Sagespring Wealth Partners LLC Boosts Stake in Sony Corporation (NYSE:SONY)

Sagespring Wealth Partners LLC grew its stake in Sony Corporation (NYSE:SONY) by 37.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 30,454 shares of the company’s stock after buying an additional 8,250 shares during the period. Sagespring Wealth Partners LLC’s holdings in Sony were worth $773,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Capital Analysts LLC raised its stake in Sony by 400.0% during the 4th quarter. Capital Analysts LLC now owns 1,170 shares of the company’s stock worth $25,000 after acquiring an additional 936 shares during the period. Fairscale Capital LLC raised its holdings in Sony by 400.0% during the fourth quarter. Fairscale Capital LLC now owns 1,240 shares of the company’s stock valued at $26,000 after acquiring an additional 992 shares during the period. Accent Capital Management LLC lifted its position in shares of Sony by 400.0% in the fourth quarter. Accent Capital Management LLC now owns 1,380 shares of the company’s stock valued at $29,000 after acquiring an additional 1,104 shares in the last quarter. City Holding Co. purchased a new stake in shares of Sony during the first quarter worth about $30,000. Finally, Paradigm Asset Management Co. LLC raised its stake in Sony by 400.0% during the 4th quarter. Paradigm Asset Management Co. LLC now owns 1,500 shares of the company’s stock valued at $32,000 after purchasing an additional 1,200 shares during the period. Institutional investors own 14.05% of the company’s stock.

Sony Trading Down 1.7%

Shares of SONY opened at $25.66 on Wednesday. The stock has a market capitalization of $155.15 billion, a PE ratio of 20.79, a P/E/G ratio of 12.62 and a beta of 0.96. The company’s fifty day moving average is $25.21 and its 200 day moving average is $23.49. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.57 and a current ratio of 0.70. Sony Corporation has a fifty-two week low of $15.86 and a fifty-two week high of $26.95.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SONY shares. Wall Street Zen cut shares of Sony from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Wolfe Research reiterated a “peer perform” rating on shares of Sony in a research note on Monday, April 7th. Oppenheimer restated an “outperform” rating and set a $33.00 price objective (up previously from $25.00) on shares of Sony in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group initiated coverage on Sony in a report on Tuesday, March 25th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.00.

About Sony

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.