Itau Unibanco Holding S.A. Acquires 534 Shares of Sony Group Co. (NYSE:SONY)

Itau Unibanco Holding S.A. increased its holdings in Sony Group Co. (NYSE:SONY) by 14.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,176 shares of the company’s stock after acquiring an additional 534 shares during the period. Itau Unibanco Holding S.A.’s holdings in Sony Group were worth $355,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Sony Group during the second quarter valued at approximately $26,000. Sunbelt Securities Inc. bought a new position in shares of Sony Group during the first quarter valued at about $29,000. Rise Advisors LLC boosted its holdings in Sony Group by 259.2% during the first quarter. Rise Advisors LLC now owns 352 shares of the company’s stock worth $30,000 after purchasing an additional 254 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in Sony Group in the 2nd quarter valued at about $41,000. Finally, Family Firm Inc. bought a new position in shares of Sony Group during the 2nd quarter worth approximately $44,000. Institutional investors own 14.05% of the company’s stock.

Sony Group Price Performance

Shares of NYSE SONY opened at $93.09 on Monday. The firm has a market cap of $114.89 billion, a price-to-earnings ratio of 17.11 and a beta of 0.95. The stock has a fifty day simple moving average of $90.94 and a two-hundred day simple moving average of $86.57. The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 0.26. Sony Group Co. has a 1-year low of $75.11 and a 1-year high of $100.88.

Sony Group’s stock is scheduled to split on the morning of Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly minted shares will be issued to shareholders after the market closes 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 analysts’ consensus estimates of $1.11 by $0.11. The firm had revenue of $19.32 billion during the quarter, compared to analyst estimates of $17.42 billion. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. Analysts anticipate that Sony Group Co. will post 5.63 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Daiwa America raised Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Sony Group currently has an average rating of “Moderate Buy” and a consensus target price of $108.00.

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.