Kovitz Investment Group Partners LLC Reduces Position in Seagate Technology Holdings plc (NASDAQ:STX)

Kovitz Investment Group Partners LLC reduced its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 94.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,759 shares of the data storage provider’s stock after selling 108,596 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Seagate Technology were worth $583,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JFS Wealth Advisors LLC grew its holdings in Seagate Technology by 27.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock valued at $46,000 after buying an additional 113 shares in the last quarter. Human Investing LLC acquired a new stake in Seagate Technology during the fourth quarter worth about $48,000. Mizuho Bank Ltd. raised its stake in Seagate Technology by 140.0% during the fourth quarter. Mizuho Bank Ltd. now owns 600 shares of the data storage provider’s stock worth $52,000 after purchasing an additional 350 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Seagate Technology in the 3rd quarter valued at approximately $54,000. Finally, S.A. Mason LLC acquired a new stake in shares of Seagate Technology during the 4th quarter worth approximately $55,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total value of $1,691,200.00. Following the transaction, the chief executive officer now directly owns 555,677 shares of the company’s stock, valued at $46,988,047.12. The trade was a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.81% of the stock is currently owned by insiders.

Seagate Technology Price Performance

Seagate Technology stock opened at $90.01 on Friday. Seagate Technology Holdings plc has a 1-year low of $63.19 and a 1-year high of $115.32. The stock has a market cap of $19.06 billion, a PE ratio of 16.46 and a beta of 1.21. The stock’s fifty day moving average is $83.39 and its two-hundred day moving average is $93.08.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.75 by $0.15. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The firm’s revenue was up 30.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 earnings per share. On average, research analysts expect that Seagate Technology Holdings plc will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be given a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a yield of 3.20%. Seagate Technology’s dividend payout ratio (DPR) is presently 52.65%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wells Fargo & Company lowered their price objective on Seagate Technology from $120.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday. Morgan Stanley cut their price objective on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Citigroup cut their target price on Seagate Technology from $115.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. UBS Group lifted their target price on Seagate Technology from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Susquehanna increased their price target on shares of Seagate Technology from $65.00 to $68.00 and gave the stock a “negative” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average price target of $114.89.

Seagate Technology 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.