Handelsbanken Fonder AB Acquires 470,800 Shares of Sony Group Co. (NYSE:SONY)

Handelsbanken Fonder AB grew its holdings in shares of Sony Group Co. (NYSE:SONY) by 315.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 620,000 shares of the company’s stock after purchasing an additional 470,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Sony Group were worth $13,119,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Silicon Valley Capital Partners boosted its position in Sony Group by 401.3% during the fourth quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company’s stock worth $25,000 after purchasing an additional 927 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Sony Group during the fourth quarter worth about $26,000. General Partner Inc. boosted its position in Sony Group by 400.0% during the fourth quarter. General Partner Inc. now owns 1,245 shares of the company’s stock worth $26,000 after purchasing an additional 996 shares during the period. Brown Brothers Harriman & Co. boosted its position in Sony Group by 106.2% during the third quarter. Brown Brothers Harriman & Co. now owns 1,390 shares of the company’s stock worth $134,000 after purchasing an additional 716 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Sony Group by 400.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,505 shares of the company’s stock valued at $32,000 after acquiring an additional 1,204 shares during the period. Institutional investors own 14.05% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on SONY. StockNews.com lowered shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. 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. Finally, Sanford C. Bernstein began coverage on shares of Sony Group in a research report on Thursday, January 16th. They issued an “outperform” rating for the company. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $28.00.

Sony Group Trading Down 0.5 %

Shares of Sony Group stock opened at $24.81 on Friday. Sony Group Co. has a 1 year low of $15.02 and a 1 year high of $25.29. The firm has a market cap of $150.01 billion, a PE ratio of 20.13, a PEG ratio of 9.98 and a beta of 0.96. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The company has a 50 day simple moving average of $21.74 and a two-hundred day simple moving average of $15.86.

Sony Group (NYSE:SONY) last announced its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating 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 business had revenue of $28.95 billion during the quarter, compared to analyst estimates of $24.32 billion. Analysts expect that Sony Group Co. will post 1.22 earnings per share for the current fiscal year.

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.