Wealth Alliance Increases Stake in Sony Group Co. (NYSE:SONY)

Wealth Alliance raised its stake in shares of Sony Group Co. (NYSE:SONY) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,425 shares of the company’s stock after buying an additional 254 shares during the quarter. Wealth Alliance’s holdings in Sony Group were worth $1,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in SONY. Fiduciary Trust Co. boosted its position in shares of Sony Group by 4.0% during the 1st quarter. Fiduciary Trust Co. now owns 2,871 shares of the company’s stock valued at $260,000 after acquiring an additional 110 shares during the last quarter. Gallacher Capital Management LLC boosted its position in shares of Sony Group by 3.9% during the 3rd quarter. Gallacher Capital Management LLC now owns 3,215 shares of the company’s stock valued at $265,000 after acquiring an additional 121 shares during the last quarter. Hancock Whitney Corp boosted its position in shares of Sony Group by 1.9% during the 1st quarter. Hancock Whitney Corp now owns 6,506 shares of the company’s stock valued at $590,000 after acquiring an additional 124 shares during the last quarter. Contravisory Investment Management Inc. boosted its position in shares of Sony Group by 6.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 1,979 shares of the company’s stock valued at $187,000 after acquiring an additional 127 shares during the last quarter. Finally, Brighton Jones LLC boosted its position in shares of Sony Group by 4.1% during the 3rd quarter. Brighton Jones LLC now owns 3,308 shares of the company’s stock valued at $273,000 after acquiring an additional 129 shares during the last quarter. 14.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SONY shares. Macquarie downgraded Sony Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 15th. Oppenheimer reiterated an “outperform” rating and set a $108.00 target price on shares of Sony Group in a research report on Monday, February 26th. TheStreet upgraded Sony Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Finally, StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $108.00.

Sony Group Stock Up 0.8 %

Shares of SONY opened at $82.97 on Wednesday. The company has a market cap of $102.40 billion, a PE ratio of 16.02 and a beta of 0.98. The business has a fifty day moving average of $87.67 and a 200 day moving average of $88.97. Sony Group Co. has a 52-week low of $79.62 and a 52-week high of $100.94. The company has a quick ratio of 0.54, a current ratio of 0.69 and a debt-to-equity ratio of 0.25.

Sony Group (NYSE:SONY) last released its earnings results on Wednesday, February 14th. The company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.32. The business had revenue of $25.38 billion during the quarter, compared to the consensus estimate of $24.31 billion. Sony Group had a return on equity of 12.43% and a net margin of 7.62%. On average, sell-side analysts expect that Sony Group Co. will post 5.21 EPS for the current year.

Sony Group Profile

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.