Sirius XM Holdings Inc. (NASDAQ:SIRI) Shares Sold by State Street Corp

State Street Corp lowered its position in Sirius XM Holdings Inc. (NASDAQ:SIRI - Free Report) by 67.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,250,163 shares of the company's stock after selling 8,618,217 shares during the period. State Street Corp owned approximately 1.25% of Sirius XM worth $100,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Coston McIsaac & Partners grew its position in shares of Sirius XM by 113.5% during the 3rd quarter. Coston McIsaac & Partners now owns 1,174 shares of the company's stock worth $27,000 after buying an additional 624 shares in the last quarter. TCTC Holdings LLC purchased a new position in Sirius XM during the 3rd quarter worth approximately $29,000. Princeton Global Asset Management LLC raised its holdings in shares of Sirius XM by 2,683.7% during the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company's stock worth $32,000 after purchasing an additional 1,315 shares during the last quarter. Plato Investment Management Ltd acquired a new position in Sirius XM during the second quarter valued at $35,000. Finally, Riverview Capital Advisers LLC purchased a new stake in Sirius XM in the second quarter valued at $35,000. Hedge funds and other institutional investors own 10.69% of the company's stock.

Sirius XM Trading Down 6.1 %

Shares of SIRI traded down $1.47 during midday trading on Monday, hitting $22.64. 8,288,034 shares of the stock were exchanged, compared to its average volume of 3,680,443. Sirius XM Holdings Inc. has a 52-week low of $22.18 and a 52-week high of $56.80. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a fifty day simple moving average of $26.34 and a 200 day simple moving average of $28.54. The firm has a market cap of $7.68 billion, a P/E ratio of -3.57 and a beta of 1.03.

Sirius XM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a $0.27 dividend. This is a positive change from Sirius XM's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.08 annualized dividend and a dividend yield of 4.77%. Sirius XM's dividend payout ratio (DPR) is presently -17.03%.

Wall Street Analyst Weigh In

SIRI has been the subject of several recent research reports. Guggenheim reaffirmed a "buy" rating and set a $30.00 target price on shares of Sirius XM in a report on Wednesday, December 11th. Benchmark reaffirmed a "buy" rating and issued a $43.00 price objective on shares of Sirius XM in a report on Tuesday, October 15th. Barrington Research lowered their target price on shares of Sirius XM from $40.00 to $30.00 and set an "outperform" rating on the stock in a research note on Friday. Rosenblatt Securities lifted their price target on Sirius XM from $28.00 to $29.00 and gave the company a "neutral" rating in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. increased their price target on Sirius XM from $20.00 to $21.00 and gave the stock an "underweight" rating in a research report on Thursday, November 7th. Six research 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. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $28.27.

Insider Activity at Sirius XM

In related news, major shareholder Berkshire Hathaway Inc bought 1,259,259 shares of the firm's stock in a transaction that occurred on Friday, October 11th. The stock was purchased at an average cost of $24.95 per share, for a total transaction 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. This trade represents a 1.17 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders acquired 2,646,761 shares of company stock worth $65,952,329. Corporate insiders own 0.79% of the company's stock.

Sirius XM 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.