Sony Group Co. (NYSE:SONY) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. lowered its position in Sony Group Co. (NYSE:SONY) by 14.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,606 shares of the company’s stock after selling 4,499 shares during the period. Vontobel Holding Ltd.’s holdings in Sony Group were worth $2,473,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ellsworth Advisors LLC acquired a new stake in shares of Sony Group during the 2nd quarter valued at approximately $1,413,000. Creative Planning lifted its position in shares of Sony Group by 2.7% during the 2nd quarter. Creative Planning now owns 284,636 shares of the company’s stock valued at $24,180,000 after acquiring an additional 7,401 shares during the period. Blue Trust Inc. lifted its position in shares of Sony Group by 279.8% during the 2nd quarter. Blue Trust Inc. now owns 3,445 shares of the company’s stock valued at $295,000 after acquiring an additional 2,538 shares during the period. Ritholtz Wealth Management lifted its position in shares of Sony Group by 27.1% during the 2nd quarter. Ritholtz Wealth Management now owns 24,840 shares of the company’s stock valued at $2,110,000 after acquiring an additional 5,296 shares during the period. Finally, Rise Advisors LLC lifted its position in shares of Sony Group by 259.2% during the 1st quarter. Rise Advisors LLC now owns 352 shares of the company’s stock valued at $30,000 after acquiring an additional 254 shares during the period. Institutional investors and hedge funds own 14.05% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SONY shares. TD Cowen dropped their price objective on shares of 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 cut shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Daiwa America raised shares of Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. Two analysts have 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 data from MarketBeat.com, Sony Group currently has an average rating of “Moderate Buy” and a consensus target price of $22.30.

Sony Group Stock Down 1.6 %

SONY stock opened at $18.21 on Friday. The stock has a market capitalization of $22.48 billion, a P/E ratio of 3.35 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.47 and a current ratio of 0.63. Sony Group Co. has a one year low of $15.02 and a one year high of $20.18. The company has a 50 day moving average price of $29.39 and a two-hundred day moving average price of $21.24.

Sony Group (NYSE:SONY) last released its earnings results on Wednesday, August 7th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $19.32 billion during the quarter, compared to analysts’ expectations of $17.42 billion. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. As a group, sell-side analysts expect that Sony Group Co. will post 0.6 EPS for the current year.

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.