Marks Group Wealth Management Inc Has $1.82 Million Stock Position in Sony Corporation (NYSE:SONY)

Marks Group Wealth Management Inc lessened its stake in Sony Corporation (NYSE:SONY) by 5.6% in the 1st quarter, HoldingsChannel reports. The fund owned 71,738 shares of the company’s stock after selling 4,259 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Sony were worth $1,821,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Forum Financial Management LP grew its stake in shares of Sony by 536.0% during the fourth quarter. Forum Financial Management LP now owns 115,250 shares of the company’s stock valued at $2,439,000 after purchasing an additional 97,130 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in Sony by 435.8% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 582,400 shares of the company’s stock worth $12,323,000 after buying an additional 473,700 shares in the last quarter. BSW Wealth Partners boosted its position in Sony by 87.0% in the 1st quarter. BSW Wealth Partners now owns 26,662 shares of the company’s stock valued at $677,000 after buying an additional 12,404 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Sony by 386.6% in the 4th quarter. Ameriprise Financial Inc. now owns 917,856 shares of the company’s stock valued at $19,424,000 after buying an additional 729,218 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Sony by 507.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 481,130 shares of the company’s stock valued at $10,181,000 after buying an additional 401,919 shares during the period. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Stock Down 0.9%

NYSE:SONY opened at $24.42 on Monday. The company has a quick ratio of 0.57, a current ratio of 0.70 and a debt-to-equity ratio of 0.24. Sony Corporation has a 12-month low of $15.96 and a 12-month high of $26.95. The stock’s fifty day simple moving average is $25.56 and its 200-day simple moving average is $24.02. The firm has a market capitalization of $147.68 billion, a P/E ratio of 19.79, a P/E/G ratio of 11.74 and a beta of 0.94.

Analyst Ratings Changes

Several brokerages have recently issued reports on SONY. Wall Street Zen lowered Sony from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Wolfe Research restated a “peer perform” rating on shares of Sony in a research report on Monday, April 7th. Finally, The Goldman Sachs Group started coverage on shares of Sony in a research report on Tuesday, March 25th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

About Sony

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.