Prime Capital Investment Advisors LLC Acquires New Position in Sony Group Co. (NYSE:SONY)

Prime Capital Investment Advisors LLC acquired a new stake in Sony Group Co. (NYSE:SONY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,456 shares of the company’s stock, valued at approximately $422,000.

A number of other hedge funds have also recently modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of Sony Group by 27.2% in the first quarter. Bank of America Corp DE now owns 4,441,241 shares of the company’s stock valued at $402,598,000 after purchasing an additional 949,271 shares during the period. Morgan Stanley grew its holdings in shares of Sony Group by 0.4% in the third quarter. Morgan Stanley now owns 4,181,880 shares of the company’s stock valued at $344,629,000 after purchasing an additional 15,415 shares during the period. BlackRock Inc. grew its holdings in shares of Sony Group by 32.8% in the second quarter. BlackRock Inc. now owns 3,519,201 shares of the company’s stock valued at $316,869,000 after purchasing an additional 869,957 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Sony Group by 11.3% in the second quarter. Goldman Sachs Group Inc. now owns 1,283,236 shares of the company’s stock valued at $115,543,000 after purchasing an additional 130,410 shares during the period. Finally, Royal Bank of Canada boosted its stake in Sony Group by 1.0% during the third quarter. Royal Bank of Canada now owns 1,213,293 shares of the company’s stock worth $99,987,000 after buying an additional 12,467 shares during the period. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Macquarie lowered shares of Sony Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 15th. Oppenheimer reaffirmed an “outperform” rating and set a $108.00 target price on shares of Sony Group in a research note on Monday, February 26th. TheStreet raised shares of Sony Group from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Finally, StockNews.com lowered shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $108.00.

Sony Group Stock Down 0.1 %

Shares of SONY opened at $84.06 on Friday. The stock has a market capitalization of $103.75 billion, a PE ratio of 16.23 and a beta of 0.98. Sony Group Co. has a 1 year low of $79.62 and a 1 year high of $100.94. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.54 and a current ratio of 0.69. The company’s 50-day simple moving average is $88.55 and its 200-day simple moving average is $88.86.

Sony Group (NYSE:SONY) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.32. The business had revenue of $25.38 billion for the quarter, compared to analysts’ expectations of $24.31 billion. Sony Group had a net margin of 7.62% and a return on equity of 12.43%. Analysts forecast that Sony Group Co. will post 5.21 earnings per share 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.