Sirius XM Holdings Inc. (NASDAQ:SIRI) Plans Quarterly Dividend of $0.27

Sirius XM Holdings Inc. (NASDAQ:SIRI) announced a quarterly dividend on Tuesday, October 22nd, RTT News reports. Stockholders of record on Tuesday, November 5th will be given a dividend of 0.27 per share on Thursday, November 21st. This represents a $1.08 annualized dividend and a dividend yield of 3.97%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27.

Sirius XM has raised its dividend payment by an average of 22.0% annually over the last three years and has raised its dividend every year for the last 6 years. Sirius XM has a dividend payout ratio of 3.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Sirius XM to earn $3.39 per share next year, which means the company should continue to be able to cover its $0.11 annual dividend with an expected future payout ratio of 3.2%.

Sirius XM Trading Up 0.1 %

Sirius XM stock traded up $0.03 during trading hours on Tuesday, reaching $27.21. 5,029,619 shares of the company were exchanged, compared to its average volume of 3,332,857. Sirius XM has a 12 month low of $22.18 and a 12 month high of $57.80. The firm has a market cap of $104.67 billion, a price-to-earnings ratio of 82.85, a PEG ratio of 0.73 and a beta of 1.07. The stock has a 50-day moving average of $27.22 and a 200 day moving average of $29.72.

Sirius XM (NASDAQ:SIRI) last posted its 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 for the quarter, compared to analyst estimates of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. As a group, research analysts forecast that Sirius XM will post 3.25 EPS for the current year.

Insiders Place Their Bets

In other Sirius XM news, major shareholder Berkshire Hathaway Inc purchased 175,569 shares of the business’s stock in a transaction on Friday, October 18th. The shares were purchased at an average cost of $27.43 per share, with a total value of $4,815,857.67. Following the transaction, the insider now directly owns 110,276,790 shares of the company’s stock, valued at $3,024,892,349.70. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Berkshire Hathaway Inc purchased 175,569 shares of the business’s stock in a transaction 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. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the completion of the transaction, the insider now directly owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 2,646,761 shares of company stock valued at $65,952,329 in the last quarter. 0.79% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on SIRI. The Goldman Sachs Group dropped their price objective on shares of Sirius XM from $32.50 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, September 17th. StockNews.com started coverage on Sirius XM in a research report on Sunday. They issued a “hold” rating for the company. Rosenblatt Securities boosted their price objective on Sirius XM from $3.40 to $28.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Morgan Stanley reissued an “underweight” rating and issued a $23.00 price target on shares of Sirius XM in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. started coverage on shares of Sirius XM in a report on Wednesday, October 9th. They set an “underweight” rating and a $20.00 price objective for the company. Four 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’s stock. Based on data from MarketBeat.com, Sirius XM currently has a consensus 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.