Geode Capital Management LLC Has $88.95 Million Stock Holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Geode Capital Management LLC lessened its stake in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 73.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,760,020 shares of the company's stock after selling 10,200,640 shares during the quarter. Geode Capital Management LLC owned about 1.11% of Sirius XM worth $88,946,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC acquired a new stake in shares of Sirius XM in the 3rd quarter valued at $2,367,000. Savant Capital LLC acquired a new stake in Sirius XM in the second quarter valued at about $613,000. FMR LLC boosted its stake in Sirius XM by 472.6% in the third quarter. FMR LLC now owns 497,514 shares of the company's stock valued at $11,766,000 after buying an additional 410,621 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Sirius XM in the third quarter valued at about $921,000. Finally, Strategic Financial Concepts LLC acquired a new position in Sirius XM during the second quarter worth about $36,000. Institutional investors own 10.69% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SIRI shares. Citigroup lifted their price target on shares of Sirius XM from $2.80 to $21.00 and gave the company a "sell" rating in a report on Thursday, September 26th. Benchmark reaffirmed a "buy" rating and set a $43.00 target price on shares of Sirius XM in a research note on Tuesday, October 15th. Bank of America reiterated an "underperform" rating and issued a $23.00 price target on shares of Sirius XM in a research note on Thursday, October 24th. Morgan Stanley restated an "underweight" rating and set a $23.00 price objective on shares of Sirius XM in a research report on Tuesday, September 24th. Finally, Wells Fargo & Company dropped their target price on Sirius XM from $22.00 to $16.00 and set an "underweight" rating for the company in a research report on Thursday. Six analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $27.58.

Insider Activity at Sirius XM

In other Sirius XM news, major shareholder Berkshire Hathaway Inc purchased 175,569 shares of the business's stock in a transaction on Friday, October 18th. The shares were purchased at an average cost of $27.43 per share, for a total transaction of $4,815,857.67. Following the acquisition, the insider now owns 110,276,790 shares of the company's stock, valued at approximately $3,024,892,349.70. This represents a 0.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 2,646,761 shares of company stock worth $65,952,329 over the last quarter. Company insiders own 0.79% of the company's stock.

Sirius XM Trading Up 12.1 %

NASDAQ:SIRI traded up $2.50 on Friday, reaching $23.08. 14,517,520 shares of the stock traded hands, compared to its average volume of 3,803,394. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. Sirius XM Holdings Inc. has a 1-year low of $20.47 and a 1-year high of $56.80. The company's 50 day moving average is $26.16 and its 200-day moving average is $28.36. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of -3.64 and a beta of 1.03.

Sirius XM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend was Tuesday, November 5th. This is an increase from Sirius XM's previous quarterly dividend of $0.27. Sirius XM's dividend payout ratio (DPR) is currently -17.03%.

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.