Aviance Capital Management LLC Trims Holdings in Sony Corp Ord (SNE)
Aviance Capital Management LLC trimmed its stake in Sony Corp Ord (NYSE:SNE) by 49.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,025 shares of the company’s stock after selling 188,488 shares during the period. Aviance Capital Management LLC’s holdings in Sony Corp Ord were worth $7,372,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of SNE. Primecap Management Co. CA increased its holdings in shares of Sony Corp Ord by 1.1% during the 1st quarter. Primecap Management Co. CA now owns 44,778,550 shares of the company’s stock worth $1,510,380,000 after purchasing an additional 495,500 shares during the period. Gamco Investors INC. ET AL grew its position in Sony Corp Ord by 0.6% during the second quarter. Gamco Investors INC. ET AL now owns 5,483,244 shares of the company’s stock worth $209,405,000 after buying an additional 33,900 shares in the last quarter. Bank of America Corp DE grew its position in Sony Corp Ord by 28.8% during the first quarter. Bank of America Corp DE now owns 3,200,092 shares of the company’s stock worth $107,939,000 after buying an additional 715,316 shares in the last quarter. Renaissance Technologies LLC grew its position in Sony Corp Ord by 56.2% during the second quarter. Renaissance Technologies LLC now owns 1,770,826 shares of the company’s stock worth $67,628,000 after buying an additional 636,926 shares in the last quarter. Finally, Minneapolis Portfolio Management Group LLC grew its position in Sony Corp Ord by 0.3% during the second quarter. Minneapolis Portfolio Management Group LLC now owns 1,211,121 shares of the company’s stock worth $46,253,000 after buying an additional 3,607 shares in the last quarter. Institutional investors own 6.54% of the company’s stock.
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Sony Corp Ord (NYSE SNE) traded down 0.19% during trading on Monday, hitting $37.27. The company had a trading volume of 296,844 shares. The stock has a 50-day moving average of $39.27 and a 200 day moving average of $36.56. Sony Corp Ord has a one year low of $27.72 and a one year high of $41.65. The company has a market capitalization of $47.08 billion, a price-to-earnings ratio of 39.11 and a beta of 1.76.
Sony Corp Ord (NYSE:SNE) last announced its earnings results on Tuesday, August 1st. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.08. Sony Corp Ord had a net margin of 1.67% and a return on equity of 4.17%. The firm had revenue of $1,858.10 billion for the quarter, compared to analyst estimates of $1,735.86 billion. During the same quarter in the prior year, the business posted $16.44 EPS. The business’s revenue was up 15.2% compared to the same quarter last year. Equities analysts forecast that Sony Corp Ord will post $2.21 EPS for the current fiscal year.
Several research firms have commented on SNE. Zacks Investment Research cut Sony Corp Ord from a “buy” rating to a “hold” rating in a report on Monday, June 12th. BidaskClub upgraded Sony Corp Ord from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Jefferies Group LLC restated a “buy” rating and set a $45.74 price objective on shares of Sony Corp Ord in a research report on Thursday, August 3rd. Citigroup Inc. lowered Sony Corp Ord from a “buy” rating to a “neutral” rating and cut their target price for the company from $40.60 to $39.93 in a research note on Monday, September 11th. Finally, Credit Suisse Group cut Sony Corp Ord from an “outperform” rating to a “neutral” rating in a research report on Tuesday, September 19th. Two analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $43.42.
Sony Corp Ord Profile
Sony Corporation (Sony) is engaged in the development, design, manufacture and sale of various kinds of electronic equipment, instruments and devices for consumer, professional and industrial markets, as well as game consoles and software. The Company’s segments include Mobile Communications, Game & Network Services, Imaging Products & Solutions, Home Entertainment & Sound, Devices, Pictures, Music, Financial Services and All Other.
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