13,316 Shares in Seagate Technology Holdings PLC $STX Purchased by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. purchased a new position in Seagate Technology Holdings PLC (NASDAQ:STX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 13,316 shares of the data storage provider’s stock, valued at approximately $1,922,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Nuveen LLC purchased a new position in Seagate Technology in the first quarter worth approximately $17,058,000. Public Sector Pension Investment Board increased its stake in shares of Seagate Technology by 6.9% during the first quarter. Public Sector Pension Investment Board now owns 32,862 shares of the data storage provider’s stock worth $2,792,000 after acquiring an additional 2,135 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Seagate Technology by 4.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 25,600 shares of the data storage provider’s stock valued at $2,175,000 after buying an additional 1,100 shares in the last quarter. Aberdeen Group plc grew its holdings in Seagate Technology by 125.2% during the 1st quarter. Aberdeen Group plc now owns 158,006 shares of the data storage provider’s stock valued at $13,290,000 after buying an additional 87,855 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its position in Seagate Technology by 44.3% during the first quarter. Raymond James Financial Inc. now owns 383,871 shares of the data storage provider’s stock worth $32,610,000 after acquiring an additional 117,844 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Transactions at Seagate Technology

In related news, CFO Gianluca Romano sold 54,021 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $285.16, for a total value of $15,404,628.36. Following the completion of the transaction, the chief financial officer directly owned 56,293 shares of the company’s stock, valued at $16,052,511.88. This trade represents a 48.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ban Seng Teh sold 6,000 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president owned 12,041 shares in the company, valued at approximately $3,251,070. This represents a 33.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 132,932 shares of company stock worth $36,109,652. Insiders own 0.79% of the company’s stock.

Seagate Technology Trading Down 6.6%

Shares of Seagate Technology stock opened at $287.64 on Monday. The company has a market cap of $61.43 billion, a P/E ratio of 36.92, a P/E/G ratio of 1.13 and a beta of 1.59. The stock has a 50-day moving average price of $254.10 and a 200 day moving average price of $195.06. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $308.93.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, December 24th. This represents a $2.96 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s dividend payout ratio (DPR) is presently 36.97%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on STX shares. Wedbush lifted their target price on Seagate Technology from $260.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Wells Fargo & Company increased their price target on Seagate Technology from $240.00 to $250.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. Benchmark lifted their price target on Seagate Technology from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. The Goldman Sachs Group lifted their price target on shares of Seagate Technology from $170.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $287.17.

About Seagate Technology

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.