Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,140 shares of the data storage provider’s stock after selling 1,244 shares during the quarter. Truist Financial Corp’s holdings in Seagate Technology were worth $2,256,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. CIBC Asset Management Inc increased its position in Seagate Technology by 4.9% in the 4th quarter. CIBC Asset Management Inc now owns 32,082 shares of the data storage provider’s stock valued at $2,769,000 after acquiring an additional 1,504 shares during the period. Human Investing LLC bought a new position in Seagate Technology during the 4th quarter valued at $48,000. State of New Jersey Common Pension Fund D boosted its stake in Seagate Technology by 2.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 74,147 shares of the data storage provider’s stock valued at $6,400,000 after purchasing an additional 2,027 shares in the last quarter. JFS Wealth Advisors LLC boosted its stake in Seagate Technology by 27.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock valued at $46,000 after purchasing an additional 113 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in Seagate Technology by 207.0% during the 4th quarter. Allworth Financial LP now owns 5,774 shares of the data storage provider’s stock valued at $498,000 after purchasing an additional 3,893 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Price Performance

NASDAQ STX opened at $100.27 on Thursday. Seagate Technology Holdings plc has a fifty-two week low of $82.31 and a fifty-two week high of $115.32. The stock’s 50-day moving average is $95.22 and its two-hundred day moving average is $99.95. The firm has a market cap of $21.23 billion, a P/E ratio of 18.33 and a beta of 1.07.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be issued 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 2.87%. Seagate Technology’s dividend payout ratio (DPR) is currently 52.65%.

Insider Buying and Selling at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $102.83, for a total value of $2,056,600.00. Following the sale, the chief executive officer now directly owns 622,497 shares of the company’s stock, valued at approximately $64,011,366.51. This trade represents a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $101.82, for a total value of $76,365.00. Following the completion of the sale, the director now directly owns 6,555 shares in the company, valued at approximately $667,430.10. This represents a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,891 shares of company stock worth $2,146,848 over the last three months. Corporate insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on STX. Bank of America increased their price target on Seagate Technology from $124.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Barclays raised their price objective on Seagate Technology from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $120.00 price objective on shares of Seagate Technology in a research note on Wednesday, January 22nd. Finally, Mizuho reduced their price objective on Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $122.56.

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.