Belpointe Asset Management LLC Acquires 55,388 Shares of Sony Corporation $SONY

Key Points

• Belpointe Asset Management LLC significantly increased its stake in Sony Corporation by 662.9%, acquiring an additional 55,388 shares, bringing its total holdings to 63,744 shares worth approximately $1.6 million.
• Sony's stock is currently down 0.2%, trading at $28.65, with a market capitalization of $173.26 billion and a price-to-earnings ratio of 22.74.
• Analysts have mixed reviews for Sony, with one rating downgrading the stock from "buy" to "hold," while the consensus target price remains at $28.00.

Belpointe Asset Management LLC increased its holdings in shares of Sony Corporation (NYSE:SONY - Free Report) by 662.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,744 shares of the company's stock after buying an additional 55,388 shares during the period. Belpointe Asset Management LLC's holdings in Sony were worth $1,618,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SONY. Royal Bank of Canada raised its stake in shares of Sony by 416.6% during the fourth quarter. Royal Bank of Canada now owns 5,796,210 shares of the company's stock worth $122,649,000 after buying an additional 4,674,249 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Sony during the first quarter worth approximately $78,905,000. 1832 Asset Management L.P. raised its stake in shares of Sony by 702.4% during the first quarter. 1832 Asset Management L.P. now owns 1,318,299 shares of the company's stock worth $33,472,000 after buying an additional 1,154,010 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Sony by 124.5% during the first quarter. Ameriprise Financial Inc. now owns 2,060,705 shares of the company's stock worth $52,814,000 after buying an additional 1,142,849 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Sony by 2,995.3% during the first quarter. GAMMA Investing LLC now owns 994,755 shares of the company's stock worth $25,257,000 after buying an additional 962,617 shares during the last quarter. 14.05% of the stock is owned by institutional investors.

Sony Stock Down 0.2%

Sony stock opened at $28.65 on Thursday. The company's 50 day simple moving average is $26.22 and its 200 day simple moving average is $25.34. Sony Corporation has a fifty-two week low of $17.42 and a fifty-two week high of $29.16. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.09 and a quick ratio of 1.03. The firm has a market capitalization of $173.26 billion, a price-to-earnings ratio of 22.74 and a beta of 0.94.

Sony (NYSE:SONY - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.24 by $0.06. The firm had revenue of $17.79 billion for the quarter, compared to the consensus estimate of $18.88 billion. Sony had a net margin of 9.14% and a return on equity of 13.88%. During the same period last year, the company posted $189.90 EPS. Sony has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Sony Corporation will post 1.23 EPS for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Sony from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $28.00.

About Sony

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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