Handelsbanken Fonder AB Purchases 1,000 Shares of Sony Group Co. (NYSE:SONY)

Handelsbanken Fonder AB lifted its position in Sony Group Co. (NYSE:SONY) by 5.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 21,200 shares of the company’s stock after acquiring an additional 1,000 shares during the period. Handelsbanken Fonder AB’s holdings in Sony Group were worth $2,007,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Morgan Stanley grew its stake in shares of Sony Group by 0.4% in the third quarter. Morgan Stanley now owns 4,181,880 shares of the company’s stock valued at $344,629,000 after buying an additional 15,415 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Sony Group by 1.0% in the third quarter. Royal Bank of Canada now owns 1,213,293 shares of the company’s stock valued at $99,987,000 after buying an additional 12,467 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Sony Group by 39.0% in the third quarter. Envestnet Asset Management Inc. now owns 1,067,247 shares of the company’s stock valued at $87,952,000 after buying an additional 299,300 shares in the last quarter. Sei Investments Co. boosted its position in Sony Group by 0.5% during the third quarter. Sei Investments Co. now owns 526,865 shares of the company’s stock worth $43,419,000 after purchasing an additional 2,459 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Sony Group by 6.9% during the third quarter. Bank of New York Mellon Corp now owns 378,854 shares of the company’s stock worth $31,221,000 after purchasing an additional 24,427 shares during the period. 14.05% of the stock is owned by institutional investors.

Sony Group Stock Down 0.1 %

SONY opened at $82.33 on Friday. Sony Group Co. has a fifty-two week low of $79.62 and a fifty-two week high of $100.94. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.54 and a current ratio of 0.69. The company has a market capitalization of $101.61 billion, a P/E ratio of 15.89 and a beta of 0.98. The stock has a fifty day moving average of $85.70 and a 200-day moving average of $88.85.

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

Wall Street Analyst Weigh In

A number of research firms have commented on SONY. Macquarie cut shares of Sony Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 15th. StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Monday, April 8th. TheStreet raised shares of Sony Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $108.00 price objective on shares of Sony Group in a research report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $108.00.

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.