Assetmark Inc. Sells 15,883 Shares of Sony Corporation (NYSE:SONY)

Key Points

• Assetmark Inc. has reduced its stake in Sony Corporation by 2.9%, selling 15,883 shares in the first quarter, leaving it with a total of 533,155 shares valued at approximately $13.5 million.
• Several large investors have significantly increased their stakes in Sony, with Capital Analysts LLC and Accent Capital Management LLC both raising their holdings by 400% during the fourth quarter.
• Research analysts have given Sony a consensus rating of "Moderate Buy", with a current price target averaging $28.00, while some ratings have been adjusted to hold.

Assetmark Inc. reduced its position in Sony Corporation (NYSE:SONY - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 533,155 shares of the company's stock after selling 15,883 shares during the quarter. Assetmark Inc.'s holdings in Sony were worth $13,537,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Capital Analysts LLC boosted its position in shares of Sony by 400.0% in the 4th quarter. Capital Analysts LLC now owns 1,170 shares of the company's stock worth $25,000 after buying an additional 936 shares in the last quarter. Accent Capital Management LLC grew its position in Sony by 400.0% in the fourth quarter. Accent Capital Management LLC now owns 1,380 shares of the company's stock valued at $29,000 after acquiring an additional 1,104 shares in the last quarter. City Holding Co. acquired a new stake in Sony in the first quarter valued at approximately $30,000. Bartlett & CO. Wealth Management LLC acquired a new stake in Sony in the first quarter valued at approximately $31,000. Finally, Operose Advisors LLC grew its position in Sony by 400.0% in the fourth quarter. Operose Advisors LLC now owns 1,520 shares of the company's stock valued at $32,000 after acquiring an additional 1,216 shares in the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Price Performance

Sony stock traded up $0.11 during mid-day trading on Wednesday, hitting $24.26. The company's stock had a trading volume of 567,140 shares, compared to its average volume of 5,295,031. The company has a quick ratio of 0.57, a current ratio of 0.70 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $146.69 billion, a P/E ratio of 19.66, a P/E/G ratio of 11.71 and a beta of 0.94. Sony Corporation has a twelve month low of $15.96 and a twelve month high of $26.94. The stock's fifty day moving average price is $25.44 and its two-hundred day moving average price is $24.29.

Analyst Ratings Changes

SONY has been the subject of several research analyst reports. Wall Street Zen cut Sony from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Wolfe Research reiterated a "peer perform" rating on shares of Sony in a research note on Monday, April 7th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $28.00.

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.