Handelsbanken Fonder AB Acquires 470,000 Shares of Sony Corporation $SONY

Handelsbanken Fonder AB grew its holdings in Sony Corporation (NYSE:SONY) by 97.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 950,000 shares of the company’s stock after purchasing an additional 470,000 shares during the period. Handelsbanken Fonder AB’s holdings in Sony were worth $24,728,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rosenberg Matthew Hamilton increased its holdings in Sony by 4.7% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 9,765 shares of the company’s stock worth $254,000 after buying an additional 442 shares in the last quarter. Sowell Financial Services LLC boosted its holdings in shares of Sony by 3.7% during the 2nd quarter. Sowell Financial Services LLC now owns 13,318 shares of the company’s stock valued at $347,000 after acquiring an additional 474 shares during the last quarter. First Foundation Advisors grew its stake in shares of Sony by 3.4% in the first quarter. First Foundation Advisors now owns 14,543 shares of the company’s stock worth $369,000 after acquiring an additional 478 shares during the period. Rossby Financial LCC raised its holdings in shares of Sony by 2.6% during the second quarter. Rossby Financial LCC now owns 18,897 shares of the company’s stock valued at $492,000 after purchasing an additional 485 shares during the last quarter. Finally, Optas LLC raised its holdings in shares of Sony by 2.7% during the second quarter. Optas LLC now owns 19,052 shares of the company’s stock valued at $496,000 after purchasing an additional 494 shares during the last quarter. 14.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on SONY shares. Wolfe Research raised shares of Sony from a “peer perform” rating to an “outperform” rating in a research report on Wednesday, November 5th. Cfra Research raised Sony to a “moderate buy” rating in a report on Friday, October 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Sony in a report on Wednesday, October 8th. Nomura Securities raised Sony from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Nomura raised shares of Sony from a “neutral” rating to a “buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $33.00.

Sony Stock Performance

Shares of NYSE:SONY opened at $28.50 on Friday. The company has a market capitalization of $172.36 billion, a price-to-earnings ratio of 22.62 and a beta of 0.99. Sony Corporation has a 52 week low of $18.97 and a 52 week high of $30.34. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $28.92 and a 200 day moving average of $27.05.

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.