Central Pacific Bank Trust Division Invests $104,000 in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Central Pacific Bank Trust Division purchased a new stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,579 shares of the company’s stock, valued at approximately $104,000.

Other hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its stake in shares of Sirius XM by 13.7% in the second quarter. Commonwealth Equity Services LLC now owns 895,927 shares of the company’s stock worth $2,535,000 after purchasing an additional 108,071 shares during the last quarter. Van ECK Associates Corp increased its holdings in Sirius XM by 13.8% in the 2nd quarter. Van ECK Associates Corp now owns 597,185 shares of the company’s stock worth $1,690,000 after buying an additional 72,528 shares in the last quarter. Savant Capital LLC purchased a new position in Sirius XM in the 2nd quarter worth about $613,000. Strategic Financial Concepts LLC bought a new position in Sirius XM during the 2nd quarter valued at about $36,000. Finally, Choreo LLC boosted its holdings in shares of Sirius XM by 33.8% during the 2nd quarter. Choreo LLC now owns 25,438 shares of the company’s stock valued at $73,000 after acquiring an additional 6,421 shares during the last quarter. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on SIRI. Bank of America reissued an “underperform” rating and set a $23.00 price objective on shares of Sirius XM in a report on Thursday, October 24th. Pivotal Research lowered their price target on Sirius XM from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, November 1st. StockNews.com assumed coverage on Sirius XM in a research note on Wednesday, November 13th. They issued a “sell” rating on the stock. Rosenblatt Securities increased their target price on Sirius XM from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Finally, Guggenheim reissued a “buy” rating and issued a $30.00 target price on shares of Sirius XM in a research report on Wednesday, December 11th. Six research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $27.58.

Insider Activity at Sirius XM

In related news, major shareholder Berkshire Hathaway Inc bought 869,800 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was purchased at an average price of $23.55 per share, for a total transaction of $20,483,790.00. Following the completion of the transaction, the insider now owns 106,024,829 shares in the company, valued at $2,496,884,722.95. The trade was a 0.83 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have acquired 2,646,761 shares of company stock valued at $65,952,329. 0.79% of the stock is owned by company insiders.

Sirius XM Trading Up 1.2 %

Shares of Sirius XM stock opened at $22.36 on Friday. Sirius XM Holdings Inc. has a fifty-two week low of $20.47 and a fifty-two week high of $55.50. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $7.58 billion, a P/E ratio of -3.53 and a beta of 1.03. The company has a fifty day moving average of $25.36 and a 200 day moving average of $28.16.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.08 annualized dividend and a dividend yield of 4.83%. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s dividend payout ratio (DPR) is currently -17.03%.

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.