Columbia Asset Management Increases Stake in Sony Group Co. (NYSE:SONY)

Columbia Asset Management increased its holdings in Sony Group Co. (NYSE:SONY) by 400.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 106,498 shares of the company’s stock after purchasing an additional 85,223 shares during the quarter. Columbia Asset Management’s holdings in Sony Group were worth $2,253,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Sony Group by 25.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 79,211 shares of the company’s stock worth $7,649,000 after buying an additional 16,073 shares during the period. CreativeOne Wealth LLC bought a new stake in Sony Group in the 3rd quarter worth $201,000. Benjamin Edwards Inc. purchased a new position in shares of Sony Group in the third quarter valued at about $403,000. Hilltop Holdings Inc. raised its stake in shares of Sony Group by 44.0% during the third quarter. Hilltop Holdings Inc. now owns 6,471 shares of the company’s stock valued at $625,000 after acquiring an additional 1,977 shares during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Sony Group by 34.0% during the third quarter. HighTower Advisors LLC now owns 43,341 shares of the company’s stock worth $4,188,000 after purchasing an additional 10,994 shares during the period. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SONY shares. Oppenheimer restated an “outperform” rating and set a $33.00 price target (up previously from $25.00) on shares of Sony Group in a report on Thursday, February 20th. The Goldman Sachs Group started coverage on Sony Group in a report on Tuesday, March 25th. They set a “buy” rating for the company. StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Sanford C. Bernstein initiated coverage on shares of Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $28.00.

Sony Group Stock Down 0.8 %

SONY stock opened at $25.19 on Wednesday. The company has a market capitalization of $152.31 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. The business’s 50 day moving average price is $23.76 and its two-hundred day moving average price is $20.02. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $25.78.

Sony Group (NYSE:SONY) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. The business had revenue of $28.95 billion during the quarter, compared to the consensus estimate of $24.32 billion. As a group, analysts forecast that Sony Group Co. will post 1.23 earnings per share for the current fiscal year.

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.