Berkshire Hathaway Inc Acquires 342,133 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) Stock

Sirius XM Holdings Inc. (NASDAQ:SIRI) major shareholder Berkshire Hathaway Inc bought 342,133 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were bought at an average cost of $26.99 per share, for a total transaction of $9,234,169.67. Following the completion of the acquisition, the insider now owns 109,061,221 shares of the company’s stock, valued at $2,943,562,354.79. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock 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 acquired 175,569 shares of Sirius XM stock. The shares were purchased 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 bought 1,259,259 shares of Sirius XM stock. The stock was purchased at an average price of $24.95 per share, with a total value of $31,418,512.05.
• On Wednesday, October 9th, Berkshire Hathaway Inc purchased 869,800 shares of Sirius XM stock. The shares were purchased at an average price of $23.55 per share, for a total transaction of $20,483,790.00.

Sirius XM Stock Up 1.9 %

Shares of NASDAQ SIRI opened at $27.61 on Friday. The firm has a 50-day simple moving average of $27.27 and a 200-day simple moving average of $29.82. The stock has a market capitalization of $106.21 billion, a price-to-earnings ratio of 83.67, a price-to-earnings-growth ratio of 0.73 and a beta of 1.07. 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 released its quarterly earnings data on Thursday, August 1st. The company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates 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 net margin of 14.56% and a negative return on equity of 52.15%. As a group, equities research analysts expect that Sirius XM Holdings Inc. will post 3.25 EPS for the current year.

Sirius XM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a dividend of $0.266 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.06 dividend on an annualized basis and a yield of 3.85%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. Sirius XM’s payout ratio is 321.21%.

Institutional Trading of Sirius XM

Several large investors have recently added to or reduced their stakes in SIRI. Vanguard Group Inc. boosted its position in shares of Sirius XM by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock valued at $299,111,000 after acquiring an additional 363,551 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Sirius XM in the 2nd quarter valued at approximately $12,858,000. Dimensional Fund Advisors LP increased its holdings in shares of Sirius XM by 8.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock worth $12,260,000 after buying an additional 353,860 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Sirius XM by 14.5% during the 2nd quarter. AQR Capital Management LLC now owns 3,866,444 shares of the company’s stock valued at $10,807,000 after buying an additional 490,761 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in Sirius XM by 25.8% in the first quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock valued at $14,542,000 after acquiring an additional 768,570 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 equities research analysts have recently issued reports on SIRI shares. Citigroup increased their target price on shares of Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research note on Thursday, September 26th. The Goldman Sachs Group lowered their price target on Sirius XM from $32.50 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 17th. Barrington Research restated an “outperform” rating and issued a $47.50 price objective on shares of Sirius XM in a research report on Monday, July 15th. JPMorgan Chase & Co. assumed coverage on Sirius XM in a research note on Wednesday, October 9th. They set an “underweight” rating and a $20.00 target price for the company. Finally, Morgan Stanley reissued an “underweight” rating and issued a $23.00 price target on shares of Sirius XM in a research note on Tuesday, September 24th. Four investment 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 data from MarketBeat.com, Sirius XM currently has an average rating of “Hold” and a consensus 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.