Assetmark Inc. boosted its holdings in shares of Sony Corporation (NYSE:SONY - Free Report) by 15.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,690,393 shares of the company's stock after purchasing an additional 230,438 shares during the quarter. Assetmark Inc.'s holdings in Sony were worth $43,274,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Sound Income Strategies LLC bought a new position in Sony during the third quarter valued at $25,000. YANKCOM Partnership grew its holdings in shares of Sony by 748.7% in the fourth quarter. YANKCOM Partnership now owns 976 shares of the company's stock worth $25,000 after purchasing an additional 861 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Sony in the fourth quarter worth about $27,000. Ameriflex Group Inc. grew its holdings in shares of Sony by 304.0% in the third quarter. Ameriflex Group Inc. now owns 1,010 shares of the company's stock worth $29,000 after purchasing an additional 760 shares during the last quarter. Finally, Binnacle Investments Inc grew its holdings in shares of Sony by 81.7% in the third quarter. Binnacle Investments Inc now owns 1,032 shares of the company's stock worth $30,000 after purchasing an additional 464 shares during the last quarter. Hedge funds and other institutional investors own 14.05% of the company's stock.
Wall Street Analysts Forecast Growth
SONY has been the topic of a number of research analyst reports. Sanford C. Bernstein restated a "market perform" rating and issued a $22.00 price target (down from $30.00) on shares of Sony in a report on Tuesday, March 17th. Weiss Ratings cut shares of Sony from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, February 20th. Finally, Zacks Research cut shares of Sony from a "strong-buy" rating to a "hold" rating in a report on Monday, January 12th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $22.00.
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Key Headlines Impacting Sony
Here are the key news stories impacting Sony this week:
Sony Stock Down 0.5%
Shares of Sony stock opened at $20.95 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.22 and a quick ratio of 0.97. Sony Corporation has a 1 year low of $19.74 and a 1 year high of $30.34. The firm's 50-day moving average is $21.53 and its two-hundred day moving average is $25.07. The stock has a market cap of $124.64 billion, a price-to-earnings ratio of -104.74, a PEG ratio of 7.17 and a beta of 0.98.
Sony Company Profile
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Free Report)
Sony Group Corporation NYSE: SONY is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company's shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.
Sony's primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.
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