Altshuler Shaham Ltd Cuts Stock Position in Sony Group Co. (NYSE:SONY)

Altshuler Shaham Ltd lessened its holdings in Sony Group Co. (NYSE:SONY) by 93.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,301 shares of the company’s stock after selling 57,587 shares during the quarter. Altshuler Shaham Ltd’s holdings in Sony Group were worth $407,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Stratos Wealth Partners LTD. grew its stake in Sony Group by 10.7% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 4,642 shares of the company’s stock valued at $383,000 after purchasing an additional 448 shares during the last quarter. Bank of New York Mellon Corp raised its position in Sony Group by 6.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 378,854 shares of the company’s stock worth $31,221,000 after buying an additional 24,427 shares during the last quarter. Brown Advisory Inc. boosted its holdings in shares of Sony Group by 4.6% in the 3rd quarter. Brown Advisory Inc. now owns 9,742 shares of the company’s stock valued at $803,000 after acquiring an additional 426 shares during the last quarter. Brighton Jones LLC increased its stake 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 acquiring an additional 129 shares during the period. Finally, Foyston Gordon & Payne Inc raised its holdings in shares of Sony Group by 4.9% during the third quarter. Foyston Gordon & Payne Inc now owns 40,761 shares of the company’s stock worth $3,359,000 after purchasing an additional 1,906 shares during the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SONY. TheStreet upgraded Sony Group from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Oppenheimer reissued an “outperform” rating and issued a $108.00 price target on shares of Sony Group in a report on Monday, February 26th. Macquarie cut shares of Sony Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 15th. Finally, StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $108.00.

Sony Group Price Performance

NYSE:SONY traded down $0.88 during trading hours on Thursday, reaching $77.47. 1,641,698 shares of the company were exchanged, compared to its average volume of 782,039. The stock’s 50-day moving average is $85.00 and its 200-day moving average is $88.76. Sony Group Co. has a twelve month low of $76.63 and a twelve month high of $100.94. The firm has a market cap of $95.62 billion, a PE ratio of 14.86 and a beta of 0.95. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.25.

Sony Group (NYSE:SONY) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.32. Sony Group had a net margin of 7.62% and a return on equity of 12.43%. The firm had revenue of $25.38 billion for the quarter, compared to analyst estimates of $24.31 billion. On average, sell-side analysts anticipate that Sony Group Co. will post 5.22 earnings per share for the current fiscal 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.