Bank of America Corp DE Reduces Stock Position in Sony Group Co. (NYSE:SONY)

Bank of America Corp DE decreased its holdings in Sony Group Co. (NYSE:SONYGet Rating) by 1.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,126,454 shares of the company’s stock after selling 41,144 shares during the quarter. Bank of America Corp DE’s holdings in Sony Group were worth $423,828,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Advisory Services Network LLC boosted its holdings in shares of Sony Group by 58.1% in the first quarter. Advisory Services Network LLC now owns 10,392 shares of the company’s stock worth $1,067,000 after buying an additional 3,817 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Sony Group by 6.6% in the first quarter. Neuberger Berman Group LLC now owns 172,194 shares of the company’s stock worth $17,805,000 after buying an additional 10,644 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Sony Group by 6.8% in the first quarter. Capital Research Global Investors now owns 59,876 shares of the company’s stock worth $6,298,000 after buying an additional 3,789 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Sony Group by 828.9% in the first quarter. BNP Paribas Arbitrage SA now owns 18,048 shares of the company’s stock worth $1,854,000 after buying an additional 16,105 shares during the last quarter. Finally, Golden State Equity Partners purchased a new position in shares of Sony Group in the first quarter worth approximately $249,000. Hedge funds and other institutional investors own 7.69% of the company’s stock.

Wall Street Analyst Weigh In

SONY has been the topic of a number of research reports. TheStreet downgraded shares of Sony Group from a “b-” rating to a “c+” rating in a report on Tuesday, July 5th. Citigroup cut shares of Sony Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 5th. Macquarie upgraded shares of Sony Group from a “neutral” rating to an “outperform” rating in a research note on Friday, July 8th. Finally, The Goldman Sachs Group assumed coverage on shares of Sony Group in a research note on Wednesday, September 7th. They set a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $125.00.

Sony Group Trading Up 0.0 %

Sony Group stock opened at $71.88 on Monday. The firm’s 50 day moving average price is $82.31 and its 200-day moving average price is $88.09. Sony Group Co. has a 1 year low of $71.51 and a 1 year high of $133.75. The stock has a market cap of $88.92 billion, a P/E ratio of 11.76, a PEG ratio of 2.18 and a beta of 0.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.60 and a quick ratio of 0.47.

Sony Group (NYSE:SONYGet Rating) last announced its quarterly earnings results on Friday, July 29th. The company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.20. Sony Group had a net margin of 8.91% and a return on equity of 11.54%. The company had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $19.36 billion. On average, equities analysts predict that Sony Group Co. will post 5.09 earnings per share for the current fiscal year.

Sony Group Company Profile

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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 and portable game consoles, packaged software, and peripheral devices.

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Institutional Ownership by Quarter for Sony Group (NYSE:SONY)

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