Cetera Investment Advisers Has $3.64 Million Stock Position in Sony Group Co. (NYSE:SONY)

Cetera Investment Advisers raised its holdings in shares of Sony Group Co. (NYSE:SONY) by 27.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,795 shares of the company’s stock after purchasing an additional 9,300 shares during the quarter. Cetera Investment Advisers’ holdings in Sony Group were worth $3,635,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Sony Group in the second quarter worth $26,000. Sunbelt Securities Inc. purchased a new stake in Sony Group during the 1st quarter worth about $29,000. Rise Advisors LLC boosted its holdings in Sony Group by 259.2% in the 1st quarter. Rise Advisors LLC now owns 352 shares of the company’s stock valued at $30,000 after purchasing an additional 254 shares during the period. Ridgewood Investments LLC purchased a new position in Sony Group during the second quarter worth about $41,000. Finally, Family Firm Inc. purchased a new stake in shares of Sony Group in the 2nd quarter valued at about $44,000. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Group Price Performance

NYSE:SONY opened at $18.85 on Friday. The firm has a market capitalization of $23.27 billion, a price-to-earnings ratio of 3.47 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47. The business has a 50 day simple moving average of $29.15 and a 200-day simple moving average of $21.18. Sony Group Co. has a 1 year low of $15.02 and a 1 year high of $20.18.

Sony Group (NYSE:SONY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The company had revenue of $19.32 billion for the quarter, compared to the consensus estimate of $17.42 billion. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. Equities analysts forecast that Sony Group Co. will post 3.03 EPS for the current year.

Analysts Set New Price Targets

SONY has been the subject of a number of research reports. Daiwa America upgraded Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. StockNews.com raised Sony Group from a “hold” rating to a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating, four have assigned 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 “Buy” and a consensus price target of $21.60.

Sony Group 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.