morgan Stanley dropped their target price on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.56.

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.