Geode Capital Management LLC Sells 10,200,640 Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI)

Geode Capital Management LLC cut its holdings in Sirius XM Holdings Inc. (NASDAQ:SIRI) by 73.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,760,020 shares of the company’s stock after selling 10,200,640 shares during the quarter. Geode Capital Management LLC’s holdings in Sirius XM were worth $88,946,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Coston McIsaac & Partners increased its stake in shares of Sirius XM by 113.5% during the third 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 bought a new position in Sirius XM during the 3rd quarter valued at approximately $29,000. Bfsg LLC raised its stake in Sirius XM by 35.3% during the third 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 last quarter. Princeton Global Asset Management LLC raised its stake in 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 valued at $32,000 after buying an additional 1,315 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in Sirius XM by 139.8% in the third quarter. Larson Financial Group LLC now owns 3,187 shares of the company’s stock worth $75,000 after acquiring an additional 1,858 shares in the last quarter. 10.69% of the stock is currently owned by institutional investors.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $20.58 on Friday. The firm’s 50 day moving average price is $26.20 and its 200-day moving average price is $28.39. 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 stock has a market capitalization of $6.98 billion, a PE ratio of -3.25 and a beta of 1.03. Sirius XM Holdings Inc. has a twelve month low of $20.47 and a twelve month high of $56.80.

Sirius XM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend was Tuesday, November 5th. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s dividend payout ratio (DPR) is currently -17.03%.

Wall Street Analyst Weigh In

SIRI has been the subject of several recent analyst reports. Seaport Res Ptn lowered Sirius XM from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Wells Fargo & Company reduced their price objective on shares of Sirius XM from $22.00 to $16.00 and set an “underweight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. upped their target price on shares of Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Guggenheim reissued a “buy” rating and set a $30.00 price target on shares of Sirius XM in a research report on Wednesday, December 11th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $23.00 price objective on shares of Sirius XM in a research report on Tuesday, September 24th. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Sirius XM presently has an average rating of “Hold” and an average target price of $27.58.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc bought 175,569 shares of Sirius XM stock in a transaction that occurred on Friday, October 18th. The stock was bought at an average cost of $27.43 per share, with a total value of $4,815,857.67. Following the acquisition, the insider now owns 110,276,790 shares of the company’s stock, valued at $3,024,892,349.70. The trade was a 0.16 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired a total of 2,646,761 shares of company stock valued at $65,952,329 in the last 90 days. Company 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.