10,785 Shares in Sony Group Co. (NYSE:SONY) Acquired by Independent Advisor Alliance

Independent Advisor Alliance bought a new position in shares of Sony Group Co. (NYSE:SONY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,785 shares of the company's stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC lifted its holdings in shares of Sony Group by 425.9% during the fourth quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company's stock worth $961,089,000 after buying an additional 36,783,737 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Sony Group in the fourth quarter worth $36,964,000. Cardinal Capital Management Inc. increased its position in shares of Sony Group by 403.7% in the fourth quarter. Cardinal Capital Management Inc. now owns 1,606,160 shares of the company's stock worth $33,986,000 after purchasing an additional 1,287,259 shares during the period. Cambiar Investors LLC increased its position in shares of Sony Group by 548.9% in the fourth quarter. Cambiar Investors LLC now owns 1,059,241 shares of the company's stock worth $22,414,000 after purchasing an additional 896,013 shares during the period. Finally, Pictet North America Advisors SA increased its position in shares of Sony Group by 333.4% in the fourth quarter. Pictet North America Advisors SA now owns 1,057,404 shares of the company's stock worth $22,375,000 after purchasing an additional 813,429 shares during the period. Institutional investors and hedge funds own 14.05% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts have issued reports on SONY shares. Sanford C. Bernstein started coverage on Sony Group in a research report on Thursday, January 16th. They issued an "outperform" rating on the stock. Oppenheimer reiterated an "outperform" rating and issued a $33.00 target price (up previously from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. Finally, StockNews.com cut Sony Group from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Sony Group has a consensus rating of "Buy" and a consensus price target of $28.00.

Sony Group Trading Up 1.5 %

Shares of SONY stock traded up $0.36 during mid-day trading on Friday, reaching $25.25. 24,505,021 shares of the stock traded hands, compared to its average volume of 3,866,277. The stock's fifty day simple moving average is $23.08 and its two-hundred day simple moving average is $18.85. Sony Group Co. has a 1-year low of $15.02 and a 1-year high of $25.64. The company has a market cap of $152.72 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91. 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 - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.14. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. The firm had revenue of $28.95 billion for the quarter, compared to analyst estimates of $24.32 billion. On average, research analysts anticipate that Sony Group Co. will post 1.23 EPS for the current fiscal 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.