Alhambra Investment Management LLC Trims Stake in Sirius XM Holdings Inc. (NASDAQ:SIRI)

Alhambra Investment Management LLC lessened its holdings in shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,719 shares of the company’s stock after selling 1,421 shares during the period. Alhambra Investment Management LLC’s holdings in Sirius XM were worth $358,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SIRI. Choreo LLC increased its stake in Sirius XM by 33.8% in the 2nd quarter. Choreo LLC now owns 25,438 shares of the company’s stock worth $73,000 after buying an additional 6,421 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Sirius XM by 8.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock worth $12,260,000 after purchasing an additional 353,860 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Sirius XM by 5.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 142,767 shares of the company’s stock valued at $404,000 after acquiring an additional 6,785 shares during the last quarter. Amalgamated Bank lifted its position in shares of Sirius XM by 30.8% in the second quarter. Amalgamated Bank now owns 109,112 shares of the company’s stock valued at $309,000 after acquiring an additional 25,714 shares in the last quarter. Finally, AE Wealth Management LLC increased its position in shares of Sirius XM by 61.9% during the second quarter. AE Wealth Management LLC now owns 28,923 shares of the company’s stock worth $82,000 after purchasing an additional 11,053 shares in the last quarter. 10.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on SIRI shares. Pivotal Research dropped their price target on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Guggenheim reaffirmed a “buy” rating and issued a $30.00 price target on shares of Sirius XM in a report on Wednesday, December 11th. 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 cut their target price on Sirius XM from $22.00 to $16.00 and set an “underweight” rating for the company in a research note on Thursday, December 19th. Finally, Bank of America reiterated an “underperform” rating and set a $23.00 target price on shares of Sirius XM in a research report on Thursday, October 24th. Six research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.58.

Sirius XM Stock Up 1.6 %

Shares of SIRI opened at $22.27 on Friday. The business’s 50 day simple moving average is $24.45 and its 200-day simple moving average is $27.78. Sirius XM Holdings Inc. has a 1 year low of $20.47 and a 1 year high of $55.40. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.85%. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, November 5th. Sirius XM’s dividend payout ratio is currently -17.03%.

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.