Wealth Alliance Has $1.36 Million Stock Holdings in Sony Group Co. (NYSE:SONY)

Wealth Alliance lifted its stake in Sony Group Co. (NYSE:SONY) by 417.9% during the fourth quarter, HoldingsChannel reports. The fund owned 64,076 shares of the company’s stock after purchasing an additional 51,703 shares during the quarter. Wealth Alliance’s holdings in Sony Group were worth $1,356,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Sunpointe LLC acquired a new position in shares of Sony Group in the fourth quarter worth $201,000. Ieq Capital LLC increased its stake in shares of Sony Group by 411.6% in the fourth quarter. Ieq Capital LLC now owns 32,837 shares of the company’s stock worth $695,000 after acquiring an additional 26,419 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Sony Group by 299.1% in the fourth quarter. Private Advisor Group LLC now owns 24,566 shares of the company’s stock worth $520,000 after acquiring an additional 18,410 shares during the last quarter. Bryn Mawr Capital Management LLC boosted its holdings in Sony Group by 2,503.5% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 59,516 shares of the company’s stock worth $1,259,000 after purchasing an additional 57,230 shares in the last quarter. Finally, Alberta Investment Management Corp boosted its holdings in Sony Group by 255.7% in the fourth quarter. Alberta Investment Management Corp now owns 1,000,000 shares of the company’s stock worth $21,160,000 after purchasing an additional 718,840 shares in the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Group Stock Up 0.9 %

SONY stock opened at $24.74 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. Sony Group Co. has a 52-week low of $15.02 and a 52-week high of $24.88. The company has a 50-day moving average of $21.63 and a two-hundred day moving average of $15.64. The stock has a market capitalization of $149.59 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 9.90 and a beta of 0.96.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. The company had revenue of $28.95 billion during the quarter, compared to analysts’ expectations of $24.32 billion. As a group, equities research analysts anticipate that Sony Group Co. will post 1.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SONY shares. Oppenheimer decreased their price objective on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Sanford C. Bernstein started coverage on shares of Sony Group in a report on Thursday, January 16th. They issued an “outperform” rating for the company. Finally, StockNews.com cut shares of Sony Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 19th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $24.00.

Sony Group Company 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.