Wealth Alliance Boosts Stake in Sony Group Co. (NYSE:SONY)

Wealth Alliance boosted its stake in Sony Group Co. (NYSE:SONY) by 1.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,977 shares of the company’s stock after buying an additional 141 shares during the quarter. Wealth Alliance’s holdings in Sony Group were worth $1,017,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SONY. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Sony Group in the 2nd quarter valued at approximately $26,000. Sunbelt Securities Inc. purchased a new stake in Sony Group in the 1st quarter valued at approximately $29,000. Rise Advisors LLC lifted its stake in Sony Group by 259.2% in the 1st quarter. Rise Advisors LLC now owns 352 shares of the company’s stock valued at $30,000 after buying an additional 254 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in Sony Group in the 2nd quarter valued at approximately $41,000. Finally, Family Firm Inc. purchased a new stake in Sony Group in the 2nd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Sony Group Trading Down 0.1 %

Shares of Sony Group stock opened at $90.49 on Thursday. Sony Group Co. has a fifty-two week low of $75.11 and a fifty-two week high of $100.88. The firm has a market cap of $111.68 billion, a PE ratio of 16.63 and a beta of 0.95. The business’s fifty day moving average is $91.05 and its two-hundred day moving average is $86.47. The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 0.26.

Shares of Sony Group are set to split on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly created shares will be issued to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY) last issued its earnings results on Wednesday, August 7th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.11. The business had revenue of $19.32 billion for the quarter, compared to analyst estimates of $17.42 billion. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. Analysts anticipate that Sony Group Co. will post 5.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Sony Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.00.

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.