HighTower Advisors LLC Raises Stock Position in Sony Group Co. (NYSE:SONY)

HighTower Advisors LLC boosted its position in shares of Sony Group Co. (NYSE:SONY - Free Report) by 418.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 224,623 shares of the company's stock after buying an additional 181,282 shares during the quarter. HighTower Advisors LLC's holdings in Sony Group were worth $4,753,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SONY. Fisher Asset Management LLC grew its position in Sony Group by 425.9% during the fourth quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company's stock valued at $961,089,000 after buying an additional 36,783,737 shares during the period. Raymond James Financial Inc. acquired a new stake in Sony Group during the fourth quarter valued at $36,964,000. Cardinal Capital Management Inc. grew its position in Sony Group by 403.7% during the fourth quarter. Cardinal Capital Management Inc. now owns 1,606,160 shares of the company's stock valued at $33,986,000 after buying an additional 1,287,259 shares during the period. Cambiar Investors LLC grew its position in Sony Group by 548.9% during the fourth quarter. Cambiar Investors LLC now owns 1,059,241 shares of the company's stock valued at $22,414,000 after buying an additional 896,013 shares during the period. Finally, XY Capital Ltd grew its position in shares of Sony Group by 1,850.5% in the fourth quarter. XY Capital Ltd now owns 920,534 shares of the company's stock valued at $19,478,000 after purchasing an additional 873,339 shares during the period. Institutional investors and hedge funds own 14.05% of the company's stock.

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Analyst Ratings Changes

SONY has been the topic of several research analyst reports. Sanford C. Bernstein initiated coverage on shares of 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 lowered shares of Sony Group from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. One 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 data from MarketBeat, Sony Group has a consensus rating of "Buy" and an average target price of $28.00.

Sony Group Price Performance

SONY traded up $0.36 on Friday, reaching $25.25. 24,505,021 shares of the company's stock were exchanged, compared to its average volume of 3,866,277. The stock has a market cap of $152.72 billion, a PE ratio of 20.50, a P/E/G ratio of 9.95 and a beta of 0.91. Sony Group Co. has a twelve month low of $15.02 and a twelve month high of $25.64. The stock's fifty day moving average price is $23.08 and its 200-day moving average price is $18.85. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49.

Sony Group (NYSE:SONY - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.14. The firm had revenue of $28.95 billion for the quarter, compared to analyst estimates of $24.32 billion. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. Sell-side analysts expect that Sony Group Co. will post 1.23 EPS 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.