Berkshire Hathaway Inc Purchases 1,259,259 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) Stock

Sirius XM Holdings Inc. (NASDAQ:SIRI) major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were bought at an average cost of $24.95 per share, for a total transaction of $31,418,512.05. Following the purchase, the insider now owns 108,719,088 shares of the company’s stock, valued at approximately $2,712,541,245.60. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more 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 9th, Berkshire Hathaway Inc acquired 869,800 shares of Sirius XM stock. The shares were acquired at an average price of $23.55 per share, for a total transaction of $20,483,790.00.

Sirius XM Stock Performance

Shares of Sirius XM stock traded up $0.63 on Friday, reaching $24.93. 5,400,373 shares of the company were exchanged, compared to its average volume of 3,137,988. Sirius XM Holdings Inc. has a 1-year low of $22.18 and a 1-year high of $57.80. The firm has a market cap of $9.60 billion, a price-to-earnings ratio of 7.58, a P/E/G ratio of 0.73 and a beta of 1.07. The company’s 50-day moving average is $27.78 and its two-hundred day moving average is $30.37.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. As a group, 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 company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a dividend of $0.266 per share. The ex-dividend date was Friday, August 9th. This represents a $1.06 annualized dividend and a yield of 4.27%. This is a boost from Sirius XM’s previous quarterly dividend of $0.03. Sirius XM’s dividend payout ratio (DPR) is currently 32.12%.

Institutional Investors Weigh In On Sirius XM

Hedge funds have recently modified their holdings of the stock. Berkshire Hathaway Inc raised its position in Sirius XM by 315.6% during the fourth quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock valued at $220,130,000 after buying an additional 30,559,834 shares during the period. Point72 Asset Management L.P. purchased a new position in Sirius XM during the second quarter valued at approximately $12,858,000. Cubist Systematic Strategies LLC acquired a new position in Sirius XM in the 2nd quarter valued at approximately $5,192,000. SG Americas Securities LLC lifted its position in Sirius XM by 516.5% in the 1st quarter. SG Americas Securities LLC now owns 1,601,048 shares of the company’s stock worth $6,212,000 after buying an additional 1,341,352 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Sirius XM during the 2nd quarter valued at $3,616,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on SIRI shares. Guggenheim raised Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Wednesday, September 18th. StockNews.com started coverage on shares of Sirius XM in a research note on Friday, October 4th. They set a “hold” rating on the stock. Evercore ISI raised Sirius XM from an “underperform” rating to an “in-line” rating and cut their target price for the stock from $42.50 to $32.50 in a research report on Monday, June 24th. Citigroup boosted their target price on Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a report on Thursday, September 26th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $23.00 price target on shares of Sirius XM in a research report on Tuesday, September 24th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.