SVB Wealth LLC Takes Position in Sony Group Co. (NYSE:SONY)

SVB Wealth LLC bought a new stake in Sony Group Co. (NYSE:SONY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 25,414 shares of the company’s stock, valued at approximately $538,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Flputnam Investment Management Co. lifted its holdings in shares of Sony Group by 354.2% in the 4th quarter. Flputnam Investment Management Co. now owns 23,861 shares of the company’s stock valued at $505,000 after purchasing an additional 18,608 shares during the last quarter. Private Trust Co. NA boosted its stake in Sony Group by 474.7% during the 4th quarter. Private Trust Co. NA now owns 3,655 shares of the company’s stock worth $77,000 after purchasing an additional 3,019 shares during the period. Parkside Financial Bank & Trust boosted its stake in Sony Group by 1,612.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,832 shares of the company’s stock worth $39,000 after purchasing an additional 1,725 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych boosted its stake in Sony Group by 563.4% during the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 28,425 shares of the company’s stock worth $601,000 after purchasing an additional 24,140 shares during the period. Finally, QRG Capital Management Inc. boosted its stake in Sony Group by 485.3% during the 4th quarter. QRG Capital Management Inc. now owns 431,138 shares of the company’s stock worth $9,123,000 after purchasing an additional 357,475 shares during the period. 14.05% of the stock is owned by hedge funds and other institutional investors.

Sony Group Trading Down 1.8 %

NYSE SONY opened at $24.59 on Tuesday. The stock has a market capitalization of $148.71 billion, a P/E ratio of 19.96, a P/E/G ratio of 9.95 and a beta of 0.96. Sony Group Co. has a 52-week low of $15.02 and a 52-week high of $25.64. The firm has a 50-day moving average price of $22.20 and a 200 day moving average price of $16.94. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25.

Sony Group (NYSE:SONY) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.14. The firm had revenue of $28.95 billion during the quarter, compared to analysts’ expectations of $24.32 billion. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. Equities research analysts expect that Sony Group Co. will post 1.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Sanford C. Bernstein initiated coverage on Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating on the stock. Finally, Oppenheimer restated an “outperform” rating and set a $33.00 price target (up previously from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Sony Group has a consensus rating of “Buy” and an average target price of $28.00.

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.