Sony Group Co. (NYSE:SONY) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC trimmed its holdings in Sony Group Co. (NYSE:SONY) by 7.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,849 shares of the company’s stock after selling 1,495 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Sony Group were worth $1,601,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Wells Fargo & Company MN boosted its holdings in shares of Sony Group by 4.7% during the fourth quarter. Wells Fargo & Company MN now owns 532,329 shares of the company’s stock worth $50,406,000 after purchasing an additional 23,724 shares during the period. US Bancorp DE increased its stake in shares of Sony Group by 75.3% in the fourth quarter. US Bancorp DE now owns 128,351 shares of the company’s stock worth $12,154,000 after acquiring an additional 55,129 shares during the last quarter. Everpar Advisors LLC acquired a new position in shares of Sony Group in the fourth quarter worth $907,000. Ethic Inc. increased its stake in shares of Sony Group by 18.0% in the fourth quarter. Ethic Inc. now owns 119,939 shares of the company’s stock worth $11,357,000 after acquiring an additional 18,334 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of Sony Group in the fourth quarter worth $1,153,000. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Group Stock Up 4.6 %

SONY stock traded up $3.89 during midday trading on Tuesday, hitting $88.61. The company’s stock had a trading volume of 399,072 shares, compared to its average volume of 851,856. The stock has a market capitalization of $109.36 billion, a P/E ratio of 15.57, a PEG ratio of 8.57 and a beta of 0.94. The company’s fifty day moving average price is $86.58 and its 200 day moving average price is $86.37. Sony Group Co. has a twelve month low of $75.11 and a twelve month high of $100.88. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.66 and a quick ratio of 0.52.

Sony Group’s stock is going to split on the morning of Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly minted shares will be distributed to shareholders after the market closes on Monday, September 30th.

Sony Group (NYSE:SONY) last posted its quarterly earnings results on Tuesday, May 14th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.21. The business had revenue of $23.45 billion for the quarter, compared to analyst estimates of $18.97 billion. Sony Group had a net margin of 7.95% and a return on equity of 13.05%. During the same quarter last year, the business posted $0.78 EPS. As a group, equities research analysts predict that Sony Group Co. will post 5.64 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Sony Group has an average rating of “Moderate Buy” and an average price target 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.