Ellsworth Advisors LLC Makes New Investment in Sony Group Co. (NYSE:SONY)

Ellsworth Advisors LLC bought a new position in shares of Sony Group Co. (NYSE:SONY) during the second quarter, HoldingsChannel reports. The institutional investor bought 16,634 shares of the company’s stock, valued at approximately $1,413,000.

Other large investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in shares of Sony Group by 4.7% in the 4th quarter. Wells Fargo & Company MN now owns 532,329 shares of the company’s stock valued at $50,406,000 after purchasing an additional 23,724 shares in the last quarter. US Bancorp DE raised its holdings in Sony Group by 75.3% in the fourth quarter. US Bancorp DE now owns 128,351 shares of the company’s stock valued at $12,154,000 after acquiring an additional 55,129 shares in the last quarter. Everpar Advisors LLC bought a new position in Sony Group during the 4th quarter valued at $907,000. Ethic Inc. grew its holdings in Sony Group by 18.0% during the 4th quarter. Ethic Inc. now owns 119,939 shares of the company’s stock worth $11,357,000 after acquiring an additional 18,334 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of Sony Group in the 4th quarter worth about $1,153,000. 14.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $108.00.

Sony Group Stock Performance

Shares of SONY stock traded up $1.78 on Friday, hitting $90.24. 588,400 shares of the stock traded hands, compared to its average volume of 851,542. The company has a market capitalization of $111.38 billion, a PE ratio of 16.59 and a beta of 0.94. Sony Group Co. has a 1-year low of $75.11 and a 1-year high of $100.88. The company’s fifty day moving average is $86.81 and its 200 day moving average is $86.31. 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 going to split on the morning of Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly issued shares will be distributed to shareholders after the market closes on Monday, September 30th.

Sony Group (NYSE:SONY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $1.22 earnings per share 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 for the quarter, compared to analyst estimates of $17.42 billion. On average, equities research analysts predict that Sony Group Co. will post 5.72 earnings per share for the current fiscal year.

About Sony Group

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.