Wealth Alliance LLC Sells 3,117 Shares of Sony Corporation $SONY

Wealth Alliance LLC trimmed its position in Sony Corporation (NYSE:SONY) by 5.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,906 shares of the company’s stock after selling 3,117 shares during the quarter. Wealth Alliance LLC’s holdings in Sony were worth $1,533,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SONY. Rosenberg Matthew Hamilton boosted its stake in shares of Sony by 4.7% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 9,765 shares of the company’s stock worth $254,000 after purchasing an additional 442 shares during the period. Sowell Financial Services LLC raised its position in Sony by 3.7% during the 2nd quarter. Sowell Financial Services LLC now owns 13,318 shares of the company’s stock worth $347,000 after buying an additional 474 shares during the last quarter. First Foundation Advisors lifted its holdings in shares of Sony by 3.4% in the 1st quarter. First Foundation Advisors now owns 14,543 shares of the company’s stock valued at $369,000 after buying an additional 478 shares during the period. Rossby Financial LCC boosted its stake in shares of Sony by 2.6% during the 2nd quarter. Rossby Financial LCC now owns 18,897 shares of the company’s stock worth $492,000 after acquiring an additional 485 shares in the last quarter. Finally, Optas LLC grew its stake in Sony by 2.7% in the 2nd quarter. Optas LLC now owns 19,052 shares of the company’s stock valued at $496,000 after acquiring an additional 494 shares during the period. 14.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SONY shares. Wolfe Research upgraded Sony from a “peer perform” rating to an “outperform” rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sony in a report on Wednesday, October 8th. Cfra Research raised Sony to a “moderate buy” rating in a research report on Friday, October 10th. Finally, Zacks Research raised Sony from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to MarketBeat, Sony presently has an average rating of “Buy” and a consensus target price of $33.00.

Sony Trading Up 4.6%

NYSE:SONY opened at $29.26 on Wednesday. Sony Corporation has a 52-week low of $18.41 and a 52-week high of $30.28. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $28.81 and a 200-day simple moving average of $26.85. The company has a market capitalization of $176.95 billion, a PE ratio of 23.22 and a beta of 0.99.

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.