Sirius XM Holdings Inc. (NASDAQ:SIRI) Major Shareholder Berkshire Hathaway Inc Purchases 175,569 Shares

Sirius XM Holdings Inc. (NASDAQ:SIRI) major shareholder Berkshire Hathaway Inc purchased 175,569 shares of Sirius XM stock in a transaction that occurred on Friday, October 18th. The stock was acquired at an average price of $27.43 per share, with a total value of $4,815,857.67. Following the transaction, the insider now owns 110,276,790 shares in the company, valued at $3,024,892,349.70. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Berkshire Hathaway Inc also recently made the following trade(s):

• On Wednesday, October 16th, Berkshire Hathaway Inc purchased 342,133 shares of Sirius XM stock. The stock was acquired at an average price of $26.99 per share, with a total value of $9,234,169.67.
• On Friday, October 11th, Berkshire Hathaway Inc purchased 1,259,259 shares of Sirius XM stock. The stock was acquired at an average price of $24.95 per share, with a total value of $31,418,512.05.
• On Wednesday, October 9th, Berkshire Hathaway Inc purchased 869,800 shares of Sirius XM stock. The stock was acquired at an average price of $23.55 per share, with a total value of $20,483,790.00.

Sirius XM Trading Up 1.9 %

Shares of SIRI traded up $0.51 during trading hours on Friday, reaching $27.61. The company had a trading volume of 5,955,222 shares, compared to its average volume of 3,304,396. The firm has a 50 day simple moving average of $27.35 and a 200-day simple moving average of $29.95. The company has a market capitalization of $106.21 billion, a price-to-earnings ratio of 83.67, a PEG ratio of 0.73 and a beta of 1.07. Sirius XM Holdings Inc. has a 12-month low of $22.18 and a 12-month high of $57.80.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. Sell-side analysts forecast that Sirius XM Holdings Inc. will post 3.25 earnings per share for the current year.

Sirius XM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a $0.266 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.85%. This is a boost from Sirius XM’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Friday, August 9th. Sirius XM’s dividend payout ratio is presently 321.21%.

Institutional Investors Weigh In On Sirius XM

Large investors have recently added to or reduced their stakes in the business. Trium Capital LLP acquired a new stake in Sirius XM in the 3rd quarter valued at about $50,000. Blue Trust Inc. grew its stake in Sirius XM by 113.6% in the 3rd quarter. Blue Trust Inc. now owns 3,644 shares of the company’s stock valued at $86,000 after acquiring an additional 1,938 shares during the last quarter. Bfsg LLC grew its stake in Sirius XM by 35.3% in the 3rd quarter. Bfsg LLC now owns 4,735 shares of the company’s stock valued at $112,000 after acquiring an additional 1,235 shares during the last quarter. First PREMIER Bank acquired a new stake in shares of Sirius XM during the 1st quarter worth about $31,000. Finally, Keynote Financial Services LLC acquired a new stake in shares of Sirius XM during the 1st quarter worth about $39,000. 10.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Citigroup upped their price target on shares of Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research report on Thursday, September 26th. Evercore ISI upgraded shares of Sirius XM from an “underperform” rating to an “in-line” rating and cut their price objective for the stock from $42.50 to $32.50 in a research report on Monday, June 24th. JPMorgan Chase & Co. started coverage on shares of Sirius XM in a research report on Wednesday, October 9th. They set an “underweight” rating and a $20.00 price objective for the company. Morgan Stanley restated an “underweight” rating and set a $23.00 price objective on shares of Sirius XM in a research report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $31.25.

Sirius XM Company Profile

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company’s Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.