Brokerages Set Sirius XM Holdings Inc. (NASDAQ:SIRI) Price Target at $28.96

Sirius XM Holdings Inc. (NASDAQ:SIRI - Get Free Report) has received a consensus rating of "Reduce" from the fourteen research firms that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $28.96.

SIRI has been the topic of several recent research reports. Pivotal Research decreased their price objective on shares of Sirius XM from $40.00 to $37.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Rosenblatt Securities reiterated a "neutral" rating and issued a $28.00 price target on shares of Sirius XM in a research report on Monday, November 4th. JPMorgan Chase & Co. increased their target price on Sirius XM from $20.00 to $21.00 and gave the company an "underweight" rating in a report on Thursday. Benchmark reissued a "buy" rating and set a $43.00 price target on shares of Sirius XM in a research report on Tuesday, October 15th. Finally, Guggenheim downgraded Sirius XM from a "strong-buy" rating to a "hold" rating in a research report on Wednesday.

Insider Transactions at Sirius XM

In other news, major shareholder Berkshire Hathaway Inc purchased 1,259,259 shares of the stock in a transaction on Friday, October 11th. The stock was purchased at an average price of $24.95 per share, with a total value of $31,418,512.05. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought a total of 2,646,761 shares of company stock worth $65,952,329 in the last ninety days. Insiders own 0.79% of the company's stock.

Institutional Investors Weigh In On Sirius XM

Several institutional investors have recently bought and sold shares of SIRI. Coston McIsaac & Partners increased its holdings in Sirius XM by 113.5% in the 3rd quarter. Coston McIsaac & Partners now owns 1,174 shares of the company's stock valued at $27,000 after purchasing an additional 624 shares in the last quarter. TCTC Holdings LLC acquired a new stake in shares of Sirius XM in the third quarter valued at about $29,000. Bfsg LLC raised its holdings in shares of Sirius XM by 35.3% during the 3rd quarter. Bfsg LLC now owns 4,735 shares of the company's stock valued at $112,000 after buying an additional 1,235 shares during the period. Princeton Global Asset Management LLC lifted its position in Sirius XM by 2,683.7% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company's stock worth $32,000 after acquiring an additional 1,315 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Sirius XM by 113.6% in the 3rd quarter. Blue Trust Inc. now owns 3,644 shares of the company's stock worth $86,000 after acquiring an additional 1,938 shares during the period. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Sirius XM Price Performance

Shares of SIRI stock traded up $0.01 during midday trading on Friday, reaching $26.13. 3,906,654 shares of the company traded hands, compared to its average volume of 7,342,619. The firm's 50 day simple moving average is $25.93 and its two-hundred day simple moving average is $29.21. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.43. The firm has a market cap of $8.86 billion, a PE ratio of -4.12 and a beta of 1.04. Sirius XM has a 1-year low of $22.18 and a 1-year high of $57.80.

Sirius XM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Tuesday, November 5th. This is a positive change from Sirius XM's previous quarterly dividend of $0.27. Sirius XM's dividend payout ratio (DPR) is -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.