Hanson & Doremus Investment Management Boosts Stock Position in Sony Group Co. (NYSE:SONY)

Hanson & Doremus Investment Management grew its stake in shares of Sony Group Co. (NYSE:SONY - Free Report) by 385.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,960 shares of the company's stock after purchasing an additional 57,123 shares during the quarter. Hanson & Doremus Investment Management's holdings in Sony Group were worth $1,523,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SONY. General Partner Inc. lifted its stake in Sony Group by 400.0% in the fourth quarter. General Partner Inc. now owns 1,245 shares of the company's stock worth $26,000 after acquiring an additional 996 shares during the period. Hilltop National Bank boosted its stake in shares of Sony Group by 346.3% during the fourth quarter. Hilltop National Bank now owns 1,513 shares of the company's stock valued at $32,000 after purchasing an additional 1,174 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Sony Group by 400.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,505 shares of the company's stock valued at $32,000 after buying an additional 1,204 shares during the period. Rise Advisors LLC lifted its holdings in Sony Group by 399.1% during the fourth quarter. Rise Advisors LLC now owns 1,747 shares of the company's stock worth $37,000 after buying an additional 1,397 shares during the period. Finally, Pacific Capital Wealth Advisors Inc. boosted its position in Sony Group by 400.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 1,810 shares of the company's stock valued at $38,000 after acquiring an additional 1,448 shares in the last quarter. Hedge funds and other institutional investors own 14.05% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SONY. TD Cowen decreased their price objective on Sony Group from $107.00 to $23.00 and set a "buy" rating for the company in a research note on Friday, October 11th. StockNews.com lowered shares of Sony Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, November 19th. Sanford C. Bernstein assumed coverage on Sony Group in a research report on Thursday, January 16th. They set an "outperform" rating on the stock. Finally, Oppenheimer lowered their price objective on Sony Group from $108.00 to $25.00 and set an "outperform" rating for the company in a research report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Sony Group currently has an average rating of "Buy" and an average target price of $24.00.

Sony Group Stock Performance

SONY stock traded up $0.14 during midday trading on Thursday, reaching $22.27. The stock had a trading volume of 1,625,676 shares, compared to its average volume of 3,611,592. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. The firm has a fifty day simple moving average of $20.83 and a two-hundred day simple moving average of $13.61. The stock has a market cap of $134.65 billion, a PE ratio of 18.22, a P/E/G ratio of 13.02 and a beta of 0.95. Sony Group Co. has a 52-week low of $15.02 and a 52-week high of $22.71.

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.