First American Trust FSB Increases Stock Position in Sony Group Co. (NYSE:SONY)

First American Trust FSB grew its position in shares of Sony Group Co. (NYSE:SONY) by 378.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,080 shares of the company’s stock after purchasing an additional 11,136 shares during the period. First American Trust FSB’s holdings in Sony Group were worth $298,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Y.D. More Investments Ltd grew its stake in shares of Sony Group by 400.0% in the 4th quarter. Y.D. More Investments Ltd now owns 36,065 shares of the company’s stock worth $763,000 after buying an additional 28,852 shares in the last quarter. Bfsg LLC bought a new stake in Sony Group during the fourth quarter worth approximately $6,125,000. Fifth Third Bancorp increased its stake in Sony Group by 311.3% during the fourth quarter. Fifth Third Bancorp now owns 157,702 shares of the company’s stock worth $3,337,000 after acquiring an additional 119,362 shares during the last quarter. West Family Investments Inc. raised its position in Sony Group by 392.9% during the fourth quarter. West Family Investments Inc. now owns 26,725 shares of the company’s stock valued at $566,000 after purchasing an additional 21,303 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of Sony Group by 430.0% in the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 40,336 shares of the company’s stock worth $854,000 after purchasing an additional 32,725 shares during the period. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Sony Group Price Performance

Sony Group stock opened at $25.24 on Wednesday. The stock has a market cap of $152.64 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91. The firm has a 50-day moving average of $23.28 and a two-hundred day moving average of $19.26. Sony Group Co. has a 1 year low of $15.02 and a 1 year high of $25.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49.

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

Analyst Upgrades and Downgrades

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

Sony Group Company 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.