Gilliland Jeter Wealth Management LLC Invests $55,000 in Seagate Technology Holdings plc (NASDAQ:STX)

Gilliland Jeter Wealth Management LLC purchased a new stake in Seagate Technology Holdings plc (NASDAQ:STX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 500 shares of the data storage provider’s stock, valued at approximately $55,000.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Seagate Technology during the second quarter worth approximately $27,000. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Seagate Technology by 2,407.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after buying an additional 337 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Seagate Technology in the second quarter valued at about $41,000. Larson Financial Group LLC grew its stake in shares of Seagate Technology by 15,766.7% in the second quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock valued at $49,000 after acquiring an additional 473 shares in the last quarter. Finally, Viking Fund Management LLC increased its holdings in shares of Seagate Technology by 722.2% during the first quarter. Viking Fund Management LLC now owns 740 shares of the data storage provider’s stock worth $69,000 after purchasing an additional 650 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Activity

In related news, CEO William D. Mosley sold 141,785 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the transaction, the chief executive officer now directly owns 668,616 shares in the company, valued at $73,668,110.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Seagate Technology news, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the completion of the sale, the chief executive officer now directly owns 668,616 shares of the company’s stock, valued at approximately $73,668,110.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ban Seng Teh sold 10,117 shares of Seagate Technology stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total value of $1,112,870.00. Following the transaction, the executive vice president now directly owns 5,387 shares in the company, valued at approximately $592,570. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 223,284 shares of company stock worth $23,800,887 over the last quarter. 0.81% of the stock is currently owned by corporate insiders.

Seagate Technology Price Performance

Seagate Technology stock opened at $112.12 on Monday. The company has a market capitalization of $23.60 billion, a P/E ratio of 72.81 and a beta of 1.04. The business has a 50 day moving average of $104.29 and a 200-day moving average of $99.21. Seagate Technology Holdings plc has a 1 year low of $64.12 and a 1 year high of $115.32.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.76 by $0.29. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. The company’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.29) EPS. Equities analysts anticipate that Seagate Technology Holdings plc will post 7.09 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 23rd were paid a $0.70 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 2.50%. Seagate Technology’s dividend payout ratio (DPR) is presently 181.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Cantor Fitzgerald increased their price target on Seagate Technology from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Evercore ISI raised their price target on Seagate Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Northland Securities upped their price objective on shares of Seagate Technology from $119.00 to $142.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Susquehanna upped their price target on shares of Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $115.94.

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.