American National Bank Has $100,000 Stake in Sony Group Co. (NYSE:SONY)

American National Bank raised its stake in shares of Sony Group Co. (NYSE:SONY) by 11.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,172 shares of the company’s stock after buying an additional 119 shares during the quarter. American National Bank’s holdings in Sony Group were worth $100,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Sony Group during the second quarter worth about $26,000. Sunbelt Securities Inc. bought a new position in shares of Sony Group during the 1st quarter valued at about $29,000. Rise Advisors LLC lifted its holdings in shares of Sony Group by 259.2% during the 1st quarter. Rise Advisors LLC now owns 352 shares of the company’s stock valued at $30,000 after purchasing an additional 254 shares in the last quarter. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Sony Group in the 4th quarter valued at approximately $34,000. Finally, Hobbs Group Advisors LLC bought a new stake in Sony Group during the 2nd quarter worth approximately $49,000. 14.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Sony Group has an average rating of “Moderate Buy” and an average target price of $108.00.

Sony Group Stock Down 1.7 %

Shares of SONY stock traded down $1.55 on Thursday, hitting $91.24. 509,314 shares of the stock were exchanged, compared to its average volume of 847,329. The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $112.61 billion, a P/E ratio of 16.89 and a beta of 0.94. Sony Group Co. has a fifty-two week low of $75.11 and a fifty-two week high of $100.88. The business has a 50-day moving average of $87.22 and a 200 day moving average of $86.09.

Sony Group’s stock is scheduled to split on the morning of Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly created shares will be issued to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.11. The business had revenue of $19.32 billion during the quarter, compared to the consensus estimate of $17.42 billion. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. Equities analysts anticipate that Sony Group Co. will post 5.68 EPS for the current 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.