Allspring Global Investments Holdings LLC Increases Position in Sony Corporation $SONY

Key Points

• Allspring Global Investments Holdings LLC increased its position in Sony Corporation by 4,056.6% in the second quarter, acquiring 1,926,156 shares to reach a total holding of 1,973,638 shares valued at $50.27 million.
• Sony reported $0.30 earnings per share for the last quarter, surpassing the consensus estimate of $0.24, but had a revenue of $17.79 billion, falling short of anticipated figures.
• The average rating for Sony's stock is a "Moderate Buy" with an average target price of $33.00, as reiterated by Weiss Ratings on October 8th.

Allspring Global Investments Holdings LLC grew its position in shares of Sony Corporation (NYSE:SONY - Free Report) by 4,056.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,973,638 shares of the company's stock after buying an additional 1,926,156 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Sony were worth $50,269,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in SONY. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Sony during the first quarter valued at approximately $31,000. Trust Co. of Toledo NA OH purchased a new stake in shares of Sony during the second quarter valued at approximately $39,000. Zions Bancorporation National Association UT purchased a new stake in shares of Sony during the first quarter valued at approximately $47,000. Financial Management Professionals Inc. grew its holdings in shares of Sony by 81.5% during the second quarter. Financial Management Professionals Inc. now owns 1,980 shares of the company's stock valued at $52,000 after buying an additional 889 shares during the last quarter. Finally, Alpine Bank Wealth Management purchased a new stake in shares of Sony during the first quarter valued at approximately $60,000. Hedge funds and other institutional investors own 14.05% of the company's stock.

Sony Stock Down 0.3%

SONY opened at $28.80 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16. Sony Corporation has a 1-year low of $17.42 and a 1-year high of $30.28. The company has a market capitalization of $174.14 billion, a PE ratio of 22.85 and a beta of 0.95. The firm's 50 day simple moving average is $28.46 and its two-hundred day simple moving average is $26.12.

Sony (NYSE:SONY - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $18.88 billion. During the same period last year, the firm earned $189.90 earnings per share. Sony has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Sony Corporation will post 1.23 EPS for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of Sony in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $33.00.

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.

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