Wilbanks Smith & Thomas Asset Management LLC Reduces Stock Position in Sony Group Co. (NYSE:SONY)

Wilbanks Smith & Thomas Asset Management LLC lessened its position in shares of Sony Group Co. (NYSE:SONY) by 29.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,359 shares of the company’s stock after selling 1,003 shares during the quarter. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Sony Group were worth $223,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SONY. Gallacher Capital Management LLC grew its stake 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 period. Contravisory Investment Management Inc. lifted its holdings in Sony Group by 6.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 1,979 shares of the company’s stock valued at $187,000 after purchasing an additional 127 shares in the last quarter. Brighton Jones LLC boosted its position in shares of Sony Group by 4.1% in the third quarter. Brighton Jones LLC now owns 3,308 shares of the company’s stock worth $273,000 after purchasing an additional 129 shares during the period. PDS Planning Inc increased its stake in shares of Sony Group by 2.3% in the fourth quarter. PDS Planning Inc now owns 6,231 shares of the company’s stock worth $590,000 after purchasing an additional 138 shares in the last quarter. Finally, Lido Advisors LLC raised its position in shares of Sony Group by 3.4% during the 3rd quarter. Lido Advisors LLC now owns 4,586 shares of the company’s stock valued at $378,000 after purchasing an additional 149 shares during the period. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities 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. TheStreet upgraded shares of Sony Group from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $108.00 price objective on shares of Sony Group in a research report on Monday, February 26th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Sony Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.00.

Sony Group Stock Up 0.5 %

Shares of Sony Group stock opened at $84.54 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.69 and a quick ratio of 0.54. The stock has a market cap of $104.34 billion, a price-to-earnings ratio of 16.32 and a beta of 0.95. The firm’s 50-day moving average is $85.24 and its two-hundred day moving average is $88.78. Sony Group Co. has a 1 year low of $79.62 and a 1 year high of $100.94.

Sony Group (NYSE:SONY) last released its quarterly earnings data on Wednesday, February 14th. The company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.32. The firm had revenue of $25.38 billion for the quarter, compared to the consensus estimate of $24.31 billion. Sony Group had a net margin of 7.62% and a return on equity of 12.43%. As a group, research analysts expect that Sony Group Co. will post 5.22 earnings per share for the current fiscal year.

About Sony Group

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.