Opes Wealth Management LLC Raises Holdings in Sony Group Co. (NYSE:SONY)

Opes Wealth Management LLC increased its position in Sony Group Co. (NYSE:SONY) by 111.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,582 shares of the company’s stock after acquiring an additional 5,572 shares during the period. Opes Wealth Management LLC’s holdings in Sony Group were worth $1,002,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of Sony Group by 27.2% in the 1st quarter. Bank of America Corp DE now owns 4,441,241 shares of the company’s stock worth $402,598,000 after acquiring an additional 949,271 shares during the period. Morgan Stanley grew its holdings in shares of Sony Group by 0.4% in the 3rd quarter. Morgan Stanley now owns 4,181,880 shares of the company’s stock worth $344,629,000 after acquiring an additional 15,415 shares during the period. BlackRock Inc. grew its holdings in Sony Group by 32.8% during the 2nd quarter. BlackRock Inc. now owns 3,519,201 shares of the company’s stock valued at $316,869,000 after buying an additional 869,957 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Sony Group by 11.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,283,236 shares of the company’s stock valued at $115,543,000 after buying an additional 130,410 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in Sony Group by 1.0% during the 3rd 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 during the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Group Trading Up 0.4 %

Shares of SONY stock traded up $0.31 during mid-day trading on Thursday, hitting $81.89. 447,010 shares of the company’s stock were exchanged, compared to its average volume of 784,273. The company has a quick ratio of 0.54, a current ratio of 0.69 and a debt-to-equity ratio of 0.25. The stock has a market cap of $101.07 billion, a price-to-earnings ratio of 15.81 and a beta of 0.98. The stock has a 50-day simple moving average of $87.07 and a two-hundred day simple moving average of $88.87. Sony Group Co. has a fifty-two week low of $79.62 and a fifty-two week high of $100.94.

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

Analysts Set New Price Targets

SONY has been the topic of a number of analyst reports. TheStreet upgraded Sony Group from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Oppenheimer reiterated an “outperform” rating and set a $108.00 target price on shares of Sony Group in a report on Monday, February 26th. StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a report on Monday, April 8th. Finally, Macquarie cut Sony Group from an “outperform” rating to a “neutral” rating in a report on Thursday, February 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $108.00.

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.