Absher Wealth Management LLC Lowers Position in Sony Group Co. (NYSE:SONY)

Absher Wealth Management LLC lowered its stake in Sony Group Co. (NYSE:SONY) by 3.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,223 shares of the company’s stock after selling 274 shares during the quarter. Absher Wealth Management LLC’s holdings in Sony Group were worth $699,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SONY. Russell Investments Group Ltd. boosted its holdings in Sony Group by 107.9% in the 4th quarter. Russell Investments Group Ltd. now owns 1,297 shares of the company’s stock worth $123,000 after buying an additional 673 shares during the period. Benjamin F. Edwards & Company Inc. bought a new stake in Sony Group during the 4th quarter valued at approximately $306,000. 9258 Wealth Management LLC purchased a new position in Sony Group in the 4th quarter worth approximately $221,000. Sapient Capital LLC purchased a new stake in Sony Group during the 4th quarter valued at approximately $318,000. Finally, Axxcess Wealth Management LLC bought a new stake in shares of Sony Group during the fourth quarter valued at approximately $231,000. Institutional investors own 14.05% of the company’s stock.

Sony Group Stock Down 2.2 %

Shares of SONY opened at $95.44 on Wednesday. The business’s 50 day simple moving average is $89.73 and its 200-day simple moving average is $86.05. Sony Group Co. has a 1 year low of $75.11 and a 1 year high of $100.88. The stock has a market capitalization of $117.79 billion, a price-to-earnings ratio of 17.54 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47.

Sony Group shares are set to split on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly minted shares will be payable to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY) last released its earnings results on Wednesday, August 7th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.11. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The firm had revenue of $19.32 billion during the quarter, compared to analyst estimates of $17.42 billion. As a group, equities analysts expect that Sony Group Co. will post 5.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Sony Group presently has an average rating of “Moderate Buy” and an average price target of $108.00.

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.