Hilltop National Bank Sells 662 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Hilltop National Bank reduced its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,910 shares of the data storage provider’s stock after selling 662 shares during the quarter. Hilltop National Bank’s holdings in Seagate Technology were worth $942,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of Seagate Technology during the third quarter valued at approximately $26,000. Quarry LP bought a new stake in shares of Seagate Technology during the 2nd quarter valued at $27,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Seagate Technology by 2,407.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after buying an additional 337 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of Seagate Technology by 177.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after buying an additional 258 shares during the period. Finally, JFS Wealth Advisors LLC increased its stake in shares of Seagate Technology by 232.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after acquiring an additional 293 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Evercore ISI upped their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $125.00 price target on shares of Seagate Technology in a research note on Wednesday, October 23rd. Northland Securities lifted their price objective on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Benchmark reissued a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, Citigroup raised their price target on Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $118.83.

Insider Activity at Seagate Technology

In other Seagate Technology news, Director Jay L. Geldmacher sold 4,100 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $103.30, for a total transaction of $423,530.00. Following the completion of the sale, the director now owns 2,852 shares in the company, valued at $294,611.60. This represents a 58.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total value of $76,365.00. Following the completion of the transaction, the director now owns 6,555 shares in the company, valued at $667,430.10. This represents a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,304 shares of company stock worth $5,656,238. Company insiders own 0.81% of the company’s stock.

Seagate Technology Stock Performance

Shares of STX traded down $1.11 during mid-day trading on Friday, hitting $87.58. 644,055 shares of the stock were exchanged, compared to its average volume of 2,179,252. Seagate Technology Holdings plc has a 52-week low of $79.39 and a 52-week high of $115.32. The firm has a 50-day moving average of $95.55 and a two-hundred day moving average of $100.77. The company has a market cap of $18.53 billion, a PE ratio of 22.87 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. Seagate Technology’s revenue was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.34) EPS. On average, sell-side analysts predict that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Sunday, December 15th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend was Friday, December 13th. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is currently 75.20%.

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.