Alps Advisors Inc. Trims Stake in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Alps Advisors Inc. reduced its stake in shares of Sirius XM Holdings Inc. (NASDAQ:SIRIGet Rating) by 78.1% in the 2nd quarter, Holdings Channel reports. The fund owned 34,163 shares of the company’s stock after selling 122,036 shares during the period. Alps Advisors Inc.’s holdings in Sirius XM were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC grew its holdings in Sirius XM by 106.8% in the first quarter. SG Americas Securities LLC now owns 151,432 shares of the company’s stock valued at $1,002,000 after purchasing an additional 78,203 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in Sirius XM by 59.6% in the first quarter. Steward Partners Investment Advisory LLC now owns 39,809 shares of the company’s stock valued at $264,000 after purchasing an additional 14,873 shares during the period. abrdn plc grew its holdings in Sirius XM by 3.0% in the first quarter. abrdn plc now owns 115,672 shares of the company’s stock valued at $769,000 after purchasing an additional 3,336 shares during the period. Banque Pictet & Cie SA grew its holdings in Sirius XM by 108.3% in the first quarter. Banque Pictet & Cie SA now owns 125,000 shares of the company’s stock valued at $828,000 after purchasing an additional 65,000 shares during the period. Finally, Commonwealth Equity Services LLC grew its holdings in Sirius XM by 7.2% in the first quarter. Commonwealth Equity Services LLC now owns 452,243 shares of the company’s stock valued at $2,993,000 after purchasing an additional 30,283 shares during the period. 10.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on SIRI shares. Pivotal Research dropped their price objective on Sirius XM from $7.10 to $6.75 in a report on Wednesday, November 2nd. StockNews.com began coverage on Sirius XM in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on Sirius XM from $8.00 to $7.50 in a research note on Wednesday, November 2nd. Finally, Morgan Stanley lowered their price target on Sirius XM from $6.50 to $6.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 19th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Sirius XM presently has a consensus rating of “Hold” and an average price target of $6.96.

Sirius XM Stock Performance

Shares of Sirius XM stock opened at $6.50 on Thursday. Sirius XM Holdings Inc. has a one year low of $5.69 and a one year high of $6.88. The company has a market cap of $25.28 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 3.12 and a beta of 0.92. The business’s 50 day moving average price is $6.11 and its 200 day moving average price is $6.21.

Sirius XM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Friday, November 11th will be given a dividend of $0.024 per share. This is an increase from Sirius XM’s previous quarterly dividend of $0.02. The ex-dividend date is Wednesday, November 9th. This represents a $0.10 dividend on an annualized basis and a yield of 1.48%. Sirius XM’s dividend payout ratio (DPR) is presently 34.48%.

About Sirius XM

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Sirius XM Holdings Inc provides satellite radio services on a subscription fee basis in the United States. It broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres, such as rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from various leagues and colleges; various talk and entertainment channels for a range of audiences; national, international, and financial news; and limited run channels.

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Institutional Ownership by Quarter for Sirius XM (NASDAQ:SIRI)

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