Columbia Asset Management Has $1.81 Million Stock Holdings in Sony Group Co. (NYSE:SONY)

Columbia Asset Management reduced its stake in shares of Sony Group Co. (NYSE:SONY) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,275 shares of the company’s stock after selling 800 shares during the period. Columbia Asset Management’s holdings in Sony Group were worth $1,807,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SONY. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Sony Group during the 2nd quarter valued at about $26,000. Sunbelt Securities Inc. acquired a new position in shares of Sony Group during the 1st quarter worth $29,000. Rise Advisors LLC raised its holdings in shares of Sony Group by 259.2% during the 1st quarter. Rise Advisors LLC now owns 352 shares of the company’s stock valued at $30,000 after purchasing an additional 254 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Sony Group in the 2nd quarter valued at $41,000. Finally, Family Firm Inc. acquired a new position in Sony Group during the second quarter worth $44,000. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Sony Group Stock Down 0.1 %

SONY stock opened at $94.36 on Friday. The stock has a market capitalization of $116.46 billion, a price-to-earnings ratio of 17.35 and a beta of 0.94. The company has a 50-day moving average of $90.16 and a two-hundred day moving average of $86.16. Sony Group Co. has a 52-week low of $75.11 and a 52-week high of $100.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47.

Sony Group’s stock is scheduled to split on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly minted shares will be payable to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The firm had revenue of $19.32 billion during the quarter, compared to the consensus estimate of $17.42 billion. As a group, equities research analysts anticipate that Sony Group Co. will post 5.63 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $108.00.

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.