Raymond James & Associates Sells 24,045 Shares of Sony Group Co. (NYSE:SONY)

Raymond James & Associates reduced its position in shares of Sony Group Co. (NYSE:SONY - Free Report) by 8.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 275,260 shares of the company's stock after selling 24,045 shares during the period. Raymond James & Associates' holdings in Sony Group were worth $23,383,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Sony Group in the second quarter valued at $26,000. Sunbelt Securities Inc. purchased a new stake in Sony Group in the 1st quarter valued at about $29,000. Rise Advisors LLC raised its holdings in Sony Group by 259.2% in the 1st quarter. Rise Advisors LLC now owns 352 shares of the company's stock valued at $30,000 after buying an additional 254 shares during the period. Pacific Capital Wealth Advisors Inc. acquired a new position in Sony Group in the fourth quarter valued at about $34,000. Finally, JFS Wealth Advisors LLC boosted its stake in Sony Group by 24.8% during the fourth quarter. JFS Wealth Advisors LLC now owns 544 shares of the company's stock worth $52,000 after buying an additional 108 shares during the period. 14.05% of the stock is owned by hedge funds and other institutional investors.

Sony Group Trading Down 1.6 %

Shares of NYSE SONY traded down $1.49 during trading on Thursday, reaching $91.30. The stock had a trading volume of 630,633 shares, compared to its average volume of 848,078. The business's 50-day moving average price is $87.37 and its 200-day moving average price is $86.13. Sony Group Co. has a fifty-two week low of $75.11 and a fifty-two week high of $100.88. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.47 and a current ratio of 0.63. The company has a market cap of $112.68 billion, a P/E ratio of 16.78 and a beta of 0.94.

Shares of Sony Group are going to split before the market opens on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly minted shares will be distributed to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.11 by $0.11. The business had revenue of $19.32 billion during the quarter, compared to the consensus estimate of $17.42 billion. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. On average, equities research analysts predict that Sony Group Co. will post 5.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Sony Group from a "buy" rating to a "hold" rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $108.00.

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.