Hanson & Doremus Investment Management Sells 162 Shares of Sony Group Co. (NYSE:SONY)

Hanson & Doremus Investment Management lowered its holdings in shares of Sony Group Co. (NYSE:SONY) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,837 shares of the company’s stock after selling 162 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Sony Group were worth $1,260,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SONY. Harding Loevner LP lifted its holdings in shares of Sony Group by 2,206.6% in the 4th quarter. Harding Loevner LP now owns 2,280,016 shares of the company’s stock valued at $219,419,000 after acquiring an additional 2,181,169 shares during the last quarter. Mondrian Investment Partners LTD raised its position in Sony Group by 43.4% during the first quarter. Mondrian Investment Partners LTD now owns 2,558,527 shares of the company’s stock valued at $220,033,000 after purchasing an additional 774,502 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Sony Group by 5.7% in the 4th quarter. Fisher Asset Management LLC now owns 6,358,712 shares of the company’s stock valued at $602,106,000 after purchasing an additional 341,566 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Sony Group by 26.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,344,784 shares of the company’s stock worth $127,338,000 after purchasing an additional 277,537 shares during the period. Finally, Manning & Napier Advisors LLC bought a new position in shares of Sony Group during the 2nd quarter valued at approximately $18,567,000. 14.05% of the stock is owned by hedge funds and other institutional investors.

Sony Group Stock Performance

Sony Group stock opened at $93.44 on Friday. Sony Group Co. has a 1-year low of $75.11 and a 1-year high of $100.88. The company’s 50-day moving average is $90.96 and its 200 day moving average is $86.37. The firm has a market capitalization of $115.33 billion, a P/E ratio of 17.18 and a beta of 0.95. 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 shares are going to split before the market opens on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly created shares will be distributed to shareholders after the closing bell on Monday, September 30th.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Sony Group currently has a consensus rating of “Moderate Buy” and a consensus 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.