Dearborn Partners LLC Purchases 155 Shares of Sony Group Co. (NYSE:SONY)

Dearborn Partners LLC increased its position in shares of Sony Group Co. (NYSE:SONY) by 4.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,291 shares of the company’s stock after buying an additional 155 shares during the quarter. Dearborn Partners LLC’s holdings in Sony Group were worth $280,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SONY. Wells Fargo & Company MN increased its position in shares of Sony Group by 4.7% in the fourth quarter. Wells Fargo & Company MN now owns 532,329 shares of the company’s stock valued at $50,406,000 after acquiring an additional 23,724 shares during the last quarter. US Bancorp DE raised its stake in shares of Sony Group by 75.3% during the 4th quarter. US Bancorp DE now owns 128,351 shares of the company’s stock worth $12,154,000 after purchasing an additional 55,129 shares in the last quarter. Everpar Advisors LLC acquired a new stake in shares of Sony Group in the 4th quarter valued at approximately $907,000. Ethic Inc. grew its stake in shares of Sony Group by 18.0% in the fourth quarter. Ethic Inc. now owns 119,939 shares of the company’s stock valued at $11,357,000 after buying an additional 18,334 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in Sony Group during the fourth quarter worth $1,153,000. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Group Stock Performance

Shares of NYSE SONY traded up $2.98 during midday trading on Tuesday, hitting $95.79. 333,812 shares of the company’s stock were exchanged, compared to its average volume of 839,947. Sony Group Co. has a 12 month low of $75.11 and a 12 month high of $100.88. The company’s 50 day moving average price is $87.80 and its 200 day moving average price is $85.91. The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $118.23 billion, a PE ratio of 17.06 and a beta of 0.94.

Sony Group’s stock is set to split before the market opens 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 announced its earnings results on Wednesday, August 7th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $19.32 billion for the quarter, compared to analyst estimates of $17.42 billion. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. As a group, analysts predict that Sony Group Co. will post 5.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $108.00.

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.