RMR Wealth Builders Reduces Holdings in Sony Group Co. (NYSE:SONY)

RMR Wealth Builders cut its position in shares of Sony Group Co. (NYSE:SONY) by 15.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,136 shares of the company’s stock after selling 379 shares during the quarter. RMR Wealth Builders’ holdings in Sony Group were worth $202,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. CVA Family Office LLC acquired a new stake in shares of Sony Group in the fourth quarter worth approximately $27,000. Fortitude Family Office LLC acquired a new stake in shares of Sony Group in the fourth quarter worth approximately $31,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Sony Group in the fourth quarter worth approximately $34,000. Pinnacle Bancorp Inc. acquired a new stake in shares of Sony Group in the fourth quarter worth approximately $39,000. Finally, NBC Securities Inc. acquired a new stake in shares of Sony Group in the third quarter worth approximately $51,000. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on SONY shares. TheStreet raised shares of Sony Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Macquarie cut shares of Sony Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 15th. Oppenheimer reissued an “outperform” rating and set a $108.00 target price on shares of Sony Group in a research report on Monday, February 26th. Finally, StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Monday, April 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $108.00.

Sony Group Stock Down 4.0 %

Shares of NYSE:SONY traded down $3.29 during midday trading on Wednesday, reaching $78.36. The company had a trading volume of 1,715,170 shares, compared to its average volume of 772,353. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.69 and a quick ratio of 0.54. The stock’s fifty day moving average price is $85.14 and its 200-day moving average price is $88.83. The stock has a market capitalization of $96.71 billion, a P/E ratio of 15.20 and a beta of 0.95. Sony Group Co. has a one year low of $77.66 and a one year high of $100.94.

Sony Group (NYSE:SONY) last released its earnings results on Wednesday, February 14th. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.32. The firm had revenue of $25.38 billion during the quarter, compared to analyst estimates of $24.31 billion. Sony Group had a net margin of 7.62% and a return on equity of 12.43%. Equities research analysts expect that Sony Group Co. will post 5.22 earnings per share for the current fiscal year.

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.