Naviter Wealth LLC Grows Stock Holdings in Sony Corporation $SONY

Naviter Wealth LLC increased its stake in shares of Sony Corporation (NYSE:SONY) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 144,160 shares of the company’s stock after buying an additional 5,320 shares during the period. Naviter Wealth LLC’s holdings in Sony were worth $3,752,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. boosted its holdings in Sony by 17.6% during the second quarter. QRG Capital Management Inc. now owns 585,467 shares of the company’s stock worth $15,240,000 after buying an additional 87,649 shares in the last quarter. Compound Planning Inc. raised its position in Sony by 18.7% during the first quarter. Compound Planning Inc. now owns 97,259 shares of the company’s stock worth $2,469,000 after acquiring an additional 15,336 shares during the last quarter. BSW Wealth Partners raised its position in Sony by 87.0% during the first quarter. BSW Wealth Partners now owns 26,662 shares of the company’s stock worth $677,000 after acquiring an additional 12,404 shares during the last quarter. Mackenzie Financial Corp raised its position in Sony by 30.6% during the first quarter. Mackenzie Financial Corp now owns 481,381 shares of the company’s stock worth $12,222,000 after acquiring an additional 112,746 shares during the last quarter. Finally, Ballentine Partners LLC raised its position in Sony by 18.4% during the first quarter. Ballentine Partners LLC now owns 86,779 shares of the company’s stock worth $2,203,000 after acquiring an additional 13,493 shares during the last quarter. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Sony Stock Performance

NYSE:SONY opened at $28.86 on Tuesday. The firm has a 50 day simple moving average of $28.37 and a 200-day simple moving average of $26.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.09 and a quick ratio of 1.03. The firm has a market cap of $174.51 billion, a PE ratio of 22.90 and a beta of 0.95. Sony Corporation has a 1-year low of $17.42 and a 1-year high of $30.28.

Sony (NYSE:SONY) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The business had revenue of $17.79 billion during the quarter, compared to analyst estimates of $18.88 billion. Sony had a net margin of 9.14% and a return on equity of 13.88%. During the same quarter in the previous year, the business posted $189.90 earnings per share. Sony has set its FY 2025 guidance at EPS. On average, equities analysts expect that Sony Corporation will post 1.23 EPS for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Sony in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Sony 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.