Sirius XM Holdings Inc. (NASDAQ:SIRI) Major Shareholder Berkshire Hathaway Inc Acquires 175,569 Shares

Sirius XM Holdings Inc. (NASDAQ:SIRI) major shareholder Berkshire Hathaway Inc purchased 175,569 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were purchased at an average price of $27.43 per share, for a total transaction of $4,815,857.67. Following the transaction, the insider now owns 110,276,790 shares of the company’s stock, valued at $3,024,892,349.70. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more 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 Wednesday, October 16th, Berkshire Hathaway Inc purchased 342,133 shares of Sirius XM stock. The shares were purchased at an average price of $26.99 per share, for a total transaction of $9,234,169.67.
• On Friday, October 11th, Berkshire Hathaway Inc bought 1,259,259 shares of Sirius XM stock. The shares were purchased 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 bought 869,800 shares of Sirius XM stock. The shares were purchased at an average cost of $23.55 per share, for a total transaction of $20,483,790.00.

Sirius XM Trading Up 1.9 %

SIRI traded up $0.51 during trading hours on Friday, hitting $27.61. 5,955,222 shares of the company’s stock were exchanged, compared to its average volume of 3,304,396. Sirius XM Holdings Inc. has a 12-month low of $22.18 and a 12-month high of $57.80. The firm has a 50 day moving average of $27.35 and a 200 day moving average of $29.95. The firm has a market cap of $106.21 billion, a P/E ratio of 83.67, a price-to-earnings-growth ratio of 0.73 and a beta of 1.07.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. As a group, research analysts expect that Sirius XM Holdings Inc. will post 3.25 EPS for the current fiscal year.

Sirius XM Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp acquired a new position in shares of Sirius XM in the 1st quarter valued at $2,036,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Sirius XM by 9.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,124,339 shares of the company’s stock valued at $4,325,000 after buying an additional 101,713 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Sirius XM by 1,205.4% in the 1st quarter. Bessemer Group Inc. now owns 452,570 shares of the company’s stock valued at $1,756,000 after buying an additional 417,900 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Sirius XM by 1.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 579,793 shares of the company’s stock valued at $2,250,000 after buying an additional 6,231 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 363,551 shares in the last quarter. Institutional investors and hedge funds own 10.69% of the company’s stock.

Wall Street Analysts Forecast Growth

SIRI has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating and set a $43.00 target price on shares of Sirius XM in a research note on Tuesday. Citigroup boosted their price target on shares of Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research note on Thursday, September 26th. Evercore ISI raised shares of Sirius XM from an “underperform” rating to an “in-line” rating and reduced their price target for the company from $42.50 to $32.50 in a research note on Monday, June 24th. JPMorgan Chase & Co. started coverage on shares of Sirius XM in a research note on Wednesday, October 9th. They issued an “underweight” rating and a $20.00 price target on the stock. Finally, Rosenblatt Securities boosted their price target on shares of Sirius XM from $3.40 to $28.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. 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. According to MarketBeat.com, the company presently 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.