Encompass Wealth Advisors LLC Acquires Shares of 700 Seagate Technology plc (NASDAQ:STX)

Encompass Wealth Advisors LLC acquired a new stake in shares of Seagate Technology plc (NASDAQ:STX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 700 shares of the data storage provider’s stock, valued at approximately $44,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Lincoln National Corp lifted its position in Seagate Technology by 1.8% during the fourth quarter. Lincoln National Corp now owns 8,823 shares of the data storage provider’s stock valued at $548,000 after purchasing an additional 152 shares during the last quarter. Csenge Advisory Group lifted its holdings in shares of Seagate Technology by 4.1% in the 4th quarter. Csenge Advisory Group now owns 4,690 shares of the data storage provider’s stock worth $292,000 after acquiring an additional 184 shares during the last quarter. STA Wealth Management LLC increased its stake in Seagate Technology by 4.2% in the 4th quarter. STA Wealth Management LLC now owns 4,766 shares of the data storage provider’s stock worth $296,000 after buying an additional 192 shares during the period. Westside Investment Management Inc. increased its stake in Seagate Technology by 6.4% in the 4th quarter. Westside Investment Management Inc. now owns 3,325 shares of the data storage provider’s stock worth $206,000 after buying an additional 200 shares during the period. Finally, Carmichael Hill & Associates Inc. increased its position in Seagate Technology by 33.3% during the 4th quarter. Carmichael Hill & Associates Inc. now owns 800 shares of the data storage provider’s stock valued at $50,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 82.51% of the company’s stock.

Shares of Seagate Technology stock opened at $78.96 on Thursday. The firm’s fifty day simple moving average is $74.80 and its 200-day simple moving average is $62.37. Seagate Technology plc has a 12 month low of $43.53 and a 12 month high of $79.86. The stock has a market capitalization of $18.69 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 11.24 and a beta of 1.22. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.51 and a quick ratio of 1.01.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Wednesday, January 20th. The data storage provider reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.16. Seagate Technology had a return on equity of 65.10% and a net margin of 10.02%. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period last year, the company earned $1.35 earnings per share. Analysts anticipate that Seagate Technology plc will post 4.4 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 7th. Stockholders of record on Wednesday, March 24th were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Tuesday, March 23rd. Seagate Technology’s dividend payout ratio (DPR) is 58.64%.

In other Seagate Technology news, Director Holdings L.P. Valueact sold 132,771 shares of the firm’s stock in a transaction dated Wednesday, January 13th. The shares were sold at an average price of $60.01, for a total transaction of $7,967,587.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Valueact Capital Master Fund, sold 617,691 shares of Seagate Technology stock in a transaction dated Friday, January 8th. The stock was sold at an average price of $60.25, for a total transaction of $37,215,882.75. In the last 90 days, insiders sold 1,636,975 shares of company stock worth $100,101,615. Insiders own 0.97% of the company’s stock.

Several brokerages have issued reports on STX. Summit Insights raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Friday, January 22nd. Zacks Investment Research lowered shares of Seagate Technology from a “buy” rating to a “hold” rating and set a $77.00 target price on the stock. in a research note on Monday, February 22nd. Bank of America upgraded Seagate Technology from an “underperform” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Thursday, February 18th. The Goldman Sachs Group boosted their price target on shares of Seagate Technology from $47.00 to $52.00 and gave the company a “sell” rating in a research report on Monday, December 14th. Finally, Craig Hallum lifted their target price on shares of Seagate Technology from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, February 25th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $70.46.

About Seagate Technology

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company offers hard disk and solid state drives, including serial advanced technology attachment, serial attached SCSI, and non-volatile memory express products; solid state hybrid drives; and storage subsystems.

Further Reading: Debt-To-Equity Ratio

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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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