Harel Insurance Investments & Financial Services Ltd. lowered its stake in Sony Corp (NYSE:SNE) by 49.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,050 shares of the company’s stock after selling 7,020 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Sony were worth $340,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of SNE. Belpointe Asset Management LLC increased its holdings in Sony by 1.4% in the third quarter. Belpointe Asset Management LLC now owns 15,980 shares of the company’s stock worth $969,000 after buying an additional 226 shares during the last quarter. GWM Advisors LLC raised its holdings in shares of Sony by 5.1% in the 4th quarter. GWM Advisors LLC now owns 5,142 shares of the company’s stock valued at $248,000 after purchasing an additional 250 shares in the last quarter. Flagship Harbor Advisors LLC boosted its position in shares of Sony by 11.3% during the 4th quarter. Flagship Harbor Advisors LLC now owns 7,343 shares of the company’s stock valued at $354,000 after purchasing an additional 745 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in shares of Sony by 14.3% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,835 shares of the company’s stock worth $474,000 after acquiring an additional 1,230 shares during the last quarter. Finally, Wetherby Asset Management Inc. grew its position in shares of Sony by 4.4% in the 3rd quarter. Wetherby Asset Management Inc. now owns 29,545 shares of the company’s stock valued at $1,792,000 after purchasing an additional 1,254 shares during the period. 7.54% of the stock is currently owned by hedge funds and other institutional investors.
SNE has been the subject of several research analyst reports. Citigroup upgraded Sony from a “neutral” rating to a “buy” rating and set a $52.91 price objective for the company in a report on Sunday, December 9th. JPMorgan Chase & Co. upgraded shares of Sony from a “neutral” rating to a “buy” rating in a research report on Friday, November 30th. Zacks Investment Research raised Sony from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Thursday, January 17th. ValuEngine raised Sony from a “sell” rating to a “hold” rating in a research note on Wednesday, December 12th. Finally, Macquarie lowered shares of Sony from an “outperform” rating to a “neutral” rating in a research report on Friday, February 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $64.73.
Sony (NYSE:SNE) last announced its earnings results on Friday, February 1st. The company reported $2.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.90 by $1.03. The firm had revenue of $2,401.81 billion for the quarter, compared to analyst estimates of $2,676.17 billion. Sony had a net margin of 9.48% and a return on equity of 20.21%. Sony’s revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the business earned $234.08 earnings per share. On average, sell-side analysts anticipate that Sony Corp will post 5.53 earnings per share for the current year.
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Sony Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets worldwide. The company offers network services related to games, videos, and music contents; and home and portable game consoles, packaged software, and peripheral devices, as well as broadcast/professional, integrated circuit card technology, and medical and imaging device solutions.
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