Beaumont Financial Advisors LLC Cuts Holdings in Sony Group Co. (NYSE:SONY)

Beaumont Financial Advisors LLC trimmed its holdings in shares of Sony Group Co. (NYSE:SONY) by 0.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 132,242 shares of the company’s stock after selling 368 shares during the quarter. Sony Group accounts for approximately 1.1% of Beaumont Financial Advisors LLC’s investment portfolio, making the stock its 28th biggest position. Beaumont Financial Advisors LLC’s holdings in Sony Group were worth $12,522,000 as of its most recent SEC filing.

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

Sony Group Stock Performance

Sony Group stock traded down $0.48 during trading on Friday, reaching $81.40. The company had a trading volume of 324,189 shares, compared to its average volume of 778,128. Sony Group Co. has a 52 week low of $79.62 and a 52 week high of $100.94. The firm’s 50-day simple moving average is $87.07 and its 200 day simple moving average is $88.87. The firm has a market capitalization of $100.47 billion, a price-to-earnings ratio of 15.71 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 announced its earnings results on Wednesday, February 14th. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.32. The company had revenue of $25.38 billion for the quarter, compared to analysts’ expectations of $24.31 billion. Sony Group had a return on equity of 12.43% and a net margin of 7.62%. Sell-side analysts forecast that Sony Group Co. will post 5.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Oppenheimer reissued an “outperform” rating and set a $108.00 price target on shares of Sony Group in a report on Monday, February 26th. Macquarie cut Sony Group from an “outperform” rating to a “neutral” rating in a report on Thursday, February 15th. TheStreet raised Sony Group from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Finally, StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Sony Group presently has an average rating of “Moderate Buy” and an average price target of $108.00.

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.