Grassi Investment Management Reduces Stake in Sony Corporation $SONY

Grassi Investment Management decreased its stake in Sony Corporation (NYSE:SONY) by 6.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,875 shares of the company’s stock after selling 1,000 shares during the quarter. Grassi Investment Management’s holdings in Sony were worth $361,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SONY. City Holding Co. purchased a new stake in shares of Sony during the first quarter valued at $30,000. Bartlett & CO. Wealth Management LLC purchased a new stake in Sony during the first quarter worth $31,000. Zions Bancorporation National Association UT purchased a new stake in shares of Sony during the 1st quarter worth $47,000. Financial Management Professionals Inc. lifted its position in shares of Sony by 81.5% during the second quarter. Financial Management Professionals Inc. now owns 1,980 shares of the company’s stock valued at $52,000 after buying an additional 889 shares during the last quarter. Finally, Ameliora Wealth Management Ltd. acquired a new stake in Sony in the first quarter valued at approximately $56,000. 14.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sony in a research report on Saturday, September 27th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Sony presently has an average rating of “Moderate Buy” and an average target price of $28.00.

Sony Trading Up 3.1%

Shares of SONY stock opened at $28.96 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16. The stock has a market cap of $175.11 billion, a price-to-earnings ratio of 22.98 and a beta of 0.95. The company’s 50-day moving average price is $27.76 and its 200-day moving average price is $25.92. Sony Corporation has a twelve month low of $17.42 and a twelve month high of $30.25.

Sony (NYSE:SONY) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. Sony had a return on equity of 13.88% and a net margin of 9.14%.The business had revenue of $17.79 billion for the quarter, compared to analyst estimates of $18.88 billion. During the same quarter in the prior year, the company posted $189.90 EPS. Sony has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Sony Corporation will post 1.23 earnings per share for the current year.

Sony 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.