Forte Capital LLC ADV Reduces Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Forte Capital LLC ADV lowered its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 8.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,570 shares of the data storage provider’s stock after selling 2,402 shares during the period. Forte Capital LLC ADV’s holdings in Seagate Technology were worth $2,293,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of Seagate Technology by 47.9% in the third quarter. Blue Trust Inc. now owns 2,385 shares of the data storage provider’s stock worth $246,000 after buying an additional 772 shares during the last quarter. Raymond James & Associates increased its stake in shares of Seagate Technology by 2.4% in the third quarter. Raymond James & Associates now owns 227,667 shares of the data storage provider’s stock worth $24,936,000 after buying an additional 5,385 shares during the last quarter. Foundations Investment Advisors LLC increased its stake in shares of Seagate Technology by 10.2% in the third quarter. Foundations Investment Advisors LLC now owns 2,299 shares of the data storage provider’s stock worth $252,000 after buying an additional 213 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Seagate Technology by 3.6% in the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock worth $281,000 after buying an additional 89 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of Seagate Technology by 14.0% in the third quarter. Signaturefd LLC now owns 4,875 shares of the data storage provider’s stock worth $534,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Down 0.3 %

STX stock opened at $102.64 on Friday. The company has a market capitalization of $21.73 billion, a P/E ratio of 18.76 and a beta of 1.07. The company has a 50-day simple moving average of $94.92 and a 200 day simple moving average of $99.74. Seagate Technology Holdings plc has a fifty-two week low of $82.31 and a fifty-two week high of $115.32.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s payout ratio is currently 52.65%.

Insider Buying and Selling

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were 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 in the company, valued at approximately $64,011,366.51. The trade was a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the sale, the director now owns 6,555 shares in the company, valued at approximately $667,430.10. This trade represents a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,891 shares of company stock valued at $2,146,848 over the last 90 days. 0.81% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on STX shares. Citigroup lifted their price target on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Wedbush reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a report on Wednesday, January 22nd. Wells Fargo & Company decreased their price objective on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Rosenblatt Securities lifted their price objective on shares of Seagate Technology from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Mizuho reduced their price target on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus 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.