Creative Planning Raises Position in Sony Group Co. (NYSE:SONY)

Creative Planning raised its holdings in shares of Sony Group Co. (NYSE:SONY - Free Report) by 2.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 284,636 shares of the company's stock after buying an additional 7,401 shares during the period. Creative Planning's holdings in Sony Group were worth $24,180,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Sony Group during the second quarter worth about $26,000. Sunbelt Securities Inc. purchased a new stake in shares of Sony Group during the first quarter worth about $29,000. Rise Advisors LLC raised its stake in Sony Group by 259.2% in the first quarter. Rise Advisors LLC now owns 352 shares of the company's stock worth $30,000 after buying an additional 254 shares in the last quarter. Ridgewood Investments LLC bought a new position in Sony Group in the second quarter worth about $41,000. Finally, Family Firm Inc. bought a new position in Sony Group in the second quarter worth about $44,000. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Sony Group Stock Up 0.5 %

Shares of NYSE:SONY traded up $0.47 during trading on Tuesday, reaching $97.04. 547,823 shares of the stock traded hands, compared to its average volume of 812,303. The stock has a 50-day moving average of $19.77 and a two-hundred day moving average of $17.93. Sony Group Co. has a 52-week low of $75.11 and a 52-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 stock has a market cap of $119.77 billion, a P/E ratio of 17.76 and a beta of 0.95.

Sony Group (NYSE:SONY - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. 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. As a group, sell-side analysts expect that Sony Group Co. will post 5.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Sony Group from a "buy" rating to a "hold" rating in a research note on Wednesday, August 21st. Daiwa America raised shares of Sony Group to a "strong-buy" rating in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $21.60.

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.