Grassi Investment Management Trims Stake in Sony Corporation $SONY

Grassi Investment Management decreased its stake in Sony Corporation (NYSE:SONY) by 6.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,875 shares of the company’s stock after selling 1,000 shares during the quarter. Grassi Investment Management’s holdings in Sony were worth $361,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. City Holding Co. purchased a new stake in Sony in the first quarter worth about $30,000. Bartlett & CO. Wealth Management LLC purchased a new stake in Sony in the 1st quarter worth approximately $31,000. Zions Bancorporation National Association UT purchased a new stake in Sony in the 1st quarter worth approximately $47,000. Financial Management Professionals Inc. increased its stake in shares of Sony by 81.5% in the second quarter. Financial Management Professionals Inc. now owns 1,980 shares of the company’s stock worth $52,000 after purchasing an additional 889 shares in the last quarter. Finally, Ameliora Wealth Management Ltd. purchased a new stake in shares of Sony in the first quarter worth $56,000. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Sony in a research note on Saturday, September 27th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Sony has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Sony Stock Performance

SONY opened at $28.96 on Friday. The stock has a market capitalization of $175.11 billion, a price-to-earnings ratio of 22.98 and a beta of 0.95. The company has a fifty day moving average of $27.76 and a 200 day moving average of $25.92. Sony Corporation has a fifty-two week low of $17.42 and a fifty-two 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.

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

Sony 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.