Belpointe Asset Management LLC Takes Position in Sony Corp (SNE)
Belpointe Asset Management LLC purchased a new position in shares of Sony Corp (NYSE:SNE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,526 shares of the company’s stock, valued at approximately $580,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Proficio Capital Partners LLC lifted its position in shares of Sony by 5.6% during the second quarter. Proficio Capital Partners LLC now owns 2,643 shares of the company’s stock worth $105,000 after purchasing an additional 139 shares in the last quarter. Parallax Volatility Advisers L.P. lifted its position in shares of Sony by 206.3% during the second quarter. Parallax Volatility Advisers L.P. now owns 4,354 shares of the company’s stock worth $166,000 after purchasing an additional 8,451 shares in the last quarter. Cookson Peirce & Co. Inc. acquired a new stake in shares of Sony during the second quarter worth about $201,000. Opes Advisors Inc acquired a new stake in shares of Sony during the second quarter worth about $206,000. Finally, Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Sony during the second quarter worth about $212,000. 6.78% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently weighed in on the stock. Jefferies Group reaffirmed a “buy” rating and issued a $59.84 target price on shares of Sony in a report on Friday, November 17th. Citigroup cut shares of Sony from a “buy” rating to a “neutral” rating and reduced their target price for the company from $40.60 to $39.93 in a report on Monday, September 11th. Credit Suisse Group cut shares of Sony from an “outperform” rating to a “neutral” rating in a report on Tuesday, September 19th. Zacks Investment Research cut shares of Sony from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Finally, Morgan Stanley cut shares of Sony from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 11th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $46.94.
Shares of Sony Corp (SNE) traded down $0.20 during trading hours on Friday, reaching $44.45. 518,000 shares of the company traded hands, compared to its average volume of 855,488. The firm has a market capitalization of $56,417.82, a PE ratio of 25.08 and a beta of 1.78. Sony Corp has a 52-week low of $27.91 and a 52-week high of $48.33. The company has a current ratio of 0.86, a quick ratio of 0.71 and a debt-to-equity ratio of 0.17.
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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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