Mitchell & Pahl Private Wealth LLC Increases Position in Sony Group Co. (NYSE:SONY)

Mitchell & Pahl Private Wealth LLC grew its position in Sony Group Co. (NYSE:SONY) by 8.9% during the third quarter, Holdings Channel.com reports. The firm owned 7,611 shares of the company’s stock after acquiring an additional 619 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in Sony Group were worth $735,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. American National Bank raised its holdings in Sony Group by 11.3% during the second quarter. American National Bank now owns 1,172 shares of the company’s stock worth $100,000 after purchasing an additional 119 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Sony Group by 1.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,656 shares of the company’s stock valued at $735,000 after acquiring an additional 124 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in Sony Group by 20.6% in the first quarter. Hexagon Capital Partners LLC now owns 749 shares of the company’s stock valued at $64,000 after acquiring an additional 128 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in shares of Sony Group by 1.4% during the second quarter. Belpointe Asset Management LLC now owns 9,265 shares of the company’s stock worth $787,000 after purchasing an additional 128 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC increased its position in shares of Sony Group by 1.7% during the second quarter. Dynamic Advisor Solutions LLC now owns 8,394 shares of the company’s stock worth $713,000 after purchasing an additional 140 shares in the last quarter. 14.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SONY. TD Cowen dropped their price target on Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Daiwa America raised shares of Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.30.

Sony Group Stock Performance

Shares of SONY stock traded down $0.15 during midday trading on Thursday, hitting $18.53. The company had a trading volume of 470,818 shares, compared to its average volume of 3,959,392. Sony Group Co. has a 52-week low of $15.02 and a 52-week high of $20.18. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47. The company’s 50 day simple moving average is $29.33 and its 200 day simple moving average is $21.25. The stock has a market cap of $22.87 billion, a price-to-earnings ratio of 3.43 and a beta of 0.94.

Sony Group (NYSE:SONY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The company had revenue of $19.32 billion for the quarter, compared to analysts’ expectations of $17.42 billion. Research analysts anticipate that Sony Group Co. will post 0.61 earnings per share for the current fiscal 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.