Capital Investment Advisory Services LLC Purchases New Stake in Sony Group Co. (NYSE:SONY)

Capital Investment Advisory Services LLC purchased a new stake in Sony Group Co. (NYSE:SONY) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 2,476 shares of the company’s stock, valued at approximately $234,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Cetera Trust Company N.A acquired a new stake in Sony Group during the fourth quarter worth $297,000. Handelsbanken Fonder AB increased its stake in Sony Group by 5.0% during the fourth quarter. Handelsbanken Fonder AB now owns 21,200 shares of the company’s stock worth $2,007,000 after acquiring an additional 1,000 shares during the last quarter. Signaturefd LLC increased its stake in Sony Group by 11.1% during the fourth quarter. Signaturefd LLC now owns 26,051 shares of the company’s stock worth $2,467,000 after acquiring an additional 2,602 shares during the last quarter. Lindbrook Capital LLC increased its stake in Sony Group by 13.8% during the fourth quarter. Lindbrook Capital LLC now owns 5,091 shares of the company’s stock worth $482,000 after acquiring an additional 618 shares during the last quarter. Finally, Calamos Wealth Management LLC increased its stake in Sony Group by 2.7% during the fourth quarter. Calamos Wealth Management LLC now owns 17,429 shares of the company’s stock worth $1,650,000 after acquiring an additional 456 shares during the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Wall Street Analyst Weigh In

SONY has been the subject of several recent analyst reports. TheStreet raised Sony Group from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Macquarie cut Sony Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 15th. Oppenheimer reaffirmed an “outperform” rating and issued a $108.00 price objective on shares of Sony Group in a research note on Monday, February 26th. Finally, StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $108.00.

Sony Group Trading Up 1.1 %

Shares of NYSE SONY opened at $82.71 on Thursday. Sony Group Co. has a twelve month low of $79.62 and a twelve month high of $100.94. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $86.02 and a 200-day simple moving average of $88.91. The stock has a market capitalization of $102.08 billion, a PE ratio of 15.97 and a beta of 0.98.

Sony Group (NYSE:SONY) last released its earnings results on Wednesday, February 14th. The company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.32. The firm had revenue of $25.38 billion during the quarter, compared to analyst estimates of $24.31 billion. Sony Group had a return on equity of 12.43% and a net margin of 7.62%. On average, equities analysts forecast that Sony Group Co. will post 5.21 earnings per share for the current year.

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.