Northwestern Mutual Wealth Management Co. Acquires 3,874 Shares of Seagate Technology Holdings PLC $STX

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 35.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,809 shares of the data storage provider's stock after acquiring an additional 3,874 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Seagate Technology were worth $2,137,000 at the end of the most recent reporting period.

• Seagate Stock Could Soar as AI Drives Storage Demand

A number of other hedge funds and other institutional investors have also bought and sold shares of STX. Vanguard Group Inc. boosted its position in shares of Seagate Technology by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider's stock worth $2,441,729,000 after purchasing an additional 769,009 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Seagate Technology by 12.9% during the first quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider's stock valued at $1,607,321,000 after buying an additional 2,161,191 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Seagate Technology by 1.9% in the second quarter. Geode Capital Management LLC now owns 4,567,181 shares of the data storage provider's stock worth $656,066,000 after acquiring an additional 85,660 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Seagate Technology by 3.6% during the first quarter. Invesco Ltd. now owns 2,861,418 shares of the data storage provider's stock valued at $243,077,000 after acquiring an additional 99,884 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Seagate Technology by 0.8% in the 1st quarter. Royal Bank of Canada now owns 1,628,941 shares of the data storage provider's stock worth $138,378,000 after purchasing an additional 12,424 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Insiders Place Their Bets

In other Seagate Technology news, CFO Gianluca Romano sold 54,021 shares of Seagate Technology stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $285.16, for a total transaction of $15,404,628.36. Following the transaction, the chief financial officer owned 56,293 shares of the company's stock, valued at $16,052,511.88. The trade was 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 the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $271.03, for a total transaction of $5,420,600.00. Following the completion of the sale, the chief executive officer directly owned 445,668 shares of the company's stock, valued at approximately $120,789,398.04. This trade represents a 4.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 152,011 shares of company stock valued at $39,835,990. 0.79% of the stock is currently owned by corporate insiders.

Seagate Technology Price Performance

• 3 Stocks Showing Relative Strength as Markets Pull Back

Shares of Seagate Technology stock opened at $265.63 on Friday. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $297.88. The company's fifty day simple moving average is $248.21 and its 200-day simple moving average is $186.43. The stock has a market capitalization of $56.73 billion, a PE ratio of 34.10, a P/E/G ratio of 1.01 and a beta of 1.59.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders 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 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, December 24th. Seagate Technology's dividend payout ratio is presently 36.97%.

Wall Street Analysts Forecast Growth

• Seagate's Record Earnings Prove Its Role as a Core AI Player

Several analysts recently commented on STX shares. Argus increased their price objective on shares of Seagate Technology from $170.00 to $300.00 and gave the company a "strong-buy" rating in a research report on Thursday, October 30th. Loop Capital raised their price target on shares of Seagate Technology from $350.00 to $465.00 and gave the company a "buy" rating in a research report on Monday, November 10th. Susquehanna upped their price objective on Seagate Technology from $80.00 to $150.00 and gave the company a "negative" rating in a research report on Wednesday, October 29th. Mizuho increased their target price on Seagate Technology from $245.00 to $280.00 and gave the company an "outperform" rating in a research note on Friday, October 17th. Finally, The Goldman Sachs Group boosted their price target on Seagate Technology from $170.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $285.45.

Get Our Latest Report on STX

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.

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