Pictet North America Advisors SA Purchases 813,429 Shares of Sony Group Co. (NYSE:SONY)

Pictet North America Advisors SA boosted its stake in Sony Group Co. (NYSE:SONY) by 333.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,057,404 shares of the company’s stock after acquiring an additional 813,429 shares during the quarter. Sony Group accounts for about 2.1% of Pictet North America Advisors SA’s portfolio, making the stock its 10th biggest holding. Pictet North America Advisors SA’s holdings in Sony Group were worth $22,375,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd grew its stake in Sony Group by 400.0% in the 4th quarter. Y.D. More Investments Ltd now owns 36,065 shares of the company’s stock valued at $763,000 after acquiring an additional 28,852 shares during the period. Fifth Third Bancorp lifted its holdings in Sony Group by 311.3% in the 4th quarter. Fifth Third Bancorp now owns 157,702 shares of the company’s stock valued at $3,337,000 after purchasing an additional 119,362 shares in the last quarter. Mitchell & Pahl Private Wealth LLC lifted its holdings in Sony Group by 430.0% in the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 40,336 shares of the company’s stock valued at $854,000 after purchasing an additional 32,725 shares in the last quarter. One Wealth Advisors LLC lifted its holdings in Sony Group by 400.9% in the 4th quarter. One Wealth Advisors LLC now owns 34,475 shares of the company’s stock valued at $729,000 after purchasing an additional 27,593 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in Sony Group by 39.2% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 103,473 shares of the company’s stock valued at $9,993,000 after purchasing an additional 29,165 shares in the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Wall Street Analyst Weigh In

SONY has been the topic of a number of research reports. Oppenheimer decreased their price objective on Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. StockNews.com lowered Sony Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Sanford C. Bernstein initiated coverage on Sony Group in a report on Thursday, January 16th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $24.00.

Sony Group Stock Up 5.4 %

Shares of SONY opened at $23.16 on Friday. The firm has a market cap of $140.07 billion, a P/E ratio of 18.95, a price-to-earnings-growth ratio of 11.46 and a beta of 0.96. Sony Group Co. has a 12-month low of $15.02 and a 12-month high of $24.03. The company’s 50-day moving average price is $21.40 and its 200 day moving average price is $14.98. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

Sony Group (NYSE:SONY) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.14. Sony Group had a net margin of 8.55% and a return on equity of 14.27%. On average, sell-side analysts forecast that Sony Group Co. will post 1.21 earnings per share for the current year.

Sony Group 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.