Oppenheimer Asset Management Inc. Buys 384,243 Shares of Sony Group Co. (NYSE:SONY)

Oppenheimer Asset Management Inc. raised its stake in Sony Group Co. (NYSE:SONY) by 384.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 484,137 shares of the company’s stock after purchasing an additional 384,243 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Sony Group were worth $10,244,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Whipplewood Advisors LLC bought a new stake in shares of Sony Group in the fourth quarter valued at about $42,000. NewEdge Wealth LLC raised its holdings in Sony Group by 382.0% in the 4th quarter. NewEdge Wealth LLC now owns 102,499 shares of the company’s stock valued at $2,169,000 after acquiring an additional 81,235 shares in the last quarter. Checchi Capital Advisers LLC lifted its position in shares of Sony Group by 404.5% in the 4th quarter. Checchi Capital Advisers LLC now owns 28,086 shares of the company’s stock worth $594,000 after acquiring an additional 22,519 shares during the period. Bryn Mawr Capital Management LLC grew its holdings in shares of Sony Group by 389.5% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 11,191 shares of the company’s stock worth $237,000 after purchasing an additional 8,905 shares in the last quarter. Finally, Argonautica Private Wealth Management Inc. increased its position in shares of Sony Group by 401.3% during the fourth quarter. Argonautica Private Wealth Management Inc. now owns 16,404 shares of the company’s stock valued at $347,000 after purchasing an additional 13,132 shares during the period. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Sony Group Stock Down 1.7 %

Shares of NYSE:SONY opened at $25.04 on Friday. The company’s fifty day moving average is $22.05 and its 200-day moving average is $16.46. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. Sony Group Co. has a 52 week low of $15.02 and a 52 week high of $25.64. The company has a market capitalization of $151.40 billion, a PE ratio of 20.32, a P/E/G ratio of 9.95 and a beta of 0.96.

Sony Group (NYSE:SONY) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping 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 firm had revenue of $28.95 billion for the quarter, compared to analysts’ expectations of $24.32 billion. Equities research analysts predict that Sony Group Co. will post 1.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SONY has been the topic of a number of recent research reports. Oppenheimer reiterated an “outperform” rating and set a $33.00 price target (up previously from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. StockNews.com lowered shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Sanford C. Bernstein assumed coverage on shares of Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $28.00.

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.