Parallel Advisors LLC Increases Stock Position in Sony Group Co. (NYSE:SONY)

Parallel Advisors LLC boosted its position in shares of Sony Group Co. (NYSE:SONY - Free Report) by 453.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,903 shares of the company's stock after buying an additional 32,694 shares during the quarter. Parallel Advisors LLC's holdings in Sony Group were worth $844,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Silicon Valley Capital Partners increased its holdings in Sony Group by 401.3% in the 4th quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company's stock valued at $25,000 after purchasing an additional 927 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Sony Group during the 4th quarter valued at about $26,000. Fairscale Capital LLC grew its position in Sony Group by 400.0% in the 4th quarter. Fairscale Capital LLC now owns 1,240 shares of the company's stock valued at $26,000 after acquiring an additional 992 shares in the last quarter. General Partner Inc. increased its stake in Sony Group by 400.0% during the fourth quarter. General Partner Inc. now owns 1,245 shares of the company's stock worth $26,000 after purchasing an additional 996 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Sony Group by 106.2% during the third quarter. Brown Brothers Harriman & Co. now owns 1,390 shares of the company's stock worth $134,000 after purchasing an additional 716 shares in the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. StockNews.com cut Sony Group from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Oppenheimer reiterated an "outperform" rating and issued a $33.00 price objective (up previously from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. Finally, Sanford C. Bernstein initiated coverage on shares of Sony Group in a research note on Thursday, January 16th. They set an "outperform" rating on the stock. One research analyst has 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 MarketBeat.com, Sony Group currently has an average rating of "Buy" and an average price target of $28.00.

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Sony Group Stock Performance

NYSE:SONY traded up $0.02 during mid-day trading on Monday, reaching $25.25. 13,638,991 shares of the stock were exchanged, compared to its average volume of 3,905,366. The stock has a market capitalization of $152.72 billion, a P/E ratio of 20.50, a P/E/G ratio of 9.95 and a beta of 0.91. Sony Group Co. has a 1 year low of $15.02 and a 1 year high of $25.64. The company has a 50 day simple moving average of $23.08 and a 200-day simple moving average of $18.95. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25.

Sony Group (NYSE:SONY - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.14. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. The business had revenue of $28.95 billion for the quarter, compared to analyst estimates of $24.32 billion. Analysts anticipate that Sony Group Co. will post 1.23 earnings per share for the current fiscal 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.