11,315 Shares in Sony Corporation $SONY Bought by Connecticut Wealth Management LLC

Key Points

• Connecticut Wealth Management LLC invested approximately $287,000 in Sony Corporation, acquiring 11,315 shares of the company during the first quarter.
• In addition, several institutional investors improved their stakes in Sony, with Aristotle Capital Management increasing holdings by 393.7% and Bank of America Corp DE by 377.7% during the fourth quarter.
• Sony's recent quarterly earnings showed EPS of $0.30, which exceeded analysts' estimates of $0.24, although revenue fell short of expectations at $17.79 billion.

Connecticut Wealth Management LLC acquired a new stake in Sony Corporation (NYSE:SONY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,315 shares of the company's stock, valued at approximately $287,000.

Several other hedge funds also recently modified their holdings of the stock. Aristotle Capital Management LLC lifted its holdings in Sony by 393.7% during the fourth quarter. Aristotle Capital Management LLC now owns 52,771,882 shares of the company's stock worth $1,116,653,000 after acquiring an additional 42,083,842 shares during the period. Bank of America Corp DE grew its position in shares of Sony by 377.7% in the fourth quarter. Bank of America Corp DE now owns 23,804,970 shares of the company's stock valued at $503,713,000 after purchasing an additional 18,821,902 shares in the last quarter. Northern Trust Corp grew its position in Sony by 3.4% during the first quarter. Northern Trust Corp now owns 7,845,521 shares of the company's stock worth $199,198,000 after buying an additional 257,838 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Sony by 416.6% in the 4th quarter. Royal Bank of Canada now owns 5,796,210 shares of the company's stock worth $122,649,000 after purchasing an additional 4,674,249 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Sony in the 1st quarter valued at about $78,905,000. Hedge funds and other institutional investors own 14.05% of the company's stock.

Analyst Ratings Changes

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

Sony Price Performance

Shares of SONY stock traded up $0.08 during trading hours on Wednesday, hitting $27.03. The stock had a trading volume of 3,283,791 shares, compared to its average volume of 3,726,557. The stock has a market capitalization of $163.44 billion, a price-to-earnings ratio of 21.33 and a beta of 0.94. Sony Corporation has a one year low of $17.42 and a one year 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 stock's 50-day moving average price is $25.94 and its two-hundred day moving average price is $25.20.

Sony (NYSE:SONY - Get Free Report) last released its quarterly 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 company had revenue of $17.79 billion during the quarter, compared to analyst estimates of $18.88 billion. Sony had a return on equity of 13.88% and a net margin of 9.14%.During the same quarter last year, the business posted $189.90 earnings per share. Sony has set its FY 2025 guidance at EPS. Equities analysts forecast that Sony Corporation will post 1.23 EPS for the current year.

Sony 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.