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 acquired 175,569 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was purchased at an average price of $27.43 per share, for a total transaction of $4,815,857.67. Following the completion of the purchase, the insider now directly owns 110,276,790 shares in the company, valued at $3,024,892,349.70. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, October 16th, Berkshire Hathaway Inc bought 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 bought 1,259,259 shares of Sirius XM stock. The stock was acquired at an average price of $24.95 per share, for a total transaction of $31,418,512.05.
• On Wednesday, October 9th, Berkshire Hathaway Inc acquired 869,800 shares of Sirius XM stock. The shares were acquired at an average cost of $23.55 per share, with a total value of $20,483,790.00.

Sirius XM Stock Performance

Shares of NASDAQ:SIRI opened at $27.61 on Friday. The firm has a market capitalization of $106.21 billion, a P/E ratio of 83.67, a P/E/G ratio of 0.73 and a beta of 1.07. The stock has a 50 day moving average price of $27.27 and a 200-day moving average price of $29.87. Sirius XM Holdings Inc. has a 52-week low of $22.18 and a 52-week high of $57.80.

Sirius XM (NASDAQ:SIRI) last issued 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 company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. On average, equities analysts forecast that Sirius XM Holdings Inc. will post 3.25 EPS for the current fiscal year.

Sirius XM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a dividend of $0.266 per share. The ex-dividend date was Friday, August 9th. This is an increase from Sirius XM’s previous quarterly dividend of $0.03. This represents a $1.06 annualized dividend and a dividend yield of 3.85%. Sirius XM’s dividend payout ratio (DPR) is presently 321.21%.

Hedge Funds Weigh In On Sirius XM

A number of hedge funds have recently bought and sold shares of SIRI. Vanguard Group Inc. grew its holdings in shares of Sirius XM by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock valued at $299,111,000 after buying an additional 363,551 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Sirius XM in the 2nd quarter worth $12,858,000. Dimensional Fund Advisors LP raised its stake in shares of Sirius XM by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock worth $12,260,000 after purchasing an additional 353,860 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Sirius XM by 14.5% during the second quarter. AQR Capital Management LLC now owns 3,866,444 shares of the company’s stock valued at $10,807,000 after purchasing an additional 490,761 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in Sirius XM by 25.8% during the first quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock valued at $14,542,000 after purchasing an additional 768,570 shares during the period. Institutional investors own 10.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SIRI. Deutsche Bank Aktiengesellschaft reduced their price objective on Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. StockNews.com started coverage on shares of Sirius XM in a research note on Saturday, October 12th. They issued a “hold” rating for the company. The Goldman Sachs Group cut their price target on shares of Sirius XM from $32.50 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, September 17th. Citigroup lifted their price objective on Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a report on Thursday, September 26th. Finally, Rosenblatt Securities increased their price objective on Sirius XM from $3.40 to $28.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Sirius XM currently has a consensus rating of “Hold” and an average price target of $31.25.

About Sirius XM

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.