Independent Advisor Alliance Acquires 773 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Independent Advisor Alliance raised its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,471 shares of the data storage provider’s stock after acquiring an additional 773 shares during the quarter. Independent Advisor Alliance’s holdings in Seagate Technology were worth $1,422,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Berkshire Bank increased its position in shares of Seagate Technology by 2.6% during the fourth quarter. Berkshire Bank now owns 4,118 shares of the data storage provider’s stock worth $355,000 after purchasing an additional 103 shares in the last quarter. MWA Asset Management increased its position in Seagate Technology by 0.5% during the 4th quarter. MWA Asset Management now owns 19,636 shares of the data storage provider’s stock valued at $1,695,000 after buying an additional 104 shares in the last quarter. JFS Wealth Advisors LLC raised its stake in Seagate Technology by 27.0% in the fourth 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 during the last quarter. My Legacy Advisors LLC boosted its holdings in Seagate Technology by 3.9% in the fourth quarter. My Legacy Advisors LLC now owns 3,113 shares of the data storage provider’s stock worth $294,000 after acquiring an additional 118 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Seagate Technology by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,098 shares of the data storage provider’s stock worth $1,562,000 after acquiring an additional 120 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on STX shares. Summit Insights raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Morgan Stanley dropped their price objective on shares of Seagate Technology from $133.00 to $129.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. The Goldman Sachs Group reduced their target price on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. UBS Group boosted their price target on Seagate Technology from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Mizuho reduced their price objective on Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.56.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $87.90 on Friday. Seagate Technology Holdings plc has a 1 year low of $82.31 and a 1 year high of $115.32. The company’s fifty day moving average price is $96.32 and its 200 day moving average price is $99.12. The company has a market capitalization of $18.61 billion, a PE ratio of 16.07 and a beta of 1.01.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s dividend payout ratio (DPR) is presently 52.65%.

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.