538,250 Shares in Sony Group Co. (NYSE:SONY) Acquired by Norges Bank

Norges Bank acquired a new stake in Sony Group Co. (NYSE:SONY - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 538,250 shares of the company's stock, valued at approximately $11,389,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SONY. Blair William & Co. IL increased its position in shares of Sony Group by 378.0% during the fourth quarter. Blair William & Co. IL now owns 23,237 shares of the company's stock valued at $492,000 after buying an additional 18,376 shares during the period. Farley Capital L.P. grew its stake in Sony Group by 400.0% during the fourth quarter. Farley Capital L.P. now owns 23,250 shares of the company's stock valued at $492,000 after acquiring an additional 18,600 shares in the last quarter. Financial Counselors Inc. increased its holdings in Sony Group by 413.7% during the 4th quarter. Financial Counselors Inc. now owns 10,782 shares of the company's stock worth $228,000 after acquiring an additional 8,683 shares during the period. Summitry LLC lifted its stake in Sony Group by 512.6% in the 4th quarter. Summitry LLC now owns 16,774 shares of the company's stock worth $355,000 after purchasing an additional 14,036 shares in the last quarter. Finally, First American Trust FSB boosted its holdings in Sony Group by 378.3% in the 4th quarter. First American Trust FSB now owns 14,080 shares of the company's stock valued at $298,000 after purchasing an additional 11,136 shares during the period. Institutional investors own 14.05% of the company's stock.

Sony Group Price Performance

Shares of SONY traded up $0.03 during midday trading on Friday, reaching $22.95. The stock had a trading volume of 4,791,142 shares, compared to its average volume of 4,154,818. The company has a market capitalization of $138.81 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 9.95 and a beta of 0.94. 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 Co. has a 12-month low of $15.02 and a 12-month high of $25.78. The company's 50-day moving average is $23.94 and its 200 day moving average is $21.10.

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Sony Group (NYSE:SONY - Get Free Report) last issued its 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 business had revenue of $28.95 billion during the quarter, compared to analyst estimates of $24.32 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. On average, equities analysts predict that Sony Group Co. will post 1.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group began coverage on Sony Group in a research report on Tuesday, March 25th. They issued a "buy" rating on the stock. Wolfe Research reaffirmed a "peer perform" rating on shares of Sony Group in a report on Monday, April 7th. StockNews.com lowered Sony Group from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Sanford C. Bernstein started coverage on shares of Sony Group in a research note on Thursday, January 16th. They issued an "outperform" rating on the stock. Finally, Oppenheimer reiterated an "outperform" rating and set a $33.00 target price (up from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.00.

Sony Group 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.