Sony Group Co. (NYSE:SONY) Holdings Lifted by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its stake in shares of Sony Group Co. (NYSE:SONY) by 407.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 604,314 shares of the company’s stock after purchasing an additional 485,260 shares during the period. Lazard Asset Management LLC’s holdings in Sony Group were worth $12,787,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Silicon Valley Capital Partners raised its position in shares of Sony Group by 401.3% during the fourth quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company’s stock worth $25,000 after purchasing an additional 927 shares during the period. Capital Analysts LLC raised its position in shares of Sony Group by 400.0% during the fourth quarter. Capital Analysts LLC now owns 1,170 shares of the company’s stock worth $25,000 after purchasing an additional 936 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in shares of Sony Group during the fourth quarter worth $26,000. Fairscale Capital LLC raised its position in shares of Sony Group by 400.0% during the fourth quarter. Fairscale Capital LLC now owns 1,240 shares of the company’s stock worth $26,000 after purchasing an additional 992 shares during the period. Finally, Accent Capital Management LLC raised its position in shares of Sony Group by 400.0% during the fourth quarter. Accent Capital Management LLC now owns 1,380 shares of the company’s stock worth $29,000 after purchasing an additional 1,104 shares during the period. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Group Stock Performance

Shares of SONY stock opened at $24.54 on Wednesday. Sony Group Co. has a 1-year low of $15.67 and a 1-year high of $26.08. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $148.41 billion, a price-to-earnings ratio of 19.92, a P/E/G ratio of 9.95 and a beta of 0.97. The stock’s fifty day simple moving average is $24.23 and its 200-day simple moving average is $22.23.

Sony Group (NYSE:SONY) last issued its 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 return on equity of 14.10% and a net margin of 8.21%. The firm had revenue of $28.95 billion for the quarter, compared to the consensus estimate of $24.32 billion. On average, sell-side analysts predict that Sony Group Co. will post 1.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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