Advisors Capital Management LLC Buys New Position in Sony Corporation $SONY

Advisors Capital Management LLC bought a new position in shares of Sony Corporation (NYSE:SONY) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,943 shares of the company’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP purchased a new position in Sony during the 1st quarter worth $78,905,000. Allspring Global Investments Holdings LLC grew its holdings in Sony by 4,056.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,973,638 shares of the company’s stock valued at $50,269,000 after purchasing an additional 1,926,156 shares during the last quarter. 1832 Asset Management L.P. increased its stake in shares of Sony by 702.4% during the 1st quarter. 1832 Asset Management L.P. now owns 1,318,299 shares of the company’s stock worth $33,472,000 after purchasing an additional 1,154,010 shares in the last quarter. Ameriprise Financial Inc. increased its position in Sony by 124.5% during the 1st quarter. Ameriprise Financial Inc. now owns 2,060,705 shares of the company’s stock worth $52,814,000 after purchasing an additional 1,142,849 shares in the last quarter. Finally, Assetmark Inc. boosted its position in Sony by 175.6% during the second quarter. Assetmark Inc. now owns 1,469,596 shares of the company’s stock worth $38,254,000 after acquiring an additional 936,441 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Sony Stock Performance

Shares of NYSE:SONY opened at $30.15 on Monday. Sony Corporation has a fifty-two week low of $18.41 and a fifty-two week high of $30.34. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.09 and a quick ratio of 1.03. The business’s fifty day moving average price is $28.96 and its two-hundred day moving average price is $26.94. The stock has a market capitalization of $182.32 billion, a price-to-earnings ratio of 23.93 and a beta of 0.99.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Sony in a research note on Wednesday, October 8th. Zacks Research upgraded Sony from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Cfra Research upgraded shares of Sony to a “moderate buy” rating in a research report on Friday, October 10th. Finally, Wolfe Research raised shares of Sony from a “peer perform” rating to an “outperform” rating in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $33.00.

About Sony

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.