SVB Wealth LLC Buys Shares of 25,414 Sony Group Co. (NYSE:SONY)

SVB Wealth LLC purchased a new position in shares of Sony Group Co. (NYSE:SONY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 25,414 shares of the company’s stock, valued at approximately $538,000.

Several other institutional investors have also modified their holdings of the company. Fiduciary Trust Co boosted its stake in shares of Sony Group by 13.4% during the 3rd quarter. Fiduciary Trust Co now owns 4,965 shares of the company’s stock worth $479,000 after acquiring an additional 585 shares in the last quarter. First Horizon Advisors Inc. grew its stake in Sony Group by 14.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 4,629 shares of the company’s stock valued at $447,000 after acquiring an additional 599 shares during the last quarter. West Family Investments Inc. grew its stake in Sony Group by 13.0% in the 3rd quarter. West Family Investments Inc. now owns 5,422 shares of the company’s stock valued at $524,000 after acquiring an additional 623 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in Sony Group by 106.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,390 shares of the company’s stock valued at $134,000 after acquiring an additional 716 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its stake in Sony Group by 23.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,993 shares of the company’s stock valued at $352,000 after acquiring an additional 751 shares during the last quarter. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Oppenheimer reissued an “outperform” rating and set a $33.00 price target (up previously from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. Finally, Sanford C. Bernstein began coverage on Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $28.00.

Sony Group Stock Performance

NYSE:SONY opened at $24.59 on Tuesday. The firm has a 50 day simple moving average of $22.20 and a 200-day simple moving average of $16.94. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The firm has a market cap of $148.71 billion, a PE ratio of 19.96, a P/E/G ratio of 9.95 and a beta of 0.96. Sony Group Co. has a 1-year low of $15.02 and a 1-year high of $25.64.

Sony Group (NYSE:SONY) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. The business had revenue of $28.95 billion during the quarter, compared to analyst estimates of $24.32 billion. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. On average, equities analysts expect that Sony Group Co. will post 1.23 EPS for the current 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.