HB Wealth Management LLC Grows Position in Sony Corporation (NYSE:SONY)

Key Points

• HB Wealth Management LLC increased its stake in Sony Corporation by 156.3%, acquiring 32,272 shares valued at approximately $819,000.
• Other institutional investors significantly raised their stakes in Sony, with Aristotle Capital Management increasing theirs by 393.7% and Bank of America by 377.7%.
• Sony's stock has shown a 0.2% increase recently and currently trades around $24.21, with a one-year range between $15.96 and $26.94.

HB Wealth Management LLC boosted its position in shares of Sony Corporation (NYSE:SONY - Free Report) by 156.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,272 shares of the company's stock after buying an additional 19,680 shares during the period. HB Wealth Management LLC's holdings in Sony were worth $819,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SONY. Forum Financial Management LP lifted its stake in shares of Sony by 536.0% in the fourth quarter. Forum Financial Management LP now owns 115,250 shares of the company's stock worth $2,439,000 after acquiring an additional 97,130 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Sony by 435.8% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 582,400 shares of the company's stock worth $12,323,000 after acquiring an additional 473,700 shares during the period. BSW Wealth Partners lifted its stake in Sony by 87.0% in the first quarter. BSW Wealth Partners now owns 26,662 shares of the company's stock valued at $677,000 after buying an additional 12,404 shares during the period. Ameriprise Financial Inc. lifted its stake in Sony by 386.6% in the fourth quarter. Ameriprise Financial Inc. now owns 917,856 shares of the company's stock valued at $19,424,000 after buying an additional 729,218 shares during the period. Finally, Ballentine Partners LLC increased its holdings in shares of Sony by 18.4% during the first quarter. Ballentine Partners LLC now owns 86,779 shares of the company's stock valued at $2,203,000 after acquiring an additional 13,493 shares in the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wall Street Zen downgraded Sony from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Wolfe Research restated a "peer perform" rating on shares of Sony in a report on Monday, April 7th. Two equities research 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. Based on data from MarketBeat.com, Sony has an average rating of "Moderate Buy" and an average price target of $28.00.

Sony Stock Performance

Shares of NYSE SONY traded up $0.07 during trading on Friday, reaching $24.39. 4,949,700 shares of the stock traded hands, compared to its average volume of 4,038,106. Sony Corporation has a 52-week low of $15.96 and a 52-week high of $26.94. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.70 and a quick ratio of 0.57. The company has a 50-day moving average of $25.38 and a 200-day moving average of $24.35. The stock has a market capitalization of $147.50 billion, a P/E ratio of 19.75, a price-to-earnings-growth ratio of 11.89 and a beta of 0.91.

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.