Alberta Investment Management Corp Boosts Stock Position in Sony Group Co. (NYSE:SONY)

Alberta Investment Management Corp boosted its position in Sony Group Co. (NYSE:SONY - Free Report) by 255.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,000,000 shares of the company's stock after buying an additional 718,840 shares during the period. Alberta Investment Management Corp's holdings in Sony Group were worth $21,160,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SONY. Fiduciary Trust Co lifted its stake in shares of Sony Group by 13.4% during the 3rd quarter. Fiduciary Trust Co now owns 4,965 shares of the company's stock valued at $479,000 after buying an additional 585 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Sony Group by 14.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 4,629 shares of the company's stock valued at $447,000 after purchasing an additional 599 shares during the period. West Family Investments Inc. lifted its holdings in Sony Group by 13.0% during the 3rd quarter. West Family Investments Inc. now owns 5,422 shares of the company's stock worth $524,000 after purchasing an additional 623 shares in the last quarter. Waldron Private Wealth LLC boosted its position in shares of Sony Group by 3.3% in the third quarter. Waldron Private Wealth LLC now owns 19,763 shares of the company's stock valued at $1,909,000 after acquiring an additional 629 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its holdings in Sony Group by 106.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,390 shares of the company's stock valued at $134,000 after purchasing an additional 716 shares during the period. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Group Price Performance

Shares of SONY stock traded down $0.12 during trading hours on Friday, hitting $24.81. 5,046,949 shares of the company's stock were exchanged, compared to its average volume of 3,910,378. The company has a market capitalization of $150.01 billion, a PE ratio of 20.13, a PEG ratio of 9.98 and a beta of 0.96. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. Sony Group Co. has a 12-month low of $15.02 and a 12-month high of $25.29. The business's 50 day simple moving average is $21.68 and its 200-day simple moving average is $15.71.

Sony Group (NYSE:SONY - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $24.32 billion. On average, equities research analysts anticipate that Sony Group Co. will post 1.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SONY shares. Oppenheimer reaffirmed an "outperform" rating and issued a $33.00 price target (up previously from $25.00) on shares of Sony Group in a report on Thursday. StockNews.com downgraded Sony Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, November 19th. Finally, Sanford C. Bernstein assumed coverage on shares of Sony Group in a research report on Thursday, January 16th. They issued an "outperform" rating on the stock. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $28.00.

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.