Sony Corporation (NYSE:SONY) Stock Position Lowered by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. lessened its position in Sony Corporation (NYSE:SONY) by 14.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 631,100 shares of the company’s stock after selling 103,267 shares during the period. Tocqueville Asset Management L.P.’s holdings in Sony were worth $16,024,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Analysts LLC raised its stake in shares of Sony by 400.0% in the 4th quarter. Capital Analysts LLC now owns 1,170 shares of the company’s stock worth $25,000 after buying an additional 936 shares in the last quarter. City Holding Co. acquired a new stake in shares of Sony during the first quarter worth $30,000. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Sony during the first quarter worth $31,000. Zions Bancorporation National Association UT acquired a new stake in shares of Sony during the first quarter worth $47,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Sony by 155.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,268 shares of the company’s stock worth $48,000 after purchasing an additional 1,380 shares during the period. Institutional investors own 14.05% of the company’s stock.

Sony Stock Up 3.6%

Shares of Sony stock opened at $28.73 on Friday. The stock’s fifty day moving average is $25.41 and its 200-day moving average is $24.74. The firm has a market capitalization of $173.75 billion, a PE ratio of 22.80 and a beta of 0.91. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 0.16. Sony Corporation has a 12-month low of $17.42 and a 12-month high of $29.16.

Sony (NYSE:SONY) last announced its earnings results on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. Sony had a return on equity of 13.88% and a net margin of 9.14%. The company had revenue of $17.79 billion for the quarter, compared to analyst estimates of $18.88 billion. During the same period in the previous year, the firm earned $189.90 earnings per share. Equities analysts anticipate that Sony Corporation will post 1.23 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Sony from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently 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.