Americana Partners LLC Sells 6,944 Shares of Sony Group Co. (NYSE:SONY)

Americana Partners LLC lessened its position in shares of Sony Group Co. (NYSE:SONY - Free Report) by 60.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,486 shares of the company's stock after selling 6,944 shares during the period. Americana Partners LLC's holdings in Sony Group were worth $381,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Fisher Asset Management LLC boosted its stake in shares of Sony Group by 5.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,359,171 shares of the company's stock valued at $602,150,000 after buying an additional 342,025 shares during the period. Mondrian Investment Partners LTD boosted its stake in shares of Sony Group by 43.4% in the first quarter. Mondrian Investment Partners LTD now owns 2,558,527 shares of the company's stock valued at $220,033,000 after buying an additional 774,502 shares during the period. Harding Loevner LP boosted its stake in shares of Sony Group by 2,206.6% in the fourth quarter. Harding Loevner LP now owns 2,280,016 shares of the company's stock valued at $219,419,000 after buying an additional 2,181,169 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Sony Group by 1.2% in the first quarter. Clearbridge Investments LLC now owns 1,616,928 shares of the company's stock valued at $138,635,000 after buying an additional 18,487 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Sony Group by 26.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,344,784 shares of the company's stock valued at $127,338,000 after buying an additional 277,537 shares during the period. Institutional investors own 14.05% of the company's stock.

Sony Group Price Performance

SONY traded up $0.75 during trading on Friday, hitting $97.56. 400,974 shares of the stock traded hands, compared to its average volume of 833,327. Sony Group Co. has a twelve month low of $75.11 and a twelve month high of $100.88. The company has a market cap of $120.41 billion, a price-to-earnings ratio of 17.93 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47. The business has a 50 day moving average price of $89.13 and a 200 day moving average price of $85.96.

Sony Group's stock is scheduled to split on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly created shares will be distributed to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.11. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The company had revenue of $19.32 billion for the quarter, compared to analysts' expectations of $17.42 billion. Equities research analysts forecast that Sony Group Co. will post 5.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Sony Group from a "buy" rating to a "hold" rating in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $108.00.

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.