Sony Corporation $SONY Shares Bought by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC increased its stake in Sony Corporation by 34.3% in Q1, owning 64,583 shares valued at approximately $1.64 million.
• Sony's stock opened at $29.22, with a 12-month performance range between $17.42 and $29.41.
• Despite reporting earnings per share of $0.30 for the latest quarter, Sony fell short of revenue expectations with $17.79 billion compared to analysts' forecasts of $18.88 billion.

NewEdge Advisors LLC boosted its position in shares of Sony Corporation (NYSE:SONY - Free Report) by 34.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,583 shares of the company's stock after purchasing an additional 16,491 shares during the quarter. NewEdge Advisors LLC's holdings in Sony were worth $1,640,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. City Holding Co. acquired a new stake in Sony during the 1st quarter worth about $30,000. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Sony in the first quarter valued at approximately $31,000. Zions Bancorporation National Association UT acquired a new position in Sony in the first quarter valued at approximately $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Sony by 155.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,268 shares of the company's stock valued at $48,000 after acquiring an additional 1,380 shares during the last quarter. Finally, Ameliora Wealth Management Ltd. acquired a new position in Sony in the first quarter valued at approximately $56,000. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Sony Stock Performance

NYSE:SONY traded up $0.15 during mid-day trading on Monday, reaching $29.36. The stock had a trading volume of 2,898,925 shares, compared to its average volume of 3,426,146. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.09. The firm has a market capitalization of $177.53 billion, a price-to-earnings ratio of 23.30 and a beta of 0.94. Sony Corporation has a twelve month low of $17.42 and a twelve month high of $29.44. The business has a 50 day simple moving average of $26.45 and a 200 day simple moving average of $25.43.

Sony (NYSE:SONY - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.06. The firm had revenue of $17.79 billion during 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 quarter last year, the firm earned $189.90 earnings per share. Sony has set its FY 2025 guidance at EPS. On average, analysts expect that Sony Corporation will post 1.23 earnings per share for the current fiscal year.

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 equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Sony has a consensus 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.