Bank of America Corp DE Raises Position in Sony Group Co. (NYSE:SONY)

Bank of America Corp DE raised its holdings in shares of Sony Group Co. (NYSE:SONY) by 377.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,804,970 shares of the company’s stock after buying an additional 18,821,902 shares during the quarter. Bank of America Corp DE owned about 0.39% of Sony Group worth $503,713,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Benjamin Edwards Inc. raised its position in shares of Sony Group by 415.8% during the 4th quarter. Benjamin Edwards Inc. now owns 21,510 shares of the company’s stock valued at $455,000 after buying an additional 17,340 shares in the last quarter. Ameriprise Financial Inc. raised its position in Sony Group by 386.6% during the fourth quarter. Ameriprise Financial Inc. now owns 917,856 shares of the company’s stock valued at $19,424,000 after purchasing an additional 729,218 shares in the last quarter. Alkeon Capital Management LLC lifted its stake in Sony Group by 400.0% during the fourth quarter. Alkeon Capital Management LLC now owns 275,000 shares of the company’s stock worth $5,819,000 after purchasing an additional 220,000 shares during the last quarter. American Trust Investment Advisors LLC boosted its holdings in shares of Sony Group by 410.0% in the 4th quarter. American Trust Investment Advisors LLC now owns 286,630 shares of the company’s stock worth $6,065,000 after purchasing an additional 230,433 shares in the last quarter. Finally, Aristotle Capital Management LLC increased its position in shares of Sony Group by 393.7% during the 4th quarter. Aristotle Capital Management LLC now owns 52,771,882 shares of the company’s stock valued at $1,116,653,000 after purchasing an additional 42,083,842 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors.

Sony Group Trading Down 0.1 %

NYSE SONY opened at $25.22 on Wednesday. The stock has a market cap of $152.49 billion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 9.95 and a beta of 0.97. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $26.08. The stock has a 50 day simple moving average of $24.21 and a two-hundred day simple moving average of $21.99. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66.

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

Analyst Ratings Changes

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

Sony Group Company 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.