Pictet North America Advisors SA Boosts Stock Holdings in Sony Group Co. (NYSE:SONY)

Pictet North America Advisors SA lifted its stake in shares of Sony Group Co. (NYSE:SONY) by 19.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 243,975 shares of the company’s stock after acquiring an additional 39,688 shares during the period. Sony Group accounts for about 2.3% of Pictet North America Advisors SA’s portfolio, making the stock its 10th largest position. Pictet North America Advisors SA’s holdings in Sony Group were worth $23,561,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of SONY. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Sony Group during the 2nd quarter valued at $26,000. Sunbelt Securities Inc. acquired a new position in Sony Group during the first quarter worth $29,000. Ridgewood Investments LLC acquired a new position in Sony Group during the second quarter worth $41,000. Family Firm Inc. acquired a new position in Sony Group during the second quarter worth $44,000. Finally, Hobbs Group Advisors LLC acquired a new position in Sony Group during the second quarter worth $49,000. Institutional investors and hedge funds own 14.05% of the company’s stock.

Analyst Upgrades and Downgrades

SONY has been the topic of several research reports. Daiwa America upgraded shares of Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Finally, TD Cowen lowered their target price on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a report on Friday, October 11th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.66.

Sony Group Stock Performance

Shares of SONY stock opened at $17.89 on Wednesday. The company has a market cap of $22.08 billion, a P/E ratio of 3.29 and a beta of 0.94. The firm has a 50-day moving average of $29.42 and a 200-day moving average of $21.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47. Sony Group Co. has a one year low of $15.02 and a one year high of $20.18.

Sony Group (NYSE:SONY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $19.32 billion during the quarter, compared to analyst estimates of $17.42 billion. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. Equities research analysts forecast that Sony Group Co. will post 0.6 EPS for the current fiscal year.

Sony Group 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.