LHM Inc. Invests $2.71 Million in Sony Corporation (NYSE:SONY)

Key Points

• LHM Inc. purchased 106,899 shares of Sony Corporation for approximately $2,714,000, making Sony roughly 0.9% of its investment portfolio.
• Wall Street downgraded Sony's rating from "buy" to "hold", with an average price target of $28.00.
• During its latest earnings report, Sony announced earnings per share of $0.30, which exceeded analysts' expectations of $0.24.

LHM Inc. acquired a new stake in Sony Corporation (NYSE:SONY - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 106,899 shares of the company's stock, valued at approximately $2,714,000. Sony makes up about 0.9% of LHM Inc.'s holdings, making the stock its 20th largest holding.

A number of other large investors have also recently made changes to their positions in the business. Capital Investment Advisory Services LLC lifted its position in shares of Sony by 3.1% during the first quarter. Capital Investment Advisory Services LLC now owns 12,977 shares of the company's stock valued at $329,000 after purchasing an additional 392 shares in the last quarter. Stonegate Investment Group LLC lifted its position in shares of Sony by 2.6% during the first quarter. Stonegate Investment Group LLC now owns 16,898 shares of the company's stock valued at $429,000 after purchasing an additional 433 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Sony by 9.0% during the first quarter. Hexagon Capital Partners LLC now owns 5,333 shares of the company's stock valued at $135,000 after purchasing an additional 442 shares in the last quarter. First Foundation Advisors lifted its position in shares of Sony by 3.4% during the first quarter. First Foundation Advisors now owns 14,543 shares of the company's stock valued at $369,000 after purchasing an additional 478 shares in the last quarter. Finally, Naviter Wealth LLC lifted its position in shares of Sony by 0.4% during the first quarter. Naviter Wealth LLC now owns 138,840 shares of the company's stock valued at $3,483,000 after purchasing an additional 530 shares in the last quarter. 14.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Sony from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $28.00.

Sony Stock Performance

NYSE SONY traded up $0.99 during trading hours on Friday, reaching $28.73. 5,182,950 shares of the company were exchanged, compared to its average volume of 3,966,222. Sony Corporation has a 1 year low of $17.42 and a 1 year high of $29.16. The business's 50 day simple moving average is $25.41 and its 200-day simple moving average is $24.74. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $173.75 billion, a P/E ratio of 22.80 and a beta of 0.91.

Sony (NYSE:SONY - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.06. Sony had a net margin of 9.14% and a return on equity of 13.88%. The business had revenue of $17.79 billion during the quarter, compared to the consensus estimate of $18.88 billion. During the same quarter last year, the company posted $189.90 earnings per share. On average, equities research analysts expect that Sony Corporation will post 1.23 earnings per share for the current year.

Sony 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.