Wealth Alliance Increases Stock Holdings in Sony Group Co. (NYSE:SONY)

Wealth Alliance boosted its position in Sony Group Co. (NYSE:SONY) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,425 shares of the company’s stock after purchasing an additional 254 shares during the quarter. Wealth Alliance’s holdings in Sony Group were worth $1,177,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Keel Point LLC raised its stake in Sony Group by 20.8% in the 4th quarter. Keel Point LLC now owns 5,035 shares of the company’s stock valued at $477,000 after purchasing an additional 866 shares during the last quarter. Waldron Private Wealth LLC raised its stake in Sony Group by 1.3% in the 4th quarter. Waldron Private Wealth LLC now owns 19,354 shares of the company’s stock valued at $1,832,000 after purchasing an additional 242 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Sony Group by 12.6% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 113,113 shares of the company’s stock worth $10,711,000 after acquiring an additional 12,627 shares during the last quarter. Simplicity Solutions LLC increased its stake in shares of Sony Group by 63.1% in the 4th quarter. Simplicity Solutions LLC now owns 9,341 shares of the company’s stock worth $884,000 after acquiring an additional 3,613 shares during the last quarter. Finally, Live Oak Private Wealth LLC increased its stake in shares of Sony Group by 0.4% in the 4th quarter. Live Oak Private Wealth LLC now owns 76,119 shares of the company’s stock worth $7,208,000 after acquiring an additional 333 shares during the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. TheStreet raised Sony Group from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Macquarie downgraded Sony Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 15th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $108.00 target price on shares of Sony Group in a research note on Monday, February 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Sony Group has a consensus rating of “Moderate Buy” and a consensus target price of $108.00.

Sony Group Stock Performance

NYSE SONY opened at $82.97 on Wednesday. The stock has a market cap of $102.40 billion, a PE ratio of 16.02 and a beta of 0.98. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.25. Sony Group Co. has a twelve month low of $79.62 and a twelve month high of $100.94. The stock has a fifty day simple moving average of $87.67 and a 200-day simple moving average of $88.97.

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

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.