Sound View Wealth Advisors Group LLC Purchases New Stake in Sony Corporation (NYSE:SONY)

Sound View Wealth Advisors Group LLC acquired a new position in Sony Corporation (NYSE:SONY) during the 1st quarter, HoldingsChannel reports. The fund acquired 8,243 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Capital Analysts LLC raised its holdings in shares of Sony by 400.0% in the 4th quarter. Capital Analysts LLC now owns 1,170 shares of the company’s stock worth $25,000 after purchasing an additional 936 shares during the period. City Holding Co. bought a new stake in shares of Sony in the first quarter valued at $30,000. Bartlett & CO. Wealth Management LLC bought a new stake in shares of Sony in the first quarter valued at $31,000. Operose Advisors LLC lifted its position in shares of Sony by 400.0% during the 4th quarter. Operose Advisors LLC now owns 1,520 shares of the company’s stock valued at $32,000 after buying an additional 1,216 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Sony by 155.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,268 shares of the company’s stock worth $48,000 after acquiring an additional 1,380 shares during the period. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SONY shares. Wall Street Zen cut Sony from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Wolfe Research reissued a “peer perform” rating on shares of Sony in a research report on Monday, April 7th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Sony currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Sony Stock Performance

Shares of SONY opened at $24.39 on Friday. Sony Corporation has a 52-week low of $15.96 and a 52-week high of $26.94. The stock’s 50-day simple moving average is $25.38 and its 200 day simple moving average is $24.35. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.57 and a current ratio of 0.70. The stock has a market capitalization of $147.50 billion, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 11.87 and a beta of 0.91.

About Sony

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.