Geode Capital Management LLC reduced its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 73.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,760,020 shares of the company's stock after selling 10,200,640 shares during the period. Geode Capital Management LLC owned about 1.11% of Sirius XM worth $88,946,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Aequim Alternative Investments LP bought a new stake in Sirius XM during the third quarter worth $6,932,000. Guardian Wealth Management Inc. purchased a new position in Sirius XM during the 3rd quarter worth $686,000. Northeast Financial Consultants Inc bought a new stake in shares of Sirius XM in the 3rd quarter worth $358,000. XTX Topco Ltd purchased a new stake in shares of Sirius XM in the third quarter valued at about $1,234,000. Finally, Zacks Investment Management bought a new position in shares of Sirius XM during the third quarter valued at about $3,048,000. 10.69% of the stock is owned by hedge funds and other institutional investors.
In related news, major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the stock in a transaction on Wednesday, October 9th. The stock was acquired at an average cost of $23.55 per share, for a total transaction of $20,483,790.00. Following the completion of the acquisition, the insider now directly owns 106,024,829 shares of the company's stock, valued at approximately $2,496,884,722.95. This represents a 0.83 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 2,646,761 shares of company stock valued at $65,952,329 over the last three months. 0.79% of the stock is owned by corporate insiders.
A number of brokerages have issued reports on SIRI. Barrington Research reduced their price objective on shares of Sirius XM from $40.00 to $30.00 and set an "outperform" rating for the company in a research report on Friday, December 13th. StockNews.com assumed coverage on Sirius XM in a research report on Wednesday, November 13th. They set a "sell" rating for the company. Benchmark reiterated a "buy" rating and set a $43.00 price target on shares of Sirius XM in a report on Tuesday, October 15th. Citigroup upped their price objective on Sirius XM from $2.80 to $21.00 and gave the company a "sell" rating in a research note on Thursday, September 26th. Finally, Rosenblatt Securities increased their target price on shares of Sirius XM from $28.00 to $29.00 and gave the company a "neutral" rating in a research report on Wednesday, December 11th. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $27.58.
Check Out Our Latest Research Report on Sirius XM
Sirius XM stock opened at $20.58 on Friday. The business has a 50-day simple moving average of $26.20 and a 200 day simple moving average of $28.39. Sirius XM Holdings Inc. has a 52 week low of $20.47 and a 52 week high of $56.80. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of -3.25 and a beta of 1.03. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 5.25%. This is a boost from Sirius XM's previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, November 5th. Sirius XM's dividend payout ratio is -17.03%.
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.
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