Assetmark Inc. Has $34.40 Million Stock Position in Sony Corporation $SONY

Assetmark Inc. lowered its stake in shares of Sony Corporation (NYSE:SONY) by 1.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,661,788 shares of the company’s stock after selling 28,605 shares during the period. Assetmark Inc.’s holdings in Sony were worth $34,399,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SONY. Baker Tilly Wealth Management LLC grew its position in shares of Sony by 3.6% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 11,655 shares of the company’s stock valued at $298,000 after acquiring an additional 409 shares during the period. Glenmede Investment Management LP lifted its stake in Sony by 1.0% in the 3rd quarter. Glenmede Investment Management LP now owns 42,478 shares of the company’s stock valued at $1,223,000 after purchasing an additional 416 shares during the last quarter. Mitchell & Pahl Private Wealth LLC grew its holdings in Sony by 1.1% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 40,335 shares of the company’s stock worth $1,033,000 after purchasing an additional 433 shares during the period. Nicolet Advisory Services LLC grew its holdings in Sony by 2.5% during the fourth quarter. Nicolet Advisory Services LLC now owns 18,097 shares of the company’s stock worth $456,000 after purchasing an additional 440 shares during the period. Finally, Binnacle Investments Inc increased its position in Sony by 81.7% during the third quarter. Binnacle Investments Inc now owns 1,032 shares of the company’s stock worth $30,000 after buying an additional 464 shares during the last quarter. 14.05% of the stock is owned by institutional investors.

Sony Price Performance

Shares of NYSE:SONY opened at $21.16 on Friday. The firm has a 50 day moving average of $21.26 and a 200-day moving average of $21.82. Sony Corporation has a 12 month low of $19.32 and a 12 month high of $30.34. The company has a current ratio of 1.18, a quick ratio of 0.94 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $124.99 billion, a PE ratio of -105.77, a PEG ratio of 1.70 and a beta of 0.94.

Sony (NYSE:SONY) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.13). The firm had revenue of $19.15 billion for the quarter, compared to analyst estimates of $18.43 billion. Sony had a positive return on equity of 12.20% and a negative net margin of 2.61%.The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $32.86 EPS. On average, equities research analysts predict that Sony Corporation will post 1.28 EPS for the current fiscal year.

Insider Activity at Sony

In related news, CEO Hiroki Totoki sold 225,000 shares of the company’s stock in a transaction on Friday, July 3rd. The stock was sold at an average price of $21.02, for a total transaction of $4,729,500.00. Following the completion of the sale, the chief executive officer directly owned 173,250 shares in the company, valued at $3,641,715. This represents a 56.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kenichiro Yoshida sold 400,000 shares of Sony stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $22.61, for a total value of $9,044,000.00. Following the completion of the transaction, the director owned 661,615 shares in the company, valued at approximately $14,959,115.15. This represents a 37.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 771,838 shares of company stock worth $16,866,580 in the last three months. Insiders own 7.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Benchmark reaffirmed a “buy” rating on shares of Sony in a research report on Monday, May 11th. Weiss Ratings restated a “sell (d+)” rating on shares of Sony in a research note on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Sony currently has an average rating of “Hold” and a consensus price target of $22.00.

Sony Profile

Sony Group Corporation (NYSE: SONY) is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.

Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.