Frank Rimerman Advisors LLC Makes New $2.53 Million Investment in Sony Group Co. (NYSE:SONY)

Frank Rimerman Advisors LLC bought a new stake in shares of Sony Group Co. (NYSE:SONY) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 29,834 shares of the company’s stock, valued at approximately $2,534,000.

Other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN lifted its stake in shares of Sony Group by 4.7% in the 4th quarter. Wells Fargo & Company MN now owns 532,329 shares of the company’s stock valued at $50,406,000 after purchasing an additional 23,724 shares during the last quarter. US Bancorp DE raised its holdings in Sony Group by 75.3% during the 4th quarter. US Bancorp DE now owns 128,351 shares of the company’s stock valued at $12,154,000 after buying an additional 55,129 shares during the period. Ethic Inc. boosted its stake in Sony Group by 18.0% during the fourth quarter. Ethic Inc. now owns 119,939 shares of the company’s stock worth $11,357,000 after buying an additional 18,334 shares during the period. Ellsworth Advisors LLC purchased a new position in Sony Group during the second quarter worth $1,413,000. Finally, Harding Loevner LP raised its stake in shares of Sony Group by 2,206.6% in the fourth quarter. Harding Loevner LP now owns 2,280,016 shares of the company’s stock valued at $219,419,000 after acquiring an additional 2,181,169 shares during the period. Institutional investors own 14.05% of the company’s stock.

Analysts Set New Price Targets

SONY has been the subject of a number of recent analyst reports. Daiwa America raised shares of Sony Group to a “strong-buy” rating in a research note on Wednesday. StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.00.

Sony Group Stock Performance

SONY stock opened at $93.09 on Friday. Sony Group Co. has a 1-year low of $75.11 and a 1-year high of $100.88. The business has a 50-day moving average price of $90.94 and a 200 day moving average price of $86.57. The company has a market capitalization of $114.89 billion, a P/E ratio of 17.11 and a beta of 0.95. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47.

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

Sony Group (NYSE:SONY) last announced its quarterly 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 firm had revenue of $19.32 billion during the quarter, compared to analysts’ expectations of $17.42 billion. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. As a group, equities research analysts forecast that Sony Group Co. will post 5.63 EPS for the current fiscal year.

About Sony Group

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.