NewEdge Wealth LLC Boosts Position in Sony Corporation $SONY

NewEdge Wealth LLC increased its holdings in shares of Sony Corporation (NYSE:SONY) by 18.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 173,113 shares of the company’s stock after purchasing an additional 27,122 shares during the quarter. NewEdge Wealth LLC’s holdings in Sony were worth $4,432,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SONY. Brighton Jones LLC increased its position in Sony by 422.0% during the fourth quarter. Brighton Jones LLC now owns 19,908 shares of the company’s stock worth $421,000 after buying an additional 16,094 shares during the period. AQR Capital Management LLC increased its position in Sony by 26.7% during the first quarter. AQR Capital Management LLC now owns 178,889 shares of the company’s stock worth $4,542,000 after buying an additional 37,677 shares during the period. Sivia Capital Partners LLC increased its position in Sony by 23.4% during the second quarter. Sivia Capital Partners LLC now owns 22,013 shares of the company’s stock worth $573,000 after buying an additional 4,172 shares during the period. Russell Investments Group Ltd. increased its position in Sony by 24.6% during the second quarter. Russell Investments Group Ltd. now owns 16,501 shares of the company’s stock worth $430,000 after buying an additional 3,255 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new position in Sony during the second quarter worth approximately $26,058,000. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Sony Trading Up 5.6%

NYSE:SONY opened at $21.27 on Tuesday. The firm has a market cap of $126.53 billion, a P/E ratio of -106.34, a PEG ratio of 6.97 and a beta of 0.92. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The stock’s 50 day simple moving average is $20.95 and its 200-day simple moving average is $24.06. Sony Corporation has a 12-month low of $19.63 and a 12-month high of $30.34.

Sony (NYSE:SONY) last released its earnings results on Thursday, May 7th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.13). The company had revenue of $19.15 billion during the quarter, compared to analyst estimates of $18.43 billion. Sony had a negative net margin of 1.44% and a positive return on equity of 13.59%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $32.86 EPS. Equities analysts anticipate that Sony Corporation will post 1.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on SONY. Zacks Research lowered Sony from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $22.00 price target (down from $30.00) on shares of Sony in a research report on Tuesday, March 17th. Weiss Ratings lowered Sony from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, February 20th. Finally, Benchmark reaffirmed a “buy” rating on shares of Sony in a research report on Monday. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.00.

About Sony

Sony Group Corporation (NYSE: SONY) is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.

Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.