Avalon Investment & Advisory lessened its stake in Sony Corp (NYSE:SNE) by 23.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,383 shares of the company’s stock after selling 10,801 shares during the period. Avalon Investment & Advisory’s holdings in Sony were worth $2,377,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Truewealth LLC boosted its position in Sony by 28.9% in the 2nd quarter. Truewealth LLC now owns 584 shares of the company’s stock worth $40,000 after purchasing an additional 131 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in Sony by 41.5% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 498 shares of the company’s stock worth $34,000 after purchasing an additional 146 shares in the last quarter. Allworth Financial LP boosted its position in Sony by 98.0% in the 2nd quarter. Allworth Financial LP now owns 404 shares of the company’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Harvest Group Wealth Management LLC boosted its position in Sony by 58.3% in the 2nd quarter. Harvest Group Wealth Management LLC now owns 543 shares of the company’s stock worth $37,000 after purchasing an additional 200 shares in the last quarter. Finally, Berman Capital Advisors LLC lifted its position in shares of Sony by 45.4% during the 2nd quarter. Berman Capital Advisors LLC now owns 657 shares of the company’s stock valued at $45,000 after buying an additional 205 shares in the last quarter. Institutional investors and hedge funds own 7.66% of the company’s stock.
Shares of NYSE:SNE traded down $1.85 during midday trading on Thursday, hitting $79.25. 38,462 shares of the company’s stock were exchanged, compared to its average volume of 1,033,158. The stock has a 50 day moving average price of $76.56 and a 200-day moving average price of $67.30. Sony Corp has a 12 month low of $50.94 and a 12 month high of $84.14. The company has a market cap of $103.79 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 3.39 and a beta of 1.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.93 and a quick ratio of 0.84.
Sony (NYSE:SNE) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $1.30. The firm had revenue of $18.31 billion during the quarter. Sony had a net margin of 8.00% and a return on equity of 13.78%. On average, analysts anticipate that Sony Corp will post 3.79 EPS for the current fiscal year.
A number of research analysts have recently issued reports on SNE shares. Zacks Investment Research upgraded Sony from a “hold” rating to a “strong-buy” rating and set a $95.00 target price on the stock in a research report on Wednesday, August 5th. Oppenheimer increased their price objective on Sony from $70.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Goldman Sachs Group began coverage on Sony in a research note on Wednesday, July 29th. They issued a “conviction-buy” rating for the company. ValuEngine downgraded Sony from a “hold” rating to a “sell” rating in a research note on Friday, August 7th. Finally, Macquarie downgraded Sony from an “outperform” rating to a “neutral” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Sony currently has an average rating of “Buy” and a consensus price target of $95.67.
Sony Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets worldwide. The company offers network services related to games, videos, and music contents; and home and portable game consoles, packaged software, and peripheral devices, as well as broadcast/professional, integrated circuit card technology, and medical and imaging device solutions.
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