Icon Wealth Advisors LLC Cuts Holdings in Sony Group Co. (NYSE:SONY)

Icon Wealth Advisors LLC decreased its holdings in Sony Group Co. (NYSE:SONY) by 89.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 385 shares of the company’s stock after selling 3,323 shares during the period. Icon Wealth Advisors LLC’s holdings in Sony Group were worth $37,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. American National Bank increased its holdings in Sony Group by 11.3% in the 2nd quarter. American National Bank now owns 1,172 shares of the company’s stock worth $100,000 after buying an additional 119 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings 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 valued at $735,000 after acquiring an additional 124 shares during the last quarter. Belpointe Asset Management LLC grew its stake in shares of Sony Group by 1.4% in the second quarter. Belpointe Asset Management LLC now owns 9,265 shares of the company’s stock worth $787,000 after acquiring an additional 128 shares during the period. Dynamic Advisor Solutions LLC raised its holdings in shares of Sony Group by 1.7% during the second quarter. Dynamic Advisor Solutions LLC now owns 8,394 shares of the company’s stock valued at $713,000 after purchasing an additional 140 shares during the last quarter. Finally, Wealth Alliance lifted its position in Sony Group by 1.2% during the second quarter. Wealth Alliance now owns 11,977 shares of the company’s stock valued at $1,017,000 after purchasing an additional 141 shares during the period. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Analysts Set New Price Targets

SONY has been the subject of a number of research reports. StockNews.com lowered shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. Oppenheimer reduced their price objective on Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. TD Cowen lowered their target price on Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Finally, Daiwa America upgraded Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Sony Group presently has a consensus rating of “Buy” and a consensus price target of $24.00.

Sony Group Price Performance

NYSE SONY opened at $19.43 on Tuesday. The business’s fifty day moving average is $15.90 and its 200 day moving average is $7.86. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $20.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. The company has a market capitalization of $117.48 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 12.07 and a beta of 0.95.

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.