HB Wealth Management LLC Acquires 9,960 Shares of Sony Group Co. (NYSE:SONY)

HB Wealth Management LLC increased its holdings in Sony Group Co. (NYSE:SONY) by 378.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,592 shares of the company’s stock after acquiring an additional 9,960 shares during the period. HB Wealth Management LLC’s holdings in Sony Group were worth $266,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Pictet North America Advisors SA raised its stake in shares of Sony Group by 19.4% in the third quarter. Pictet North America Advisors SA now owns 243,975 shares of the company’s stock worth $23,561,000 after purchasing an additional 39,688 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in Sony Group by 39.2% during the third quarter. Crossmark Global Holdings Inc. now owns 103,473 shares of the company’s stock worth $9,993,000 after buying an additional 29,165 shares in the last quarter. Confluence Investment Management LLC raised its position in Sony Group by 401.5% in the 4th quarter. Confluence Investment Management LLC now owns 43,135 shares of the company’s stock valued at $913,000 after buying an additional 34,533 shares during the last quarter. Diversify Wealth Management LLC lifted its stake in Sony Group by 511.4% during the 3rd quarter. Diversify Wealth Management LLC now owns 50,399 shares of the company’s stock valued at $4,867,000 after acquiring an additional 42,156 shares in the last quarter. Finally, Creative Planning boosted its holdings in Sony Group by 2.7% during the 2nd quarter. Creative Planning now owns 284,636 shares of the company’s stock worth $24,180,000 after acquiring an additional 7,401 shares during the last quarter. Institutional investors own 14.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. TD Cowen dropped their price target on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. StockNews.com downgraded Sony Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. Sanford C. Bernstein began coverage on Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating for the company. Finally, Oppenheimer cut their price objective on Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $24.00.

Sony Group Trading Down 2.6 %

Shares of SONY stock opened at $20.83 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. The firm has a market cap of $125.94 billion, a P/E ratio of 17.04, a PEG ratio of 13.02 and a beta of 0.95. The company has a 50 day moving average of $20.68 and a 200-day moving average of $13.17. Sony Group Co. has a 12-month low of $15.02 and a 12-month high of $22.71.

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.