NewEdge Advisors LLC Raises Stock Position in Sony Group Co. (NYSE:SONY)

NewEdge Advisors LLC increased its position in shares of Sony Group Co. (NYSE:SONY - Free Report) by 535.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,092 shares of the company's stock after buying an additional 40,529 shares during the period. NewEdge Advisors LLC's holdings in Sony Group were worth $1,018,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Silicon Valley Capital Partners grew its position in shares of Sony Group by 401.3% in the fourth 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 period. General Partner Inc. increased its stake in Sony Group by 400.0% during the 4th quarter. General Partner Inc. now owns 1,245 shares of the company's stock worth $26,000 after buying an additional 996 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Sony Group during the fourth quarter valued at approximately $26,000. Fairscale Capital LLC lifted its position in shares of Sony Group by 400.0% in the fourth 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. Finally, Accent Capital Management LLC boosted its stake in Sony Group by 400.0% during the 4th quarter. Accent Capital Management LLC now owns 1,380 shares of the company's stock worth $29,000 after purchasing an additional 1,104 shares during the last quarter. Institutional investors and hedge funds own 14.05% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SONY shares. Oppenheimer reissued an "outperform" rating and issued a $33.00 target price (up from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. The Goldman Sachs Group assumed coverage on Sony Group in a research note on Tuesday, March 25th. They set a "buy" rating on the stock. Sanford C. Bernstein started coverage on Sony Group in a research note on Thursday, January 16th. They issued an "outperform" rating for the company. Wolfe Research reissued a "peer perform" rating on shares of Sony Group in a research report on Monday, April 7th. Finally, StockNews.com cut shares of Sony Group from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $28.00.

Sony Group Trading Up 1.7 %

Shares of NYSE:SONY traded up $0.44 during midday trading on Tuesday, reaching $25.72. 5,070,769 shares of the company's stock were exchanged, compared to its average volume of 4,197,181. The stock has a market cap of $155.52 billion, a price-to-earnings ratio of 20.86, a P/E/G ratio of 9.95 and a beta of 0.94. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $25.90. The firm's 50 day simple moving average is $24.16 and its two-hundred day simple moving average is $21.73. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49.

Sony Group (NYSE:SONY - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $24.32 billion. As a group, sell-side analysts forecast that Sony Group Co. will post 1.23 EPS 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.