Level Four Advisory Services LLC Cuts Holdings in Seagate Technology Holdings PLC $STX

Level Four Advisory Services LLC trimmed its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,069 shares of the data storage provider’s stock after selling 256 shares during the quarter. Level Four Advisory Services LLC’s holdings in Seagate Technology were worth $443,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in Seagate Technology by 35.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,809 shares of the data storage provider’s stock valued at $2,137,000 after purchasing an additional 3,874 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Seagate Technology during the 2nd quarter worth about $152,000. GM Advisory Group LLC purchased a new position in Seagate Technology in the 2nd quarter valued at about $276,000. Quadrant Capital Group LLC boosted its holdings in Seagate Technology by 69.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 9,472 shares of the data storage provider’s stock worth $1,367,000 after buying an additional 3,882 shares during the last quarter. Finally, Vinva Investment Management Ltd acquired a new stake in Seagate Technology in the 2nd quarter worth about $484,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STX has been the subject of a number of research analyst reports. Morgan Stanley increased their target price on Seagate Technology from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Wells Fargo & Company increased their price objective on Seagate Technology from $240.00 to $250.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Robert W. Baird raised their price target on shares of Seagate Technology from $188.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Mizuho boosted their price objective on Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Finally, Argus raised their price target on shares of Seagate Technology from $170.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $283.41.

Insider Activity

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $262.82, for a total value of $5,256,400.00. Following the transaction, the chief executive officer directly owned 465,668 shares in the company, valued at approximately $122,386,863.76. This trade represents a 4.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kian Fatt Chong sold 7,078 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $272.14, for a total value of $1,926,206.92. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 131,261 shares of company stock valued at $34,210,708. Insiders own 0.79% of the company’s stock.

Seagate Technology Price Performance

NASDAQ STX opened at $270.10 on Tuesday. The firm’s fifty day moving average price is $245.82 and its 200 day moving average price is $184.24. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $297.88. The company has a market capitalization of $57.68 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 1.17 and a beta of 1.63.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 1.1%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date is Wednesday, December 24th. Seagate Technology’s payout ratio is currently 38.00%.

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.