Sony Corporation $SONY Stock: Cabot Wealth Management Inc. Reduces Stake

Cabot Wealth Management Inc. trimmed its position in shares of Sony Corporation (NYSE:SONY) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 831,569 shares of the company’s stock after selling 22,563 shares during the quarter. Sony makes up 1.8% of Cabot Wealth Management Inc.’s holdings, making the stock its 15th biggest holding. Cabot Wealth Management Inc.’s holdings in Sony were worth $19,567,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. First Command Advisory Services Inc. raised its holdings in Sony by 317.6% in the 3rd quarter. First Command Advisory Services Inc. now owns 2,614 shares of the company’s stock valued at $62,000 after buying an additional 1,988 shares during the last quarter. Bahl & Gaynor LLC acquired a new stake in Sony during the 3rd quarter worth approximately $424,000. Keybank National Association OH grew its holdings in Sony by 6.9% during the 3rd quarter. Keybank National Association OH now owns 162,030 shares of the company’s stock worth $3,813,000 after acquiring an additional 10,529 shares during the last quarter. 71 West Capital Partners grew its holdings in Sony by 4.5% during the 3rd quarter. 71 West Capital Partners now owns 11,754 shares of the company’s stock worth $277,000 after acquiring an additional 509 shares during the last quarter. Finally, Hohimer Wealth Management LLC grew its holdings in Sony by 6.7% during the 3rd quarter. Hohimer Wealth Management LLC now owns 34,586 shares of the company’s stock worth $814,000 after acquiring an additional 2,185 shares during the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony News Roundup

These are some of the SONY news items that stood out recently:

• Positive Sentiment: A Zacks article describes SONY as a long-term momentum stock, offering a favorable screening signal, though it does not identify a new company-specific catalyst. Why Sony is a Top Momentum Stock for the Long-Term
• Neutral Sentiment: Sony is retiring its little-used PlayStation Plus PC app in December. The limited usage may reduce the business impact, but the move reinforces a pullback from PC cloud-streaming access. PlayStation Plus PC App Will Go Offline December 10
• Negative Sentiment: Sony canceled the live-service game Fairgame$, while reports say its $220 Pulse Elevate speakers have been delayed indefinitely because of a production issue. These setbacks raise concerns about product execution and the return on gaming investments. Sony Cancels Live-Service PS5 Game Fairgames Sony’s PlayStation Pulse Elevate speakers delayed indefinitely

Insider Activity

In other news, insider Kenji Tanaka sold 20,000 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $23.83, for a total transaction of $476,600.00. Following the transaction, the insider owned 43,899 shares of the company’s stock, valued at $1,046,113.17. This represents a 31.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.00% of the stock is owned by company insiders.

Sony Stock Down 0.7%

Sony stock opened at $26.52 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. Sony Corporation has a 12-month low of $19.32 and a 12-month high of $30.34. The firm’s fifty day moving average is $24.61 and its 200 day moving average is $22.44. The company has a market capitalization of $156.71 billion, a PE ratio of 21.22, a PEG ratio of 1.63 and a beta of 0.98.

Sony (NYSE:SONY) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.11. Sony had a negative net margin of 1.54% and a positive return on equity of 14.20%. The business had revenue of $21.77 billion during the quarter, compared to analysts’ expectations of $20.15 billion. During the same period last year, the company posted $60.10 earnings per share. The business’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, sell-side analysts predict that Sony Corporation will post 1.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SONY. Zacks Research downgraded shares of Sony from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 30th. Weiss Ratings upgraded shares of Sony from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Wall Street Zen cut shares of Sony from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Sanford C. Bernstein restated a “market perform” rating and issued a $26.00 price objective on shares of Sony in a report on Thursday, November 5th. Finally, Benchmark restated a “buy” rating on shares of Sony in a report on Monday, August 3rd. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.00.

Sony Company Profile

Sony Group Corporation is a Japan-based global entertainment and technology company, founded in Tokyo in 1946 by Masaru Ibuka and Akio Morita. Initially known as Tokyo Tsushin Kogyo, the company adopted the name Sony in 1958. Sony’s businesses include video games and network services through PlayStation; music recording and publishing; film and television production and distribution; consumer electronics, including televisions and cameras; and imaging and sensing technologies, including image sensors.