Moors & Cabot Inc. Acquires 50,664 Shares of Sony Group Co. (NYSE:SONY)

Moors & Cabot Inc. raised its holdings in Sony Group Co. (NYSE:SONY - Free Report) by 453.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 61,826 shares of the company's stock after buying an additional 50,664 shares during the period. Moors & Cabot Inc.'s holdings in Sony Group were worth $1,308,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Fisher Asset Management LLC increased its stake in Sony Group by 425.9% in the 4th 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 last quarter. Raymond James Financial Inc. acquired a new stake in Sony Group in the 4th quarter valued at $36,964,000. Cardinal Capital Management Inc. increased its stake in Sony Group by 403.7% in the 4th 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 last quarter. Cambiar Investors LLC increased its stake in Sony Group by 548.9% in the 4th 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 last quarter. Finally, Pictet North America Advisors SA increased its stake in Sony Group by 333.4% in the 4th quarter. Pictet North America Advisors SA now owns 1,057,404 shares of the company's stock valued at $22,375,000 after buying an additional 813,429 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

SONY has been the topic of several recent research reports. Sanford C. Bernstein initiated coverage on shares of 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 research note on Tuesday, February 25th. Finally, Oppenheimer restated an "outperform" rating and set a $33.00 price objective (up from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. One 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.com, the stock has a consensus rating of "Buy" and an average price target of $28.00.

Sony Group Stock Performance

Shares of Sony Group stock traded up $0.70 during trading on Friday, hitting $24.11. 8,639,904 shares of the stock were exchanged, compared to its average volume of 3,690,987. The stock has a market capitalization of $145.78 billion, a price-to-earnings ratio of 19.57, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91. The company has a fifty day moving average price of $22.67 and a 200-day moving average price of $18.02. Sony Group Co. has a 1-year low of $15.02 and a 1-year high of $25.64. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

Sony Group (NYSE:SONY - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.14. The company 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%. As a group, equities analysts predict 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.