World Investment Advisors Purchases 6,997 Shares of Seagate Technology Holdings PLC $STX

World Investment Advisors boosted its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 151.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,606 shares of the data storage provider’s stock after purchasing an additional 6,997 shares during the quarter. World Investment Advisors’ holdings in Seagate Technology were worth $2,740,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Harbor Asset Planning Inc. purchased a new position in shares of Seagate Technology during the second quarter valued at $27,000. Rakuten Securities Inc. grew its holdings in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 168 shares in the last quarter. MTM Investment Management LLC purchased a new position in Seagate Technology during the 2nd quarter valued at about $29,000. GoalVest Advisory LLC increased its position in Seagate Technology by 30.6% during the 2nd quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider’s stock valued at $46,000 after purchasing an additional 75 shares during the period. Finally, Trust Co. of Toledo NA OH bought a new stake in shares of Seagate Technology in the 2nd quarter valued at about $57,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Price Performance

Shares of STX stock opened at $286.22 on Friday. The stock’s fifty day moving average price is $266.74 and its 200 day moving average price is $205.34. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $308.93. The company has a market cap of $61.13 billion, a price-to-earnings ratio of 36.74, a price-to-earnings-growth ratio of 1.12 and a beta of 1.59.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 24th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 24th. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s payout ratio is 38.00%.

Analyst Upgrades and Downgrades

STX has been the topic of a number of recent research reports. Rosenblatt Securities increased their price objective on shares of Seagate Technology from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. UBS Group lowered their target price on Seagate Technology from $235.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Morgan Stanley lifted their price target on Seagate Technology from $270.00 to $337.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. Mizuho boosted their price target on Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Finally, Bank of America raised their price objective on Seagate Technology from $275.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $293.13.

Insider Buying and Selling

In other Seagate Technology news, CFO Gianluca Romano sold 54,021 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $285.16, for a total transaction of $15,404,628.36. Following the sale, the chief financial officer owned 56,293 shares of the company’s stock, valued at approximately $16,052,511.88. The trade was a 48.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ban Seng Teh sold 6,000 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $270.00, for a total transaction of $1,620,000.00. Following the completion of the transaction, the executive vice president directly owned 12,041 shares of the company’s stock, valued at approximately $3,251,070. This represents a 33.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 132,555 shares of company stock worth $36,030,007 over the last ninety days. Company insiders own 0.79% of the company’s stock.

About Seagate Technology

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.