Sirius XM Holdings Inc. (NASDAQ:SIRI) Major Shareholder Purchases $9,234,169.67 in Stock

Sirius XM Holdings Inc. (NASDAQ:SIRI) major shareholder Berkshire Hathaway Inc bought 342,133 shares of Sirius XM stock in a transaction that occurred on Wednesday, October 16th. The stock was bought at an average price of $26.99 per share, for a total transaction of $9,234,169.67. Following the completion of the acquisition, the insider now directly owns 109,061,221 shares of the company’s stock, valued at $2,943,562,354.79. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own 10% or more 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 Friday, October 18th, Berkshire Hathaway Inc purchased 175,569 shares of Sirius XM stock. The stock was acquired at an average cost of $27.43 per share, for a total transaction of $4,815,857.67.
• On Friday, October 11th, Berkshire Hathaway Inc purchased 1,259,259 shares of Sirius XM stock. The stock was acquired at an average cost of $24.95 per share, for a total transaction 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 cost of $23.55 per share, for a total transaction of $20,483,790.00.

Sirius XM Stock Performance

NASDAQ:SIRI traded up $0.51 during trading on Friday, reaching $27.61. The company’s stock had a trading volume of 5,955,222 shares, compared to its average volume of 3,304,396. The firm has a market cap of $106.21 billion, a price-to-earnings ratio of 83.76, a price-to-earnings-growth ratio of 0.73 and a beta of 1.07. The firm has a 50 day moving average of $27.35 and a 200-day moving average of $29.95. 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 posted its quarterly earnings results on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. Equities research analysts forecast that Sirius XM Holdings Inc. will post 3.25 earnings per share 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 given a dividend of $0.266 per share. The ex-dividend date was Friday, August 9th. This is a boost 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 is currently 321.21%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SIRI. Vanguard Group Inc. boosted its holdings in Sirius XM by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock valued at $299,111,000 after purchasing an additional 363,551 shares during the period. HighPoint Advisor Group LLC bought a new position in Sirius XM in the 4th quarter valued at $93,000. First PREMIER Bank bought a new position in Sirius XM in the 1st quarter valued at $31,000. Global Assets Advisory LLC bought a new position in Sirius XM in the 1st quarter valued at $45,000. Finally, Gilman Hill Asset Management LLC boosted its holdings in Sirius XM by 63.2% in the 1st quarter. Gilman Hill Asset Management LLC now owns 32,279 shares of the company’s stock valued at $125,000 after purchasing an additional 12,500 shares during the period. 10.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their target price 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. Guggenheim raised Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Wednesday, September 18th. StockNews.com assumed coverage on Sirius XM in a research report on Saturday, October 12th. They set a “hold” rating on the stock. Rosenblatt Securities increased their price target on Sirius XM from $3.40 to $28.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $23.00 price target on shares of Sirius XM in a research report on Tuesday, September 24th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sirius XM presently 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.