GM Advisory Group LLC Purchases New Position in Seagate Technology Holdings PLC $STX

GM Advisory Group LLC acquired a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,915 shares of the data storage provider’s stock, valued at approximately $276,000.

A number of other large investors have also recently made changes to their positions in STX. Harbor Asset Planning Inc. acquired a new position in Seagate Technology during the second quarter worth approximately $27,000. MTM Investment Management LLC acquired a new stake in shares of Seagate Technology in the second quarter valued at approximately $29,000. GoalVest Advisory LLC grew its position in shares of Seagate Technology by 30.6% during the second quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider’s stock worth $46,000 after acquiring an additional 75 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new position in shares of Seagate Technology in the 2nd quarter valued at $57,000. Finally, Bruce G. Allen Investments LLC raised its position in Seagate Technology by 28.1% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 419 shares of the data storage provider’s stock valued at $60,000 after purchasing an additional 92 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Seagate Technology

In other news, EVP Ban Seng Teh sold 6,000 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $270.00, for a total value of $1,620,000.00. Following the completion of the transaction, the executive vice president owned 12,041 shares in the company, valued at $3,251,070. This trade represents a 33.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kian Fatt Chong sold 7,078 shares of the firm’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $272.14, for a total transaction of $1,926,206.92. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 131,261 shares of company stock valued at $34,210,708 in the last three months. Insiders own 0.79% of the company’s stock.

Seagate Technology Trading Up 4.0%

NASDAQ STX opened at $272.28 on Friday. The stock has a market capitalization of $58.15 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 1.17 and a beta of 1.63. The business’s 50 day moving average is $243.90 and its two-hundred day moving average is $180.81. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $297.88.

Seagate Technology Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on STX. BNP Paribas Exane lowered their price objective on shares of Seagate Technology from $240.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. Evercore ISI raised their price target on Seagate Technology from $160.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Barclays upped their price objective on Seagate Technology from $200.00 to $240.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Seagate Technology in a research note on Tuesday. Finally, Rosenblatt Securities upped their price target on Seagate Technology from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and an average price target of $283.41.

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.