Sony Corporation $SONY Shares Bought by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management increased its stake in Sony Corporation by 9.2% during the second quarter, now holding 211,638 shares valued at about $5.5 million.
• Several institutional investors also raised their positions in Sony, including Brighton Jones LLC with a 422% increase in ownership during the fourth quarter.
• Analysts maintain a buy rating on Sony, with a consensus price target set at $33.00 following a recent earnings report where the company exceeded EPS expectations.

Ritholtz Wealth Management grew its position in Sony Corporation (NYSE:SONY - Free Report) by 9.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 211,638 shares of the company's stock after purchasing an additional 17,812 shares during the quarter. Ritholtz Wealth Management's holdings in Sony were worth $5,509,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SONY. Brighton Jones LLC grew its stake in Sony by 422.0% during the 4th quarter. Brighton Jones LLC now owns 19,908 shares of the company's stock worth $421,000 after buying an additional 16,094 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Sony by 21.9% in the first quarter. GAMMA Investing LLC now owns 39,179 shares of the company's stock worth $995,000 after acquiring an additional 7,041 shares in the last quarter. Adero Partners LLC grew its stake in shares of Sony by 9.4% during the first quarter. Adero Partners LLC now owns 11,348 shares of the company's stock worth $288,000 after acquiring an additional 975 shares during the last quarter. Sagespring Wealth Partners LLC increased its holdings in shares of Sony by 37.2% during the first quarter. Sagespring Wealth Partners LLC now owns 30,454 shares of the company's stock valued at $773,000 after acquiring an additional 8,250 shares in the last quarter. Finally, QRG Capital Management Inc. increased its holdings in shares of Sony by 15.5% during the first quarter. QRG Capital Management Inc. now owns 497,818 shares of the company's stock valued at $12,640,000 after acquiring an additional 66,680 shares in the last quarter. Hedge funds and other institutional investors own 14.05% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of Sony in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Sony currently has an average rating of "Moderate Buy" and a consensus price target of $33.00.

Sony Stock Performance

NYSE SONY opened at $28.80 on Wednesday. The firm has a market capitalization of $174.14 billion, a P/E ratio of 22.85 and a beta of 0.95. The stock has a 50-day simple moving average of $28.46 and a two-hundred day simple moving average of $26.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.09. Sony Corporation has a fifty-two week low of $17.42 and a fifty-two week high of $30.28.

Sony (NYSE:SONY - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.06. The firm had revenue of $17.79 billion for the quarter, compared to the consensus estimate of $18.88 billion. Sony had a return on equity of 13.88% and a net margin of 9.14%.During the same quarter in the prior year, the business earned $189.90 earnings per share. Sony has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Sony Corporation will post 1.23 earnings per share 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.

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