Procyon Advisors LLC Buys 870 Shares of Sony Group Co. (NYSE:SONY)

Procyon Advisors LLC increased its position in shares of Sony Group Co. (NYSE:SONY) by 12.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,809 shares of the company’s stock after purchasing an additional 870 shares during the quarter. Procyon Advisors LLC’s holdings in Sony Group were worth $739,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Cetera Advisor Networks LLC raised its position in Sony Group by 31.8% in the 1st quarter. Cetera Advisor Networks LLC now owns 4,306 shares of the company’s stock worth $442,000 after purchasing an additional 1,039 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Sony Group by 0.8% in the 1st quarter. BlackRock Inc. now owns 1,510,796 shares of the company’s stock valued at $155,174,000 after purchasing an additional 11,272 shares during the period. Cibc World Market Inc. boosted its position in shares of Sony Group by 4.5% in the 1st quarter. Cibc World Market Inc. now owns 28,862 shares of the company’s stock worth $2,964,000 after purchasing an additional 1,237 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Sony Group by 12.8% during the first quarter. Cetera Investment Advisers now owns 6,265 shares of the company’s stock worth $643,000 after purchasing an additional 711 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its stake in Sony Group by 46.2% in the first quarter. Sequoia Financial Advisors LLC now owns 5,494 shares of the company’s stock valued at $564,000 after buying an additional 1,736 shares during the period. 14.05% of the stock is owned by institutional investors.

Sony Group Stock Down 0.5 %

Shares of NYSE SONY traded down $0.43 during midday trading on Thursday, reaching $86.11. The company’s stock had a trading volume of 88,190 shares, compared to its average volume of 819,562. Sony Group Co. has a fifty-two week low of $79.62 and a fifty-two week high of $100.94. The stock has a 50 day simple moving average of $91.38 and a 200-day simple moving average of $88.90. The stock has a market capitalization of $106.28 billion, a price-to-earnings ratio of 16.71 and a beta of 0.98. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.25.

Sony Group (NYSE:SONY) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.32. Sony Group had a net margin of 7.62% and a return on equity of 12.43%. The company had revenue of $25.38 billion during the quarter, compared to the consensus estimate of $24.31 billion. Equities research analysts predict that Sony Group Co. will post 5.19 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on SONY. TheStreet upgraded Sony Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Oppenheimer restated an “outperform” rating and set a $108.00 price objective on shares of Sony Group in a report on Monday, February 26th. Wolfe Research initiated coverage on shares of Sony Group in a report on Tuesday, December 12th. They issued an “outperform” rating on the stock. Macquarie downgraded Sony Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 15th. Finally, StockNews.com raised Sony Group from a “hold” rating to a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock 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.