Sony Group Co. (NYSE:SONY) Shares Bought by Alberta Investment Management Corp

Alberta Investment Management Corp grew its holdings in shares of Sony Group Co. (NYSE:SONY) by 255.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,000,000 shares of the company’s stock after buying an additional 718,840 shares during the period. Alberta Investment Management Corp’s holdings in Sony Group were worth $21,160,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Fisher Asset Management LLC increased its holdings in shares of Sony Group by 12.7% in the third quarter. Fisher Asset Management LLC now owns 8,636,355 shares of the company’s stock valued at $834,013,000 after buying an additional 972,075 shares in the last quarter. Cardinal Capital Management Inc. grew its position in Sony Group by 403.7% during the 4th quarter. Cardinal Capital Management Inc. now owns 1,606,160 shares of the company’s stock worth $33,986,000 after purchasing an additional 1,287,259 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in Sony Group during the 3rd quarter worth approximately $109,462,000. Cambiar Investors LLC grew its position in Sony Group by 548.9% during the 4th quarter. Cambiar Investors LLC now owns 1,059,241 shares of the company’s stock worth $22,414,000 after purchasing an additional 896,013 shares in the last quarter. Finally, Pictet North America Advisors SA grew its position in Sony Group by 333.4% during the 4th quarter. Pictet North America Advisors SA now owns 1,057,404 shares of the company’s stock worth $22,375,000 after purchasing an additional 813,429 shares in the last quarter. Institutional investors own 14.05% of the company’s stock.

Wall Street Analyst Weigh In

SONY has been the subject of a number of research analyst reports. Oppenheimer cut their target price on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. StockNews.com lowered shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Sanford C. Bernstein began coverage on shares of Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating for the company. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Sony Group currently has a consensus rating of “Buy” and a consensus target price of $24.00.

Sony Group Stock Performance

NYSE SONY opened at $24.50 on Wednesday. The stock has a market cap of $148.14 billion, a P/E ratio of 19.88, a PEG ratio of 9.75 and a beta of 0.96. The company’s 50-day simple moving average is $21.58 and its 200 day simple moving average is $15.58. Sony Group Co. has a twelve month low of $15.02 and a twelve month high of $24.88. 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 quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.14. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. The firm had revenue of $28.95 billion for the quarter, compared to analysts’ expectations of $24.32 billion. As a group, research analysts forecast that Sony Group Co. will post 1.22 earnings per share for the current fiscal year.

Sony Group 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.