Advisory Services Network LLC Invests $231,000 in Sony Group Co. (NYSE:SONY)

Advisory Services Network LLC acquired a new stake in Sony Group Co. (NYSE:SONY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,914 shares of the company’s stock, valued at approximately $231,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. M&T Bank Corp raised its holdings in shares of Sony Group by 1.9% in the third quarter. M&T Bank Corp now owns 80,858 shares of the company’s stock valued at $7,808,000 after acquiring an additional 1,489 shares in the last quarter. World Investment Advisors LLC purchased a new position in Sony Group during the 3rd quarter valued at about $2,073,000. Wilmington Savings Fund Society FSB purchased a new position in Sony Group during the 3rd quarter valued at about $287,000. Tidal Investments LLC bought a new stake in shares of Sony Group in the 3rd quarter valued at about $244,000. Finally, Synovus Financial Corp lifted its position in shares of Sony Group by 2.4% in the 3rd quarter. Synovus Financial Corp now owns 50,514 shares of the company’s stock worth $4,878,000 after purchasing an additional 1,177 shares during the period. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SONY. Sanford C. Bernstein initiated coverage on Sony Group in a report on Thursday, January 16th. They issued an “outperform” rating on the stock. StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Wolfe Research restated a “peer perform” rating on shares of Sony Group in a report on Monday, April 7th. The Goldman Sachs Group assumed coverage on shares of Sony Group in a research report on Tuesday, March 25th. They set a “buy” rating for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 price target (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $28.00.

Sony Group Stock Up 2.8 %

SONY stock opened at $24.02 on Friday. The stock has a market capitalization of $145.23 billion, a P/E ratio of 19.49, a P/E/G ratio of 9.95 and a beta of 0.94. Sony Group Co. has a 52 week low of $15.02 and a 52 week high of $25.78. The firm has a 50-day simple moving average of $24.05 and a 200-day simple moving average of $21.46. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25.

Sony Group (NYSE:SONY) last released its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. The business had revenue of $28.95 billion during the quarter, compared to analyst estimates of $24.32 billion. Equities analysts forecast that Sony Group Co. will post 1.23 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.