Warren Buffett is selling Apple stock and buying Chevron, Oxy, and SiriusXM (2024)

FAQs

Why is Warren Buffett buying Sirius XM? ›

Warren Buffett (Trades, Portfolio)'s latest trade in Liberty SiriusXM Group underscores the firm's confidence in the company's value proposition and long-term prospects. For value investors, Buffett's investment moves offer insights into potential opportunities in the market.

Above all else, it's likely Buffett sees Chevron as a value play. Chevron has proven it can do well even when the prices for crude oil drop, noting in its fourth-quarter earnings call it can cover capital expenditures and dividends even if Brent crude drops to the low-$50 range.

As of this writing, Berkshire Hathaway owns 906 million shares of Apple, giving the conglomerate a 5.9% stake in the tech giant. Apple's beneficial capital allocation policies provide a massive benefit to Buffett's firm. After a nearly two-decade pause, the iPhone maker has paid a dividend since 2012.

Buffett began buying Apple in the first quarter of 2016, but there's no way to know exactly what his average share price was. But if you use the highest closing that quarter as a conservative estimate, it means that you would have paid $27.06 per share for Apple. On Mar. 4, 2024, Apple shares closed at $175.10.

What do analysts say about Sirius XM Holdings Inc? Sirius XM Holdings Inc's analyst rating consensus is a Hold. This is based on the ratings of 9 Wall Streets Analysts.

Is anything removed with the Infotainment Upgrade? Yes. You will no longer have access to AM, FM or Sirius XM radio. The upgraded infotainment system is not compatible with the original radio tuner that came equipped on your vehicle.

So, if Buffett said that selling Apple was a mistake, you may wonder why Berkshire sold a little over 10 million shares in Q4 2023. Since it is a relatively small amount, my guess is that this may have been tax-related. We will hear more about Buffett's opinions on Apple during Berkshire's 2024 annual meeting on May 4.

Vanguard owns the most shares of Chevron Corp (CVX).

Chevron is not owned by hedge funds. The company's largest shareholder is The Vanguard Group, Inc., with ownership of 8.6%. The second and third largest shareholders are BlackRock, Inc. and State Street Global Advisors, Inc., with an equal amount of shares to their name at 6.6%.

The Vanguard Group was Apple's top shareholder as of January 2024 with more than 1.27 billion shares representing 8.27% of total shares. Arthur Levinson was Apple's top individual insider shareholder as of January 2024 with more than 4.5 million shares.

Who owns the biggest stock in Apple? ›

Vanguard owns the most shares of Apple (AAPL). What is the significance of the ownership structure for a publicly traded company?

If you bought $10,000 worth of Apple shares at that price and didn't sell any shares along the way, your investment would today be worth close to $66,250. At the stock's peak in late December 2023, your shares would have been worth a little over $71,000.

Warren Buffett turned 87 last week. By now, it's probably safe to say Berkshire Hathaway's chairman, who's said he has the diet of a 6-year-old and has no interest in getting to work before dawn, has settled on his optimal daily routine.

Sirius XM (NASDAQ: SIRI) has been an equity holding of Warren Buffett's investment vehicle Berkshire Hathaway for years.

Total debt on the balance sheet as of December 2023 : $9.53 B. According to Sirius XM's latest financial reports the company's total debt is $9.53 B. A company's total debt is the sum of all current and non-current debts.

Sirius XM Holdings annual gross profit for 2023 was $4.744B, a 2.65% decline from 2022. Sirius XM Holdings annual gross profit for 2022 was $4.873B, a 3.07% increase from 2021. Sirius XM Holdings annual gross profit for 2021 was $4.728B, a 5.99% increase from 2020.

While the exact trade impact is not disclosed, the acquisition of Liberty Media Corp Junk shares aligns with Berkshire Hathaway's investment strategy. The firm's portfolio is heavily weighted towards technology and financial services, and the addition of a media company could represent a strategic diversification move.

Sirius XM is a satellite-radio operator with nearly 34 million subscribers. These subscribers account for more than 75% of Sirius XM's revenue.