Wells Fargo & Company MN Increases Position in Sony Group Co. (NYSE:SONY)

Wells Fargo & Company MN increased its stake in shares of Sony Group Co. (NYSE:SONY) by 375.9% in the fourth quarter, HoldingsChannel reports. The firm owned 2,893,656 shares of the company’s stock after buying an additional 2,285,637 shares during the period. Wells Fargo & Company MN’s holdings in Sony Group were worth $61,230,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Silicon Valley Capital Partners increased its position in shares of Sony Group by 401.3% during the fourth quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company’s stock worth $25,000 after purchasing an additional 927 shares in the last quarter. General Partner Inc. increased its position in Sony Group by 400.0% during the 4th quarter. General Partner Inc. now owns 1,245 shares of the company’s stock valued at $26,000 after buying an additional 996 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Sony Group in the fourth quarter valued at about $26,000. Fairscale Capital LLC boosted its holdings in Sony Group by 400.0% in the fourth quarter. Fairscale Capital LLC now owns 1,240 shares of the company’s stock worth $26,000 after acquiring an additional 992 shares in the last quarter. Finally, Accent Capital Management LLC grew its stake in shares of Sony Group by 400.0% during the fourth quarter. Accent Capital Management LLC now owns 1,380 shares of the company’s stock worth $29,000 after acquiring an additional 1,104 shares during the last quarter. Institutional investors own 14.05% of the company’s stock.

Sony Group Price Performance

NYSE:SONY opened at $21.32 on Wednesday. The firm’s fifty day moving average is $23.88 and its two-hundred day moving average is $20.69. The firm has a market cap of $128.91 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 9.95 and a beta of 0.94. 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 Co. has a one year low of $15.02 and a one year high of $25.78.

Sony Group (NYSE:SONY) last issued its 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 firm had revenue of $28.95 billion for the quarter, compared to the consensus estimate of $24.32 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. Research analysts expect that Sony Group Co. will post 1.23 EPS for the current year.

Analyst Ratings Changes

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

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.