Wilbanks Smith & Thomas Asset Management LLC Cuts Position in Sony Group Co. (NYSE:SONY)

Wilbanks Smith & Thomas Asset Management LLC lowered its position in Sony Group Co. (NYSE:SONY) by 29.8% in the fourth quarter, Holdings Channel reports. The fund owned 2,359 shares of the company’s stock after selling 1,003 shares during the period. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Sony Group were worth $223,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its holdings in shares of Sony Group by 39.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,067,247 shares of the company’s stock valued at $87,952,000 after acquiring an additional 299,300 shares during the last quarter. Alberta Investment Management Corp increased its stake in Sony Group by 30.0% in the third quarter. Alberta Investment Management Corp now owns 260,000 shares of the company’s stock valued at $21,427,000 after purchasing an additional 60,000 shares during the last quarter. Rovida Advisors Inc. purchased a new position in Sony Group in the third quarter valued at approximately $4,433,000. SG Americas Securities LLC raised its holdings in Sony Group by 2,317.1% during the fourth quarter. SG Americas Securities LLC now owns 54,143 shares of the company’s stock worth $5,127,000 after purchasing an additional 51,903 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in shares of Sony Group during the 3rd quarter worth approximately $3,494,000. Institutional investors and hedge funds own 14.05% of the company’s stock.

Analyst Ratings Changes

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

Sony Group Trading Up 0.5 %

Shares of SONY stock opened at $84.54 on Friday. Sony Group Co. has a twelve month low of $79.62 and a twelve month high of $100.94. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $85.24 and its two-hundred day moving average is $88.78. The company has a market capitalization of $104.34 billion, a P/E ratio of 16.32 and a beta of 0.95.

Sony Group (NYSE:SONY) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 7.62% and a return on equity of 12.43%. Equities analysts forecast that Sony Group Co. will post 5.22 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.