Sony Group Co. (NYSE:SONY) Shares Sold by SVB Wealth LLC

SVB Wealth LLC cut its stake in shares of Sony Group Co. (NYSE:SONY) by 10.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,679 shares of the company’s stock after selling 1,220 shares during the period. SVB Wealth LLC’s holdings in Sony Group were worth $1,011,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. CVA Family Office LLC purchased a new stake in Sony Group in the 4th quarter valued at approximately $27,000. KB Financial Partners LLC acquired a new stake in Sony Group in the 1st quarter valued at about $29,000. Fortitude Family Office LLC purchased a new position in shares of Sony Group during the 4th quarter worth approximately $31,000. Pinnacle Bancorp Inc. purchased a new position in Sony Group during the fourth quarter worth $39,000. Finally, Resurgent Financial Advisors LLC purchased a new stake in Sony Group during the 4th quarter worth about $43,000. 14.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SONY. Macquarie downgraded Sony Group from an “outperform” rating to a “neutral” rating in a report on Thursday, February 15th. StockNews.com lowered shares of Sony Group from a “buy” rating to a “hold” rating in a report on Monday, April 8th. Oppenheimer reiterated an “outperform” rating and issued a $108.00 target price on shares of Sony Group in a research note on Monday, February 26th. Finally, TheStreet raised shares of Sony Group from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.00.

Sony Group Stock Performance

Shares of Sony Group stock opened at $81.89 on Friday. The firm’s 50-day simple moving average is $87.07 and its 200-day simple moving average is $88.87. Sony Group Co. has a 1 year low of $79.62 and a 1 year high of $100.94. The firm has a market cap of $101.07 billion, a PE ratio of 15.81 and a beta of 0.98. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.54 and a current ratio of 0.69.

Sony Group (NYSE:SONY) last issued its earnings results on Wednesday, February 14th. The company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.32. Sony Group had a net margin of 7.62% and a return on equity of 12.43%. The company had revenue of $25.38 billion for the quarter, compared to analysts’ expectations of $24.31 billion. Equities analysts forecast that Sony Group Co. will post 5.21 earnings per share for the current fiscal 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.