Alliancebernstein L.P. Purchases New Position in Sony Group Co. (NYSE:SONY)

Alliancebernstein L.P. bought a new stake in shares of Sony Group Co. (NYSE:SONY) during the fourth quarter, Holdings Channel.com reports. The fund bought 9,473 shares of the company’s stock, valued at approximately $200,000.

Other large investors have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC grew its stake in Sony Group by 447.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 487,254 shares of the company’s stock valued at $10,310,000 after acquiring an additional 398,177 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Sony Group by 383.5% in the fourth quarter. Clearbridge Investments LLC now owns 5,929,924 shares of the company’s stock worth $125,477,000 after purchasing an additional 4,703,571 shares during the period. CIBC Private Wealth Group LLC boosted its stake in Sony Group by 394.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,530,235 shares of the company’s stock valued at $31,783,000 after buying an additional 1,220,941 shares during the period. Portland Global Advisors LLC grew its position in Sony Group by 366.1% during the fourth quarter. Portland Global Advisors LLC now owns 13,735 shares of the company’s stock worth $291,000 after buying an additional 10,788 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of Sony Group by 385.8% in the 4th quarter. Schroder Investment Management Group now owns 15,544 shares of the company’s stock valued at $330,000 after acquiring an additional 12,344 shares in the last quarter. 14.05% of the stock is owned by institutional investors.

Sony Group Stock Performance

Sony Group stock opened at $23.73 on Tuesday. The firm has a fifty day simple moving average of $24.08 and a two-hundred day simple moving average of $21.52. Sony Group Co. has a twelve month low of $15.02 and a twelve month high of $25.78. The company has a market capitalization of $143.51 billion, a PE ratio of 19.26, a P/E/G ratio of 9.95 and a beta of 0.94. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25.

Sony Group (NYSE:SONY) last issued its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.14. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. The company had revenue of $28.95 billion during the quarter, compared to analysts’ expectations of $24.32 billion. Research analysts expect that Sony Group Co. will post 1.23 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SONY. Oppenheimer restated an “outperform” rating and issued a $33.00 price objective (up from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. The Goldman Sachs Group initiated coverage on shares of Sony Group in a research report on Tuesday, March 25th. They set a “buy” rating on the stock. Sanford C. Bernstein initiated coverage on Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating on the stock. Wolfe Research reaffirmed a “peer perform” rating on shares of Sony Group in a research note on Monday, April 7th. Finally, StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

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.