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

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

Sirius XM Stock Performance

Shares of SIRI opened at $24.93 on Friday. The stock has a market cap of $9.60 billion, a PE ratio of 7.55, a price-to-earnings-growth ratio of 0.73 and a beta of 1.07. Sirius XM Holdings Inc. has a fifty-two week low of $22.18 and a fifty-two week high of $57.80. The firm’s 50-day simple moving average is $27.66 and its two-hundred day simple moving average is $30.22.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $2.18 billion for 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%. Equities research analysts predict that Sirius XM Holdings Inc. will post 3.25 EPS for the current year.

Sirius XM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a $0.266 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Sirius XM’s previous quarterly dividend of $0.03. Sirius XM’s dividend payout ratio is 32.12%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SIRI. Berkshire Hathaway Inc lifted its stake in shares of Sirius XM by 315.6% in the fourth quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock worth $220,130,000 after buying an additional 30,559,834 shares in the last quarter. V Square Quantitative Management LLC lifted its position in Sirius XM by 66.6% during the fourth quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock valued at $44,000 after purchasing an additional 3,194 shares during the period. Vanguard Group Inc. lifted its position in 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 purchasing an additional 363,551 shares during the period. Sivia Capital Partners LLC bought a new position in Sirius XM during the fourth quarter valued at approximately $77,000. Finally, HighPoint Advisor Group LLC bought a new position in Sirius XM in the fourth quarter worth approximately $93,000. Institutional investors own 10.69% of the company’s stock.

Wall Street Analyst Weigh In

SIRI has been the topic of a number of analyst reports. Guggenheim upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Wednesday, September 18th. The Goldman Sachs Group decreased their price objective on shares of Sirius XM from $32.50 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 17th. Citigroup boosted their price objective 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. Rosenblatt Securities boosted their price objective on shares of Sirius XM from $3.40 to $28.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Finally, Evercore ISI upgraded shares of Sirius XM from an “underperform” rating to an “in-line” rating and decreased their price objective for the company from $42.50 to $32.50 in a research report on Monday, June 24th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.