Allianz Asset Management GmbH lowered its position in Plantronics Inc (NYSE:PLT) by 10.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,590 shares of the technology company’s stock after selling 1,390 shares during the period. Allianz Asset Management GmbH’s holdings in Plantronics were worth $513,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Plantronics by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 2,762,404 shares of the technology company’s stock worth $144,502,000 after buying an additional 34,223 shares during the last quarter. State Street Corp grew its position in shares of Plantronics by 3.2% in the 2nd quarter. State Street Corp now owns 1,221,003 shares of the technology company’s stock worth $63,875,000 after buying an additional 38,421 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Plantronics by 2.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 858,695 shares of the technology company’s stock worth $37,972,000 after buying an additional 18,134 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Plantronics by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 795,627 shares of the technology company’s stock worth $41,619,000 after buying an additional 15,096 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Plantronics by 0.9% in the 2nd quarter. Northern Trust Corp now owns 680,739 shares of the technology company’s stock worth $35,609,000 after buying an additional 5,984 shares during the last quarter. 90.89% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on PLT. TheStreet raised shares of Plantronics from a “c+” rating to a “b” rating in a research report on Friday, November 24th. Roth Capital set a $55.00 price objective on shares of Plantronics and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Finally, Zacks Investment Research raised shares of Plantronics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $57.33.
The business also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Monday, November 20th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Friday, November 17th. Plantronics’s dividend payout ratio (DPR) is presently 24.69%.
In related news, CEO Joseph B. Burton sold 3,188 shares of Plantronics stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $51.87, for a total value of $165,361.56. Following the completion of the sale, the chief executive officer now directly owns 92,373 shares in the company, valued at approximately $4,791,387.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Hart sold 21,083 shares of Plantronics stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $52.56, for a total transaction of $1,108,122.48. Following the completion of the sale, the director now owns 11,094 shares of the company’s stock, valued at $583,100.64. The disclosure for this sale can be found here. Insiders sold a total of 27,145 shares of company stock valued at $1,420,777 over the last quarter. 3.20% of the stock is owned by company insiders.
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Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.
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