Sirius XM Holdings Inc. (NASDAQ:SIRI) Major Shareholder Berkshire Hathaway Inc Buys 1,259,259 Shares

Sirius XM Holdings Inc. (NASDAQ:SIRI) major shareholder Berkshire Hathaway Inc bought 1,259,259 shares of Sirius XM stock in a transaction that occurred on Friday, October 11th. The stock was bought at an average price of $24.95 per share, with a total value of $31,418,512.05. Following the completion of the acquisition, the insider now owns 108,719,088 shares in the company, valued at approximately $2,712,541,245.60. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% 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 Wednesday, October 9th, Berkshire Hathaway Inc purchased 869,800 shares of Sirius XM stock. The stock was purchased at an average cost of $23.55 per share, for a total transaction of $20,483,790.00.

Sirius XM Price Performance

Shares of SIRI stock opened at $24.93 on Friday. The stock has a market cap of $9.60 billion, a P/E ratio of 7.55, a price-to-earnings-growth ratio of 0.73 and a beta of 1.07. The stock has a fifty day moving average price of $27.66 and a 200 day moving average price of $30.27. Sirius XM Holdings Inc. has a one year low of $22.18 and a one year 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, hitting 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%. Equities research analysts anticipate 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. Stockholders of record on Friday, August 9th were paid a $0.266 dividend. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. This represents a $1.06 annualized dividend and a dividend yield of 4.27%. The ex-dividend date was Friday, August 9th. Sirius XM’s dividend payout ratio is currently 32.12%.

Hedge Funds Weigh In On Sirius XM

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Trium Capital LLP acquired a new position in Sirius XM during the third quarter worth $50,000. V Square Quantitative Management LLC lifted its holdings in Sirius XM by 66.6% during the 4th 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 last quarter. First PREMIER Bank acquired a new position in Sirius XM in the first quarter valued at about $31,000. Keynote Financial Services LLC bought a new stake in Sirius XM during the first quarter worth about $39,000. Finally, Mather Group LLC. acquired a new stake in shares of Sirius XM during the second quarter worth approximately $28,000. Institutional investors own 10.69% of the company’s stock.

Analyst Ratings Changes

SIRI has been the topic of a number of research analyst reports. Morgan Stanley reiterated an “underweight” rating and issued a $23.00 target price on shares of Sirius XM in a research note on Tuesday, September 24th. JPMorgan Chase & Co. started coverage on Sirius XM in a research report on Wednesday. They issued an “underweight” rating and a $20.00 price target on the stock. Citigroup boosted their price objective on Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research report on Thursday, September 26th. Rosenblatt Securities lifted their price target on Sirius XM from $3.40 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Finally, Guggenheim upgraded Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a report on Wednesday, September 18th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Sirius XM presently 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.