NewEdge Wealth LLC Boosts Stock Position in Sony Group Co. (NYSE:SONY)

NewEdge Wealth LLC lifted its position in Sony Group Co. (NYSE:SONY) by 382.0% in the fourth quarter, Holdings Channel reports. The firm owned 102,499 shares of the company’s stock after buying an additional 81,235 shares during the period. NewEdge Wealth LLC’s holdings in Sony Group were worth $2,169,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Cardinal Capital Management Inc. boosted its stake in Sony Group by 403.7% in the 4th quarter. Cardinal Capital Management Inc. now owns 1,606,160 shares of the company’s stock worth $33,986,000 after purchasing an additional 1,287,259 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Sony Group by 12.7% during the 3rd quarter. Fisher Asset Management LLC now owns 8,636,355 shares of the company’s stock valued at $834,013,000 after purchasing an additional 972,075 shares in the last quarter. Cambiar Investors LLC grew its position in shares of Sony Group by 548.9% during the 4th quarter. Cambiar Investors LLC now owns 1,059,241 shares of the company’s stock valued at $22,414,000 after acquiring an additional 896,013 shares during the period. XY Capital Ltd increased its position in shares of Sony Group by 1,850.5% in the fourth quarter. XY Capital Ltd now owns 920,534 shares of the company’s stock valued at $19,478,000 after buying an additional 873,339 shares in the last quarter. Finally, Pictet North America Advisors SA raised its position in Sony Group by 333.4% during the fourth quarter. Pictet North America Advisors SA now owns 1,057,404 shares of the company’s stock worth $22,375,000 after acquiring an additional 813,429 shares during the period. Institutional investors own 14.05% of the company’s stock.

Analysts Set New Price Targets

SONY has been the topic of a number of research analyst reports. Sanford C. Bernstein initiated coverage on Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating on the stock. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Oppenheimer reissued an “outperform” rating and issued a $33.00 target price (up previously from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Sony Group has a consensus rating of “Buy” and an average target price of $28.00.

Sony Group Trading Up 0.1 %

NYSE:SONY opened at $25.05 on Friday. Sony Group Co. has a 12-month low of $15.02 and a 12-month high of $25.64. The firm has a market cap of $151.49 billion, a P/E ratio of 20.33, a PEG ratio of 9.95 and a beta of 0.96. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The stock’s 50 day simple moving average is $22.13 and its 200-day simple moving average is $16.70.

Sony Group (NYSE:SONY) last issued its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. The company had revenue of $28.95 billion during the quarter, compared to analysts’ expectations of $24.32 billion. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. Equities analysts anticipate that Sony Group Co. will post 1.23 EPS 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.