Somerset Trust Co Acquires Shares of 2,240 Sony Group Co. (NYSE:SONY)

Somerset Trust Co bought a new position in shares of Sony Group Co. (NYSE:SONY) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,240 shares of the company’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. American National Bank raised its position in shares of Sony Group by 11.3% during the second quarter. American National Bank now owns 1,172 shares of the company’s stock worth $100,000 after acquiring an additional 119 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Sony Group by 1.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,656 shares of the company’s stock worth $735,000 after buying an additional 124 shares during the period. Hexagon Capital Partners LLC lifted its holdings in Sony Group by 20.6% in the first quarter. Hexagon Capital Partners LLC now owns 749 shares of the company’s stock valued at $64,000 after buying an additional 128 shares during the period. Belpointe Asset Management LLC lifted its stake in shares of Sony Group by 1.4% in the 2nd quarter. Belpointe Asset Management LLC now owns 9,265 shares of the company’s stock valued at $787,000 after purchasing an additional 128 shares during the period. Finally, Dynamic Advisor Solutions LLC boosted its holdings in Sony Group by 1.7% during the second quarter. Dynamic Advisor Solutions LLC now owns 8,394 shares of the company’s stock worth $713,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Group Price Performance

SONY stock opened at $19.05 on Thursday. The firm has a 50 day moving average of $29.11 and a 200-day moving average of $21.19. The firm has a market capitalization of $23.51 billion, a P/E ratio of 3.50 and a beta of 0.94. The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 0.26. Sony Group Co. has a 12 month low of $15.02 and a 12 month high of $20.18.

Sony Group (NYSE:SONY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. The company had revenue of $19.32 billion for the quarter, compared to analysts’ expectations of $17.42 billion. As a group, sell-side analysts predict that Sony Group Co. will post 3.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Daiwa America raised Sony Group to a “strong-buy” rating in a research report on Wednesday, September 18th. StockNews.com raised Sony Group from a “hold” rating to a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Sony Group has an average rating of “Buy” and an average price target of $21.60.

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.