Commonwealth Equity Services LLC Increases Holdings in Sony Group Co. (NYSE:SONY)

Commonwealth Equity Services LLC grew its position in Sony Group Co. (NYSE:SONY - Free Report) by 402.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,105 shares of the company's stock after buying an additional 108,229 shares during the quarter. Commonwealth Equity Services LLC's holdings in Sony Group were worth $2,859,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. HBK Sorce Advisory LLC grew its stake in shares of Sony Group by 374.7% during the fourth quarter. HBK Sorce Advisory LLC now owns 26,828 shares of the company's stock worth $568,000 after acquiring an additional 21,176 shares during the last quarter. Bowen Hanes & Co. Inc. lifted its position in Sony Group by 400.0% during the fourth quarter. Bowen Hanes & Co. Inc. now owns 10,695 shares of the company's stock valued at $226,000 after purchasing an additional 8,556 shares during the period. Avantax Advisory Services Inc. boosted its holdings in Sony Group by 521.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 84,352 shares of the company's stock valued at $1,785,000 after purchasing an additional 70,781 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Sony Group by 190.9% in the fourth quarter. Farther Finance Advisors LLC now owns 11,844 shares of the company's stock valued at $251,000 after purchasing an additional 7,773 shares during the last quarter. Finally, Hollencrest Capital Management grew its position in Sony Group by 400.0% during the 4th quarter. Hollencrest Capital Management now owns 2,095 shares of the company's stock worth $44,000 after purchasing an additional 1,676 shares during the period. Institutional investors own 14.05% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SONY. Sanford C. Bernstein began coverage on Sony Group in a research note on Thursday, January 16th. They issued an "outperform" rating on the stock. StockNews.com lowered shares of Sony Group from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Oppenheimer reissued an "outperform" rating and set a $33.00 price target (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Finally, The Goldman Sachs Group began coverage on shares of Sony Group in a research report on Tuesday. They issued a "buy" rating for the company. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Sony Group has an average rating of "Buy" and a consensus target price of $28.00.

Sony Group Price Performance

NYSE SONY traded down $0.54 on Friday, hitting $25.11. The company had a trading volume of 5,571,122 shares, compared to its average volume of 3,973,475. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The company has a market capitalization of $151.83 billion, a PE ratio of 20.38, a PEG ratio of 9.95 and a beta of 0.91. Sony Group Co. has a 12-month low of $15.02 and a 12-month high of $25.78. The company's fifty day moving average price is $23.58 and its 200-day moving average price is $19.61.

Sony Group (NYSE:SONY - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping 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. As a group, analysts predict that Sony Group Co. will post 1.23 earnings per share 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.