BKM Wealth Management LLC has decreased its stake in Sony Corporation (NYSE: SONY) by 12.7% during the second quarter of 2023, according to a recent filing with the Securities and Exchange Commission (SEC). Following the sale of 4,655 shares, BKM now holds 31,949 shares of Sony, valued at approximately $832,000.
Other institutional investors have also shown varying levels of interest in Sony’s stock. QRG Capital Management Inc. increased its position by 17.6% in the same quarter, acquiring an additional 87,649 shares to bring its total to 585,467 shares, worth around $15.24 million. Meanwhile, Compound Planning Inc. raised its stake by 18.7% in the first quarter, now owning 97,259 shares valued at $2.47 million.
BSW Wealth Partners made a significant move, boosting its stake by an impressive 87.0% in the first quarter, resulting in ownership of 26,662 shares valued at $677,000. Likewise, Mackenzie Financial Corp. increased its holdings by 30.6%, now owning 481,381 shares worth $12.22 million. Finally, Ballentine Partners LLC raised its stake by 18.4%, controlling 86,779 shares valued at $2.20 million. In total, hedge funds and institutional investors own approximately 14.05% of Sony’s stock.
Sony Stock Performance Overview
As of the latest trading session, Sony’s stock opened at $28.92. The company maintains a debt-to-equity ratio of 0.16 and a quick ratio of 1.03, with a current ratio of 1.09. The stock’s fifty-day moving average stands at $28.62, while its two-hundred day moving average is $26.20. Sony’s market capitalization is noted at $174.87 billion, with a price-to-earnings ratio of 22.95 and a beta of 0.95. The stock has fluctuated significantly over the past year, with a fifty-two week low of $17.42 and a high of $30.28.
Analysts have recently reassessed their positions on Sony stock. Zacks Research upgraded the rating from “hold” to “strong buy” in a note released on October 10, 2023. Weiss Ratings reaffirmed a “buy (b)” rating, while Cfra Research also raised its rating to “moderate buy.” Currently, one analyst has assigned a “strong buy” rating, five have given a “buy” rating, and one has issued a “hold” rating. According to MarketBeat.com, Sony has a consensus rating of “buy” and an average target price of $33.00.
About Sony Corporation
Sony Group Corporation designs, develops, produces, and sells a range of electronic equipment and devices across multiple markets, including consumer, professional, and industrial sectors. The company operates globally, including in regions such as Japan, the United States, Europe, China, and the Asia-Pacific. Sony also distributes software titles and add-on content through digital networks, alongside providing network services related to games, video, and music content.
For further insights into Sony’s market performance and the latest updates from hedge funds, investors can visit HoldingsChannel.com for the most recent 13F filings and insider trades associated with Sony Corporation.
