10,785 Shares in Sony Group Co. (NYSE:SONY) Bought by Independent Advisor Alliance

Independent Advisor Alliance bought a new stake in Sony Group Co. (NYSE:SONY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,785 shares of the company’s stock, valued at approximately $228,000.

Other institutional investors have also recently bought and sold shares of the company. Pathstone Holdings LLC increased its position in Sony Group by 1.8% during the 3rd quarter. Pathstone Holdings LLC now owns 57,661 shares of the company’s stock worth $5,568,000 after purchasing an additional 1,045 shares in the last quarter. OneAscent Financial Services LLC acquired a new position in shares of Sony Group during the third quarter worth $208,000. Commerce Bank bought a new position in shares of Sony Group in the 3rd quarter valued at $231,000. First Horizon Advisors Inc. boosted its holdings 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 acquiring an additional 599 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Sony Group by 25.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 79,211 shares of the company’s stock worth $7,649,000 after acquiring an additional 16,073 shares during the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Group Price Performance

Shares of SONY opened at $24.96 on Thursday. The business has a 50-day moving average of $22.90 and a 200-day moving average of $18.55. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The company has a market capitalization of $150.92 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91. Sony Group Co. has a 1 year low of $15.02 and a 1 year high of $25.64.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) 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 firm had revenue of $28.95 billion during the quarter, compared to analyst estimates of $24.32 billion. As a group, equities research analysts anticipate that Sony Group Co. will post 1.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Oppenheimer reissued an “outperform” rating and set a $33.00 price target (up from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. StockNews.com lowered shares of Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Sanford C. Bernstein assumed coverage on shares of Sony Group in a research note on Thursday, January 16th. They set an “outperform” rating for the company. One investment analyst has 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 MarketBeat, the company 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.