Billionaire Warren Buffett pours hundreds of millions of dollars in a single investment after creating a huge cash stack by steadily dumping shares of Bank of America, JPMorgan Chase and Wells Fargo.
Berkshire Hathaway’s newest Form 13f -Reports show The Wall Street -legend bought around 20 million shares from Sirius XM (Siri) in Q3 2024 to Q1 2025, with a value of approximately $ 459 million based on an average price of $ 22.95 per share.
That brings Berkshire’s total Siri interests to no less than 119,776,692 shares, worth around $ 2.9 billion at the time of publication – accounting for more than 35% of the outstanding shares of the company.
The purchase is an attempt to buy the dip in the satellite and online audio entertainment service company, which offers a wide range of programming, including music, news, sports, talking and comedy.
The share fell by approximately 45% from its 52 weeks high from $ 41.60 to $ 24.29 at the time of publication.
At that time, the share has considerably left the S&P 500, which has won more than 30%.
In Q1 2025, Sirius XM reported a turnover of 4% to $ 2.07 billion and a decrease of 6% in profit per share to $ 0.59, missing analyst expectations.
In Q2 the company reported continuous losses on subscribers and a turnover decrease of 5% in the Sirius XM segment.
The company offers a dividend yield of 5.2%, making it more attractive for income-oriented investors such as Buffett, who probably sees the long-term value in the strong brand and recurring income model of Sirius XM.
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