Oppenheimer & Co. Inc. Cuts Position in Sony Corporation $SONY

Oppenheimer & Co. Inc. cut its stake in Sony Corporation (NYSE:SONYFree Report) by 13.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 176,877 shares of the company’s stock after selling 27,257 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Sony were worth $4,528,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Fisher Asset Management LLC increased its holdings in shares of Sony by 2.7% in the 3rd quarter. Fisher Asset Management LLC now owns 104,644,526 shares of the company’s stock valued at $3,128,924,000 after acquiring an additional 2,766,460 shares during the period. Mondrian Investment Partners LTD purchased a new position in shares of Sony in the 3rd quarter valued at $277,631,000. Capital International Investors increased its holdings in shares of Sony by 245.0% in the 3rd quarter. Capital International Investors now owns 6,049,618 shares of the company’s stock valued at $176,044,000 after acquiring an additional 4,296,028 shares during the period. Capital World Investors increased its holdings in shares of Sony by 0.4% in the 3rd quarter. Capital World Investors now owns 5,001,748 shares of the company’s stock valued at $144,021,000 after acquiring an additional 20,960 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Sony by 7,377.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,274 shares of the company’s stock valued at $97,145,000 after acquiring an additional 3,329,147 shares during the period. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Sony Price Performance

Shares of SONY stock opened at $19.81 on Friday. Sony Corporation has a fifty-two week low of $19.63 and a fifty-two week high of $30.34. The firm has a market capitalization of $117.82 billion, a price-to-earnings ratio of -99.02, a PEG ratio of 6.60 and a beta of 0.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.22. The stock’s 50-day simple moving average is $21.09 and its 200-day simple moving average is $24.39.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Zacks Research downgraded Sony from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings downgraded Sony from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, February 20th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $22.00 price target (down from $30.00) on shares of Sony in a report on Tuesday, March 17th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.00.

View Our Latest Analysis on SONY

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About Sony

(Free Report)

Sony Group Corporation (NYSE: SONY) is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.

Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.

Further Reading

Institutional Ownership by Quarter for Sony (NYSE:SONY)

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