Charles Schwab Investment Management Inc. Raises Position in Sony Group Co. (NYSE:SONY)

Charles Schwab Investment Management Inc. increased its position in shares of Sony Group Co. (NYSE:SONY) by 25.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,211 shares of the company’s stock after purchasing an additional 16,073 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Sony Group were worth $7,649,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Pictet North America Advisors SA grew its stake in Sony Group by 19.4% in the 3rd quarter. Pictet North America Advisors SA now owns 243,975 shares of the company’s stock worth $23,561,000 after acquiring an additional 39,688 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of Sony Group by 39.2% during the third quarter. Crossmark Global Holdings Inc. now owns 103,473 shares of the company’s stock worth $9,993,000 after purchasing an additional 29,165 shares during the last quarter. Ellsworth Advisors LLC purchased a new stake in shares of Sony Group in the second quarter valued at $1,413,000. Diversify Wealth Management LLC increased its stake in Sony Group by 511.4% in the third quarter. Diversify Wealth Management LLC now owns 50,399 shares of the company’s stock valued at $4,867,000 after purchasing an additional 42,156 shares during the last quarter. Finally, Creative Planning lifted its position in Sony Group by 2.7% during the second quarter. Creative Planning now owns 284,636 shares of the company’s stock worth $24,180,000 after buying an additional 7,401 shares during the period. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Group Trading Up 1.8 %

Shares of NYSE:SONY opened at $22.17 on Thursday. 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 $22.25. The stock’s 50-day moving average is $19.02 and its 200-day moving average is $9.29. The company has a market cap of $134.08 billion, a P/E ratio of 18.17, a P/E/G ratio of 13.26 and a beta of 0.98.

Analyst Upgrades and Downgrades

SONY has been the subject of several analyst reports. StockNews.com downgraded shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. TD Cowen decreased their price objective on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Daiwa America raised Sony Group to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, Oppenheimer reduced their price target on Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Sony Group has an average rating of “Buy” and a consensus price target of $24.00.

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.