&Partners Takes Position in Sony Group Co. (NYSE:SONY)
&Partners purchased a new position of 9,000 shares in Sony Group Co. during the second quarter, valued at approximately $497,000. Other investors such as Scharf Investments LLC and American National Bank also increased their stakes in Sony. Current ratings for Sony's stock include two holds and three buys, with an average target price indicating a "Moderate Buy" stance. Sony's stock experienced fluctuations with a recent trading volume of 102,675 shares. The company has a market cap of $84.82 billion and will undergo a 5-for-1 stock split on September 30.
&Partners purchased a new position in shares of Sony Group Co. (NYSE:SONY - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 9,000 shares of the company's stock, valued at approximately $765,000.
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Other large investors also recently added to or reduced their stakes in the company. Scharf Investments LLC raised its position in shares of Sony Group by 9.3% in the second quarter. Scharf Investments LLC now owns 20,029 shares of the company's stock valued at $1,701,000 after purchasing an additional 1,706 shares during the period. American National Bank grew its stake in Sony Group by 11.3% in the 2nd quarter. American National Bank now owns 1,172 shares of the company's stock valued at $100,000 after buying an additional 119 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in Sony Group during the 2nd quarter valued at $49,000. First Horizon Advisors Inc. lifted its position in shares of Sony Group by 5.1% during the second quarter. First Horizon Advisors Inc. now owns 4,030 shares of the company's stock worth $342,000 after acquiring an additional 194 shares in the last quarter. Finally, BTC Capital Management Inc. boosted its holdings in shares of Sony Group by 3.4% in the second quarter. BTC Capital Management Inc. now owns 13,755 shares of the company's stock worth $1,168,000 after acquiring an additional 452 shares during the period. Hedge funds and other institutional investors own 14.05% of the company's stock.
Analyst Ratings Changes
Separately, StockNews.com lowered Sony Group from a "buy" rating to a "hold" rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $108.00.
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Read Our Latest Report on Sony Group
Sony Group Price Performance
NYSE SONY traded up $0.93 on Friday, hitting $92.22. The stock had a trading volume of 102,675 shares, compared to its average volume of 843,511. The firm has a 50-day moving average of $87.37 and a 200-day moving average of $86.13. The company has a market capitalization of $113.82 billion, a price-to-earnings ratio of 16.78 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.47 and a current ratio of 0.63. Sony Group Co. has a 52-week low of $75.11 and a 52-week high of $100.88.
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Sony Group's stock is set to split on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly minted shares will be distributed to shareholders after the closing bell on Monday, September 30th.
Sony Group (NYSE:SONY - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.11 by $0.11. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. The business had revenue of $19.32 billion during the quarter, compared to analysts' expectations of $17.42 billion. Equities analysts expect that Sony Group Co. will post 5.68 EPS for the current year.
Sony Group Company Profile
(Free Report)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.
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