Sumitomo Mitsui Trust Group Inc. Acquires 676,701 Shares of Sony Group Co. (NYSE:SONY)

Sumitomo Mitsui Trust Group Inc. boosted its position in Sony Group Co. (NYSE:SONY) by 536.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 802,825 shares of the company’s stock after acquiring an additional 676,701 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Sony Group were worth $16,988,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. General Partner Inc. increased its stake in Sony Group by 400.0% in the fourth quarter. General Partner Inc. now owns 1,245 shares of the company’s stock valued at $26,000 after acquiring an additional 996 shares during the last quarter. Hilltop National Bank increased its stake in Sony Group by 346.3% in the fourth quarter. Hilltop National Bank now owns 1,513 shares of the company’s stock valued at $32,000 after acquiring an additional 1,174 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in Sony Group by 400.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,505 shares of the company’s stock valued at $32,000 after acquiring an additional 1,204 shares during the last quarter. Rise Advisors LLC increased its stake in Sony Group by 399.1% in the fourth quarter. Rise Advisors LLC now owns 1,747 shares of the company’s stock valued at $37,000 after acquiring an additional 1,397 shares during the last quarter. Finally, Pacific Capital Wealth Advisors Inc. increased its stake in Sony Group by 400.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 1,810 shares of the company’s stock valued at $38,000 after acquiring an additional 1,448 shares during the last quarter. 14.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Oppenheimer decreased their price objective on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Sanford C. Bernstein initiated coverage on shares of Sony Group in a research note on Thursday, January 16th. They set an “outperform” rating on the stock. 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. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Sony Group has an average rating of “Buy” and an average target price of $24.00.

Sony Group Price Performance

Shares of NYSE:SONY opened at $21.97 on Thursday. The firm has a market cap of $132.87 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 11.46 and a beta of 0.96. The firm’s fifty day moving average is $21.35 and its 200-day moving average is $14.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. Sony Group Co. has a 52 week low of $15.02 and a 52 week high of $23.05.

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.