International Assets Investment Management LLC Invests $1.42 Million in Sony Group Co. (NYSE:SONY)

International Assets Investment Management LLC bought a new position in shares of Sony Group Co. (NYSE:SONY) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,683 shares of the company’s stock, valued at approximately $1,418,000.

Several other hedge funds also recently made changes to their positions in the business. Pictet North America Advisors SA increased its stake in Sony Group by 19.4% in the third quarter. Pictet North America Advisors SA now owns 243,975 shares of the company’s stock valued at $23,561,000 after acquiring an additional 39,688 shares during the last quarter. Ellsworth Advisors LLC bought a new position in Sony Group in the second quarter valued at approximately $1,413,000. Creative Planning increased its stake in Sony Group by 2.7% in the second quarter. Creative Planning now owns 284,636 shares of the company’s stock valued at $24,180,000 after acquiring an additional 7,401 shares during the last quarter. Blue Trust Inc. increased its stake in Sony Group by 279.8% in the second quarter. Blue Trust Inc. now owns 3,445 shares of the company’s stock valued at $295,000 after acquiring an additional 2,538 shares during the last quarter. Finally, Ritholtz Wealth Management increased its stake in Sony Group by 27.1% in the second quarter. Ritholtz Wealth Management now owns 24,840 shares of the company’s stock valued at $2,110,000 after acquiring an additional 5,296 shares during the last quarter. 14.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SONY. Daiwa America raised shares of Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. TD Cowen cut their target price on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Finally, StockNews.com lowered shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Sony Group presently has an average rating of “Moderate Buy” and an average price target of $13.66.

Sony Group Stock Performance

Shares of Sony Group stock opened at $17.74 on Tuesday. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $20.18. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47. The firm has a market capitalization of $107.29 billion, a P/E ratio of 16.43 and a beta of 0.95. The company’s 50 day moving average price is $11.39 and its two-hundred day moving average price is $6.22.

Sony Group (NYSE:SONY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $19.32 billion during the quarter, compared to the consensus estimate of $17.42 billion. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. On average, equities analysts forecast that Sony Group Co. will post 1.12 earnings per share for the current fiscal year.

Sony Group Company 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.