Sagespring Wealth Partners LLC Acquires New Position in Sony Group Co. (NYSE:SONY)

Sagespring Wealth Partners LLC bought a new position in shares of Sony Group Co. (NYSE:SONY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 22,204 shares of the company’s stock, valued at approximately $470,000.

Several other large investors have also added to or reduced their stakes in SONY. M&T Bank Corp lifted its stake in shares of Sony Group by 1.9% during the 3rd quarter. M&T Bank Corp now owns 80,858 shares of the company’s stock valued at $7,808,000 after buying an additional 1,489 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of Sony Group in the third quarter valued at about $2,073,000. Wilmington Savings Fund Society FSB bought a new position in shares of Sony Group in the third quarter worth about $287,000. Tidal Investments LLC purchased a new stake in shares of Sony Group during the third quarter worth about $244,000. Finally, Synovus Financial Corp raised its stake in Sony Group by 2.4% during the 3rd quarter. Synovus Financial Corp now owns 50,514 shares of the company’s stock valued at $4,878,000 after purchasing an additional 1,177 shares during the period. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Sony Group Price Performance

SONY stock opened at $23.68 on Wednesday. Sony Group Co. has a 52 week low of $15.02 and a 52 week high of $25.78. The firm has a market capitalization of $143.18 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 9.95 and a beta of 0.94. The company has a fifty day simple moving average of $23.97 and a two-hundred day simple moving average of $21.38. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25.

Sony Group (NYSE:SONY) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.41 EPS 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 firm had revenue of $28.95 billion during the quarter, compared to the consensus estimate of $24.32 billion. Analysts anticipate that Sony Group Co. will post 1.23 earnings per share 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.