JPMorgan Chase & Co. increased its position in shares of Sony Corp. (NYSE:SNE) by 23.7% during the second quarter, Holdings Channel reports. The firm owned 122,545 shares of the company’s stock after buying an additional 23,511 shares during the period. JPMorgan Chase & Co.’s holdings in Sony Corp. were worth $3,598,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Sony Corp. during the second quarter worth about $144,000. Checchi Capital Advisers LLC raised its stake in Sony Corp. by 3.8% in the second quarter. Checchi Capital Advisers LLC now owns 7,559 shares of the company’s stock worth $222,000 after buying an additional 274 shares during the period. Blair William & Co. IL bought a new stake in Sony Corp. during the second quarter worth about $237,000. Investment Counsel Inc. bought a new stake in Sony Corp. during the second quarter worth about $294,000. Finally, Eqis Capital Management Inc. bought a new stake in Sony Corp. during the second quarter worth about $300,000. Institutional investors and hedge funds own 6.60% of the company’s stock.
Sony Corp. (NYSE:SNE) traded up 1.98% on Tuesday, reaching $33.44. The company’s stock had a trading volume of 102,957 shares. Sony Corp. has a 52 week low of $19.90 and a 52 week high of $34.17. The stock’s 50 day moving average is $32.85 and its 200-day moving average is $29.71. The firm has a market capitalization of $42.19 billion, a PE ratio of 51.60 and a beta of 1.85.
Sony Corp. (NYSE:SNE) last released its quarterly earnings data on Friday, July 29th. The company reported $16.44 earnings per share for the quarter, beating the consensus estimate of ($0.28) by $16.72. Sony Corp. had a return on equity of 2.52% and a net margin of 1.02%. The company had revenue of $1,613.20 billion for the quarter, compared to analyst estimates of $1,682.98 billion. During the same period in the prior year, the company posted $70.52 EPS. The company’s revenue was down 10.8% compared to the same quarter last year. Analysts predict that Sony Corp. will post $0.63 EPS for the current year.
A number of equities research analysts have weighed in on SNE shares. Vetr upgraded Sony Corp. from a “hold” rating to a “buy” rating and set a $31.36 price objective for the company in a research note on Wednesday, July 13th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Sony Corp. in a research note on Thursday, June 30th. Deutsche Bank AG upgraded Sony Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, July 6th. TheStreet upgraded Sony Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. Finally, Zacks Investment Research upgraded Sony Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Sony Corp. presently has a consensus rating of “Buy” and a consensus target price of $37.25.
About Sony Corp.
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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