Avantax Advisory Services Inc. Purchases 30,381 Shares of Sony Corporation (NYSE:SONY)

Key Points

• Avantax Advisory Services Inc. increased its stake in Sony Corporation by 36.0% during the first quarter, holding 114,733 shares valued at approximately $2.9 million.
• Several institutional investors, including Capital Investment Advisory Services and Hexagon Capital Partners, also increased their holdings in Sony, reflecting growing confidence in the stock.
• Analysts have mixed ratings on Sony, with a consensus rating of "Moderate Buy" and a target price of $28.00, indicating potential upside for investors.

Avantax Advisory Services Inc. raised its position in Sony Corporation (NYSE:SONY - Free Report) by 36.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 114,733 shares of the company's stock after acquiring an additional 30,381 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Sony were worth $2,913,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Capital Investment Advisory Services LLC raised its stake in Sony by 3.1% during the 1st quarter. Capital Investment Advisory Services LLC now owns 12,977 shares of the company's stock worth $329,000 after acquiring an additional 392 shares during the period. Stonegate Investment Group LLC boosted its stake in Sony by 2.6% in the 1st quarter. Stonegate Investment Group LLC now owns 16,898 shares of the company's stock worth $429,000 after purchasing an additional 433 shares during the period. Hexagon Capital Partners LLC grew its holdings in Sony by 9.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 5,333 shares of the company's stock valued at $135,000 after buying an additional 442 shares in the last quarter. Naviter Wealth LLC raised its position in shares of Sony by 0.4% during the first quarter. Naviter Wealth LLC now owns 138,840 shares of the company's stock valued at $3,483,000 after buying an additional 530 shares during the last quarter. Finally, Wedmont Private Capital lifted its holdings in shares of Sony by 3.6% in the first quarter. Wedmont Private Capital now owns 16,108 shares of the company's stock worth $409,000 after buying an additional 555 shares in the last quarter. 14.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SONY. Wolfe Research reaffirmed a "peer perform" rating on shares of Sony in a research note on Monday, April 7th. Wall Street Zen lowered Sony from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $28.00.

Sony Price Performance

Shares of Sony stock traded up $0.07 during trading hours on Friday, reaching $24.39. The company's stock had a trading volume of 4,949,700 shares, compared to its average volume of 4,038,106. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.70 and a quick ratio of 0.57. Sony Corporation has a one year low of $15.96 and a one year high of $26.94. The firm has a 50 day moving average price of $25.38 and a 200-day moving average price of $24.35. The stock has a market cap of $147.50 billion, a P/E ratio of 19.77, a P/E/G ratio of 11.87 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.