Avantax Advisory Services Inc. Buys 70,781 Shares of Sony Group Co. (NYSE:SONY)

Avantax Advisory Services Inc. raised its stake in Sony Group Co. (NYSE:SONY) by 521.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 84,352 shares of the company’s stock after buying an additional 70,781 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Sony Group were worth $1,785,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC grew its position in shares of Sony Group by 425.9% in the 4th quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock worth $961,089,000 after buying an additional 36,783,737 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Sony Group in the fourth quarter worth $36,964,000. Cardinal Capital Management Inc. increased its position in shares of Sony Group by 403.7% during the fourth quarter. Cardinal Capital Management Inc. now owns 1,606,160 shares of the company’s stock worth $33,986,000 after purchasing an additional 1,287,259 shares in the last quarter. Cambiar Investors LLC lifted its holdings in shares of Sony Group by 548.9% during the 4th quarter. Cambiar Investors LLC now owns 1,059,241 shares of the company’s stock valued at $22,414,000 after purchasing an additional 896,013 shares during the last quarter. Finally, XY Capital Ltd boosted its position in shares of Sony Group by 1,850.5% in the 4th quarter. XY Capital Ltd now owns 920,534 shares of the company’s stock worth $19,478,000 after purchasing an additional 873,339 shares in the last quarter. 14.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SONY shares. Oppenheimer reaffirmed an “outperform” rating and set a $33.00 target price (up from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. Sanford C. Bernstein initiated coverage on shares of Sony Group in a research report on Thursday, January 16th. They issued an “outperform” rating for the company. Finally, StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $28.00.

Sony Group Trading Up 1.8 %

Sony Group stock opened at $24.54 on Tuesday. The stock has a 50-day moving average price of $22.74 and a 200 day moving average price of $18.36. The company has a market capitalization of $148.38 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91. Sony Group Co. has a 52 week low of $15.02 and a 52 week high of $25.64. 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 released its quarterly earnings data on Thursday, February 13th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.27 by $0.14. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. The business had revenue of $28.95 billion for the quarter, compared to the consensus estimate of $24.32 billion. Sell-side analysts anticipate that Sony Group Co. will post 1.23 EPS for the current 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.