Adams Wealth Management Has $751,000 Position in Seagate Technology Holdings PLC $STX

Adams Wealth Management cut its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 53.8% during the 2nd quarter, Holdings Channel reports. The firm owned 5,216 shares of the data storage provider’s stock after selling 6,067 shares during the quarter. Adams Wealth Management’s holdings in Seagate Technology were worth $751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Seagate Technology Price Performance

Seagate Technology stock opened at $287.64 on Monday. The business has a 50 day moving average of $254.10 and a 200-day moving average of $195.06. The company has a market capitalization of $61.43 billion, a P/E ratio of 36.92, a P/E/G ratio of 1.13 and a beta of 1.59. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $308.93.

Seagate Technology Increases Dividend

The firm also recently declared 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. 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. This represents a $2.96 annualized dividend and a dividend yield of 1.0%. Seagate Technology’s payout ratio is 36.97%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Bank of America raised their price target on Seagate Technology from $275.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. Barclays upped their price objective on Seagate Technology from $200.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. BNP Paribas Exane decreased their target price on Seagate Technology from $240.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. The Goldman Sachs Group increased their target price on shares of Seagate Technology from $170.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $287.17.

Insider Activity at Seagate Technology

In related news, Director Stephanie Tilenius sold 2,046 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $266.41, for a total value of $545,074.86. Following the sale, the director owned 12,244 shares of the company’s stock, valued at $3,261,924.04. The trade was a 14.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kian Fatt Chong sold 7,078 shares of the stock in a transaction 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. Insiders have sold 132,932 shares of company stock valued at $36,109,652 in the last quarter. Insiders own 0.79% of the company’s stock.

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.