JPMorgan Chase & Co. Reduces Position in Seagate Technology Holdings plc (NASDAQ:STX)

JPMorgan Chase & Co. trimmed its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 26.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,759,601 shares of the data storage provider’s stock after selling 5,892,398 shares during the period. JPMorgan Chase & Co. owned about 0.08% of Seagate Technology worth $1,446,521,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Seagate Technology by 9.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,834 shares of the data storage provider’s stock worth $4,215,000 after buying an additional 4,229 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Seagate Technology by 341.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider’s stock valued at $143,370,000 after acquiring an additional 1,012,638 shares during the period. Kingswood Wealth Advisors LLC boosted its position in Seagate Technology by 87.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 8,578 shares of the data storage provider’s stock worth $740,000 after purchasing an additional 4,014 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Seagate Technology by 9.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 84,222 shares of the data storage provider’s stock valued at $7,360,000 after purchasing an additional 7,599 shares during the period. Finally, Rheos Capital Works Inc. increased its position in shares of Seagate Technology by 2.5% during the 4th quarter. Rheos Capital Works Inc. now owns 331,500 shares of the data storage provider’s stock valued at $28,612,000 after purchasing an additional 8,000 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Summit Insights upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $120.00 price objective on shares of Seagate Technology in a research note on Wednesday, January 22nd. Benchmark raised Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Wednesday, January 22nd. Citigroup cut their price target on Seagate Technology from $125.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $121.00.

Seagate Technology Stock Down 0.1 %

Shares of Seagate Technology stock opened at $87.50 on Friday. The firm has a market cap of $18.52 billion, a price-to-earnings ratio of 16.00 and a beta of 1.01. Seagate Technology Holdings plc has a twelve month low of $82.31 and a twelve month high of $115.32. The business has a 50-day moving average price of $95.96 and a 200-day moving average price of $98.46.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 annualized dividend and a dividend yield of 3.29%. Seagate Technology’s dividend payout ratio (DPR) is 52.65%.

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.