First Horizon Advisors Inc. Increases Stake in Sony Group Co. (NYSE:SONY)

First Horizon Advisors Inc. increased its stake in Sony Group Co. (NYSE:SONY) by 9.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,759 shares of the company’s stock after acquiring an additional 327 shares during the period. First Horizon Advisors Inc.’s holdings in Sony Group were worth $356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SONY. Gallacher Capital Management LLC grew its holdings in shares of Sony Group by 3.9% during the 3rd quarter. Gallacher Capital Management LLC now owns 3,215 shares of the company’s stock worth $265,000 after purchasing an additional 121 shares during the period. Contravisory Investment Management Inc. boosted its position in Sony Group by 6.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 1,979 shares of the company’s stock valued at $187,000 after buying an additional 127 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Sony Group by 4.1% during the third quarter. Brighton Jones LLC now owns 3,308 shares of the company’s stock valued at $273,000 after acquiring an additional 129 shares in the last quarter. PDS Planning Inc increased its position in shares of Sony Group by 2.3% during the fourth quarter. PDS Planning Inc now owns 6,231 shares of the company’s stock worth $590,000 after acquiring an additional 138 shares during the last quarter. Finally, Lido Advisors LLC lifted its stake in shares of Sony Group by 3.4% in the third quarter. Lido Advisors LLC now owns 4,586 shares of the company’s stock worth $378,000 after acquiring an additional 149 shares in the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Group Stock Up 0.5 %

Shares of Sony Group stock opened at $84.54 on Monday. The stock has a market capitalization of $104.34 billion, a price-to-earnings ratio of 16.32 and a beta of 0.95. Sony Group Co. has a twelve month low of $79.62 and a twelve month high of $100.94. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.25. The business’s 50 day simple moving average is $85.24 and its 200-day simple moving average is $88.84.

Sony Group (NYSE:SONY) last issued its earnings results on Wednesday, February 14th. The company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.32. Sony Group had a return on equity of 12.43% and a net margin of 7.62%. The firm had revenue of $25.38 billion for the quarter, compared to analyst estimates of $24.31 billion. Equities research analysts forecast that Sony Group Co. will post 5.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on SONY. TheStreet raised Sony Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Macquarie lowered Sony Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 15th. Oppenheimer restated an “outperform” rating and set a $108.00 price objective on shares of Sony Group in a research note on Monday, February 26th. Finally, StockNews.com lowered shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $108.00.

About Sony Group

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.