Sony Group Co. (NYSE:SONY) Stake Boosted by Wealth Alliance

Wealth Alliance grew its stake in shares of Sony Group Co. (NYSE:SONY) by 417.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,076 shares of the company’s stock after purchasing an additional 51,703 shares during the quarter. Wealth Alliance’s holdings in Sony Group were worth $1,356,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SONY. Cardinal Capital Management Inc. boosted its position in shares of Sony Group by 403.7% during the fourth quarter. Cardinal Capital Management Inc. now owns 1,606,160 shares of the company’s stock worth $33,986,000 after buying an additional 1,287,259 shares during the period. Mediolanum International Funds Ltd acquired a new stake in Sony Group in the third quarter worth approximately $109,462,000. Fisher Asset Management LLC lifted its position in Sony Group by 12.7% in the third quarter. Fisher Asset Management LLC now owns 8,636,355 shares of the company’s stock worth $834,013,000 after purchasing an additional 972,075 shares during the period. Cambiar Investors LLC increased its holdings in shares of Sony Group by 548.9% in the fourth quarter. Cambiar Investors LLC now owns 1,059,241 shares of the company’s stock valued at $22,414,000 after buying an additional 896,013 shares in the last quarter. Finally, XY Capital Ltd increased its holdings in shares of Sony Group by 1,850.5% in the fourth quarter. XY Capital Ltd now owns 920,534 shares of the company’s stock valued at $19,478,000 after buying an additional 873,339 shares in the last quarter. 14.05% of the stock is owned by institutional investors.

Sony Group Price Performance

Shares of NYSE:SONY opened at $24.74 on Thursday. The company’s fifty day moving average is $21.63 and its two-hundred day moving average is $15.64. 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 Co. has a 12-month low of $15.02 and a 12-month high of $24.88. The company has a market cap of $149.59 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 9.90 and a beta of 0.96.

Sony Group (NYSE:SONY) last announced its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.14. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. The company had revenue of $28.95 billion for the quarter, compared to the consensus estimate of $24.32 billion. Equities analysts expect that Sony Group Co. will post 1.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SONY shares. StockNews.com cut Sony Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 19th. Sanford C. Bernstein started coverage on Sony Group in a report on Thursday, January 16th. They issued an “outperform” rating on the stock. Finally, Oppenheimer dropped their price target on Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $24.00.

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.