Sirius XM (NASDAQ:SIRI) Given New $23.00 Price Target at The Goldman Sachs Group

Sirius XM (NASDAQ:SIRI) had its target price decreased by The Goldman Sachs Group from $26.00 to $23.00 in a research note issued to investors on Monday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Several other research firms have also recently commented on SIRI. Benchmark reaffirmed a “buy” rating and issued a $43.00 target price on shares of Sirius XM in a research report on Tuesday, October 15th. Rosenblatt Securities reiterated a “neutral” rating and issued a $28.00 price target on shares of Sirius XM in a research note on Monday. Morgan Stanley reiterated an “underweight” rating and issued a $23.00 price target on shares of Sirius XM in a research note on Tuesday, September 24th. Guggenheim upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Wednesday, September 18th. Finally, Citigroup increased their price target on shares of Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research note on Thursday, September 26th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $28.88.

Sirius XM Stock Down 6.2 %

NASDAQ:SIRI opened at $25.93 on Monday. The company has a 50-day moving average price of $26.42 and a 200-day moving average price of $29.32. Sirius XM has a 12 month low of $22.18 and a 12 month high of $57.80. The company has a quick ratio of 0.43, a current ratio of 0.37 and a debt-to-equity ratio of 0.93.

Sirius XM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a $0.27 dividend. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, November 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.17%. Sirius XM’s dividend payout ratio (DPR) is presently -16.72%.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the stock in a transaction on Wednesday, October 9th. The shares were acquired at an average price of $23.55 per share, with a total value 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 $2,496,884,722.95. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Berkshire Hathaway Inc bought 869,800 shares of the stock in a transaction dated Wednesday, October 9th. The shares were purchased at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the completion of the acquisition, the insider now owns 106,024,829 shares of the company’s stock, valued at $2,496,884,722.95. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott Andrew Greenstein sold 144,723 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the completion of the transaction, the insider now directly owns 98,933 shares in the company, valued at $3,126,282.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 2,646,761 shares of company stock valued at $65,952,329. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Sirius XM

Several hedge funds have recently modified their holdings of SIRI. Sumitomo Mitsui Trust Holdings Inc. increased its position in Sirius XM by 2.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,099,258 shares of the company’s stock worth $8,145,000 after purchasing an additional 50,323 shares during the last quarter. Principal Financial Group Inc. increased its position in Sirius XM by 32.9% in the first quarter. Principal Financial Group Inc. now owns 54,026 shares of the company’s stock worth $210,000 after purchasing an additional 13,364 shares during the last quarter. Van ECK Associates Corp bought a new stake in Sirius XM in the first quarter worth $2,036,000. Janney Montgomery Scott LLC increased its position in Sirius XM by 239.2% in the first quarter. Janney Montgomery Scott LLC now owns 181,072 shares of the company’s stock worth $703,000 after purchasing an additional 127,689 shares during the last quarter. Finally, Graypoint LLC bought a new stake in Sirius XM in the first quarter worth $39,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

About Sirius XM

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.