Sony Corp. (SNE) Stake Reduced by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management cut its stake in shares of Sony Corp. (NYSE:SNE) by 5.3% during the second quarter, Holdings Channel reports. The fund owned 47,900 shares of the company’s stock after selling 2,686 shares during the period. Hanson & Doremus Investment Management’s holdings in Sony Corp. were worth $1,406,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SNE. Checchi Capital Advisers LLC raised its position in Sony Corp. by 3.8% in the second quarter. Checchi Capital Advisers LLC now owns 7,559 shares of the company’s stock valued at $222,000 after buying an additional 274 shares during the last quarter. LPL Financial LLC raised its position in Sony Corp. by 0.5% in the first quarter. LPL Financial LLC now owns 59,199 shares of the company’s stock valued at $1,521,000 after buying an additional 282 shares during the last quarter. Creative Planning raised its position in Sony Corp. by 3.0% in the second quarter. Creative Planning now owns 13,622 shares of the company’s stock valued at $400,000 after buying an additional 402 shares during the last quarter. Geode Capital Management LLC raised its position in Sony Corp. by 14.1% in the first quarter. Geode Capital Management LLC now owns 12,397 shares of the company’s stock valued at $318,000 after buying an additional 1,536 shares during the last quarter. Finally, Baker Avenue Asset Management LP raised its position in Sony Corp. by 0.5% in the first quarter. Baker Avenue Asset Management LP now owns 298,458 shares of the company’s stock valued at $7,676,000 after buying an additional 1,538 shares during the last quarter. Institutional investors own 6.60% of the company’s stock.

Institutional Ownership by Quarter for Sony Corp. (NYSE:SNE)

Shares of Sony Corp. (NYSE:SNE) traded up 2.516% during midday trading on Tuesday, reaching $33.615. 342,011 shares of the company traded hands. The company’s 50 day moving average is $32.85 and its 200-day moving average is $29.71. Sony Corp. has a 12 month low of $19.90 and a 12 month high of $34.17. The stock has a market capitalization of $42.41 billion, a price-to-earnings ratio of 51.875 and a beta of 1.85.

Sony Corp. (NYSE:SNE) last issued its quarterly earnings results on Friday, July 29th. The company reported $16.44 EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $16.72. The business earned $1,613.20 billion during the quarter, compared to the consensus estimate of $1,682.98 billion. Sony Corp. had a net margin of 1.02% and a return on equity of 2.52%. The company’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $70.52 earnings per share. Equities research analysts forecast that Sony Corp. will post $0.63 earnings per share for the current fiscal year.

Several equities analysts have recently commented on the stock. TheStreet upgraded shares of Sony Corp. from a “hold” rating to a “buy” rating in a report on Thursday, August 11th. Vetr upgraded shares of Sony Corp. from a “hold” rating to a “buy” rating and set a $31.36 price objective on the stock in a report on Wednesday, July 13th. Zacks Investment Research upgraded shares of Sony Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 26th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Sony Corp. in a report on Thursday, June 30th. Finally, Deutsche Bank AG upgraded shares of Sony Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, July 6th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Sony Corp. presently has a consensus rating of “Buy” and an average price target of $37.25.

About Sony Corp.

Sony Corporation (Sony) is engaged in the development, design, manufacture and sale of various kinds of electronic equipment, instruments and devices for consumer, professional and industrial markets, as well as game consoles and software. The Company’s segments include Mobile Communications, Game & Network Services, Imaging Products & Solutions, Home Entertainment & Sound, Devices, Pictures, Music, Financial Services and All Other.

5 Day Chart for NYSE:SNE

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