Sony Corporation $SONY Shares Sold by Tocqueville Asset Management L.P.

Key Points

• Tocqueville Asset Management L.P. reduced its position in Sony Corporation by 14.1%, now holding 631,100 shares valued at $16,024,000.
• Sony's stock price rose by 3.6%, with current shares trading at $28.73, while analysts have given it a consensus rating of "Moderate Buy."
• Despite a net margin of 9.14%, Sony's recent quarterly revenue fell short of expectations, reporting $17.79 billion against an estimated $18.88 billion.

Tocqueville Asset Management L.P. reduced its stake in shares of Sony Corporation (NYSE:SONY - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 631,100 shares of the company's stock after selling 103,267 shares during the period. Tocqueville Asset Management L.P.'s holdings in Sony were worth $16,024,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Analysts LLC grew its holdings in Sony by 400.0% during the 4th quarter. Capital Analysts LLC now owns 1,170 shares of the company's stock worth $25,000 after acquiring an additional 936 shares in the last quarter. City Holding Co. acquired a new position in Sony during the 1st quarter worth $30,000. Bartlett & CO. Wealth Management LLC acquired a new position in Sony during the 1st quarter worth $31,000. Zions Bancorporation National Association UT acquired a new position in Sony during the 1st quarter worth $47,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Sony by 155.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,268 shares of the company's stock worth $48,000 after acquiring an additional 1,380 shares in the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Stock Performance

Shares of NYSE SONY traded down $0.36 during midday trading on Monday, hitting $28.38. The company's stock had a trading volume of 3,241,996 shares, compared to its average volume of 4,071,374. Sony Corporation has a 1-year low of $17.42 and a 1-year high of $29.16. The firm's fifty day moving average price is $25.45 and its 200-day moving average price is $24.82. 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 cap of $171.63 billion, a P/E ratio of 22.52 and a beta of 0.91.

Sony (NYSE:SONY - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. Sony had a net margin of 9.14% and a return on equity of 13.88%. The business had revenue of $17.79 billion during the quarter, compared to analyst estimates of $18.88 billion. During the same period in the previous year, the business posted $189.90 EPS. On average, sell-side analysts forecast that Sony Corporation will post 1.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Sony from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Sony presently has an average rating of "Moderate Buy" and an average target price of $28.00.

Sony Company 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.