PNC Financial Services Group Inc. Sells 48,228 Shares of Sony Group Co. (NYSE:SONY)

PNC Financial Services Group Inc. trimmed its position in shares of Sony Group Co. (NYSE:SONY) by 46.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,592 shares of the company’s stock after selling 48,228 shares during the period. PNC Financial Services Group Inc.’s holdings in Sony Group were worth $5,359,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. CVA Family Office LLC purchased a new stake in Sony Group during the fourth quarter valued at $27,000. Fortitude Family Office LLC purchased a new stake in shares of Sony Group in the 4th quarter worth $31,000. Pacific Capital Wealth Advisors Inc. purchased a new position in Sony Group during the fourth quarter valued at $34,000. Pinnacle Bancorp Inc. bought a new stake in Sony Group during the fourth quarter valued at about $39,000. Finally, NBC Securities Inc. purchased a new stake in Sony Group in the third quarter worth about $51,000. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Sony Group Trading Down 0.6 %

Shares of NYSE:SONY opened at $80.29 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.66 and a quick ratio of 0.52. The firm has a market capitalization of $99.10 billion, a P/E ratio of 14.76 and a beta of 0.95. The business’s 50-day moving average is $83.50 and its 200 day moving average is $88.47. Sony Group Co. has a 1 year low of $75.11 and a 1 year high of $100.94.

Sony Group (NYSE:SONY) last released its earnings results on Tuesday, May 14th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.21. The firm had revenue of $23.45 billion for the quarter, compared to the consensus estimate of $18.97 billion. Sony Group had a return on equity of 13.05% and a net margin of 7.95%. During the same period in the prior year, the firm earned $0.78 EPS. On average, research analysts predict that Sony Group Co. will post 5.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on SONY. StockNews.com raised shares of Sony Group from a “hold” rating to a “buy” rating in a report on Wednesday. Oppenheimer restated an “outperform” rating and set a $108.00 price objective on shares of Sony Group in a research report on Monday, February 26th. Finally, Macquarie downgraded Sony Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Sony Group has a consensus rating of “Moderate Buy” and a consensus price target of $108.00.

Sony Group 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.