Sony Group Co. (NYSE:SONY) Shares Sold by Opes Wealth Management LLC

Opes Wealth Management LLC trimmed its position in Sony Group Co. (NYSE:SONY - Free Report) by 55.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,692 shares of the company's stock after selling 5,890 shares during the quarter. Opes Wealth Management LLC's holdings in Sony Group were worth $399,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its holdings in Sony Group by 107.9% in the fourth quarter. Russell Investments Group Ltd. now owns 1,297 shares of the company's stock valued at $123,000 after purchasing an additional 673 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Sony Group in the fourth quarter worth about $306,000. 9258 Wealth Management LLC acquired a new stake in Sony Group during the fourth quarter worth about $221,000. Axxcess Wealth Management LLC purchased a new position in Sony Group during the fourth quarter valued at approximately $231,000. Finally, National Bank of Canada FI lifted its holdings in Sony Group by 1.0% in the fourth quarter. National Bank of Canada FI now owns 51,500 shares of the company's stock valued at $4,798,000 after acquiring an additional 493 shares during the period. Institutional investors and hedge funds own 14.05% of the company's stock.

Analysts Set New Price Targets

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

Sony Group Price Performance

Shares of NYSE:SONY traded down $4.31 during trading on Friday, reaching $90.05. 972,984 shares of the company's stock traded hands, compared to its average volume of 650,973. The firm has a market cap of $111.14 billion, a PE ratio of 16.55 and a beta of 0.95. 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 quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 0.26. The company has a 50-day simple moving average of $90.27 and a 200-day simple moving average of $86.16.

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

Sony Group (NYSE:SONY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $1.22 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.11. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. The company had revenue of $19.32 billion for the quarter, compared to analyst estimates of $17.42 billion. As a group, analysts predict that Sony Group Co. will post 5.63 earnings per share for the current 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.