Abel Hall LLC Decreases Stake in Sony Corporation $SONY

Abel Hall LLC lowered its holdings in Sony Corporation (NYSE:SONY) by 10.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,245 shares of the company’s stock after selling 1,327 shares during the quarter. Abel Hall LLC’s holdings in Sony were worth $293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. City Holding Co. purchased a new stake in Sony during the first quarter valued at $30,000. Bartlett & CO. Wealth Management LLC purchased a new stake in Sony during the first quarter valued at $31,000. Zions Bancorporation National Association UT purchased a new stake in Sony during the first quarter valued at $47,000. Financial Management Professionals Inc. increased its position in Sony by 81.5% during the second quarter. Financial Management Professionals Inc. now owns 1,980 shares of the company’s stock valued at $52,000 after acquiring an additional 889 shares during the last quarter. Finally, Alpine Bank Wealth Management purchased a new stake in Sony during the first quarter valued at $60,000. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Sony in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.00.

Sony Stock Performance

NYSE:SONY opened at $29.77 on Thursday. The stock has a 50-day simple moving average of $28.10 and a two-hundred day simple moving average of $26.02. Sony Corporation has a 52-week low of $17.42 and a 52-week high of $30.25. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.09. The firm has a market capitalization of $180.04 billion, a PE ratio of 23.63 and a beta of 0.95.

Sony (NYSE:SONY) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.06. Sony had a return on equity of 13.88% and a net margin of 9.14%.The business had revenue of $17.79 billion during the quarter, compared to analyst estimates of $18.88 billion. During the same quarter in the previous year, the company posted $189.90 earnings per share. Sony has set its FY 2025 guidance at EPS. Analysts forecast that Sony Corporation will post 1.23 EPS for the current year.

About Sony

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.