Sony Group Co. (NYSE:SONY) Receives Consensus Rating of “Buy” from Analysts

Sony Group Co. (NYSE:SONY) has been assigned an average rating of “Buy” from the five ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $24.00.

Several research analysts have recently commented on the stock. TD Cowen lowered their target price on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Daiwa America raised shares of Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. Oppenheimer lowered their target price on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Finally, StockNews.com cut shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. American National Bank increased its stake in Sony Group by 11.3% in the second quarter. American National Bank now owns 1,172 shares of the company’s stock valued at $100,000 after acquiring an additional 119 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Sony Group by 1.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,656 shares of the company’s stock valued at $735,000 after buying an additional 124 shares in the last quarter. Belpointe Asset Management LLC boosted its position in Sony Group by 1.4% in the second quarter. Belpointe Asset Management LLC now owns 9,265 shares of the company’s stock valued at $787,000 after buying an additional 128 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its position in Sony Group by 1.7% in the second quarter. Dynamic Advisor Solutions LLC now owns 8,394 shares of the company’s stock valued at $713,000 after buying an additional 140 shares in the last quarter. Finally, Wealth Alliance boosted its position in Sony Group by 1.2% in the second quarter. Wealth Alliance now owns 11,977 shares of the company’s stock valued at $1,017,000 after buying an additional 141 shares in the last quarter. 14.05% of the stock is owned by institutional investors.

Sony Group Stock Up 1.9 %

Shares of SONY opened at $19.43 on Tuesday. Sony Group has a 12 month low of $15.02 and a 12 month high of $20.67. The firm’s 50 day moving average is $15.90 and its 200-day moving average is $7.86. The stock has a market capitalization of $117.48 billion, a PE ratio of 15.90, a P/E/G ratio of 12.07 and a beta of 0.95. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

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.