Sony Group Co. (NYSE:SONY) Shares Purchased by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. increased its holdings in shares of Sony Group Co. (NYSE:SONY) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 165,791 shares of the company’s stock after purchasing an additional 1,694 shares during the period. Sony Group accounts for 2.0% of Cabot Wealth Management Inc.’s investment portfolio, making the stock its 12th largest holding. Cabot Wealth Management Inc.’s holdings in Sony Group were worth $16,010,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Mondrian Investment Partners LTD boosted its stake in Sony Group by 43.4% during the 1st quarter. Mondrian Investment Partners LTD now owns 2,558,527 shares of the company’s stock worth $220,033,000 after purchasing an additional 774,502 shares during the period. Clearbridge Investments LLC raised its position in Sony Group by 1.2% during the 1st quarter. Clearbridge Investments LLC now owns 1,616,928 shares of the company’s stock worth $138,635,000 after buying an additional 18,487 shares during the last quarter. Marshall Wace LLP raised its position in Sony Group by 8,495.0% during the 2nd quarter. Marshall Wace LLP now owns 848,414 shares of the company’s stock worth $72,073,000 after buying an additional 838,543 shares during the last quarter. Sei Investments Co. raised its position in Sony Group by 3.5% during the 2nd quarter. Sei Investments Co. now owns 611,514 shares of the company’s stock worth $51,946,000 after buying an additional 20,802 shares during the last quarter. Finally, Minneapolis Portfolio Management Group LLC raised its position in Sony Group by 0.3% during the 2nd quarter. Minneapolis Portfolio Management Group LLC now owns 328,984 shares of the company’s stock worth $27,947,000 after buying an additional 921 shares during the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Group Trading Down 2.3 %

Shares of Sony Group stock traded down $0.43 during mid-day trading on Tuesday, hitting $18.66. 2,116,936 shares of the stock were exchanged, compared to its average volume of 3,987,329. Sony Group Co. has a twelve month low of $15.02 and a twelve month high of $20.18. The stock has a market capitalization of $23.03 billion, a price-to-earnings ratio of 3.51 and a beta of 0.94. The company has a 50-day simple moving average of $29.26 and a 200 day simple moving average of $21.26. The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 0.26.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The company had revenue of $19.32 billion for the quarter, compared to analysts’ expectations of $17.42 billion. Research analysts forecast that Sony Group Co. will post 0.61 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Daiwa America upgraded shares of Sony Group to a “strong-buy” rating in a research report on Wednesday, September 18th. StockNews.com upgraded shares of Sony Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, TD Cowen cut their price objective on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $22.30.

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.