Tocqueville Asset Management L.P. Sells 103,267 Shares of Sony Corporation (NYSE:SONY)

Tocqueville Asset Management L.P. lessened its stake in shares of Sony Corporation (NYSE:SONY) by 14.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 631,100 shares of the company’s stock after selling 103,267 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Sony were worth $16,024,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Analysts LLC boosted its position in shares of Sony by 400.0% during the 4th quarter. Capital Analysts LLC now owns 1,170 shares of the company’s stock worth $25,000 after purchasing an additional 936 shares in the last quarter. City Holding Co. bought a new position in Sony in the 1st quarter valued at about $30,000. Bartlett & CO. Wealth Management LLC bought a new position in Sony in the 1st quarter valued at about $31,000. Zions Bancorporation National Association UT bought a new position in Sony in the 1st quarter valued at about $47,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Sony by 155.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,268 shares of the company’s stock valued at $48,000 after acquiring an additional 1,380 shares in the last quarter. Institutional investors own 14.05% of the company’s stock.

Sony Price Performance

Shares of NYSE SONY opened at $28.73 on Friday. Sony Corporation has a fifty-two week low of $17.42 and a fifty-two week high of $29.16. The stock has a market cap of $173.75 billion, a price-to-earnings ratio of 22.80 and a beta of 0.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.09. The firm’s 50-day simple moving average is $25.41 and its 200 day simple moving average is $24.74.

Sony (NYSE:SONY) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. The firm had revenue of $17.79 billion during the quarter, compared to analyst estimates of $18.88 billion. Sony had a net margin of 9.14% and a return on equity of 13.88%. During the same quarter last year, the business posted $189.90 EPS. As a group, research analysts anticipate that Sony Corporation will post 1.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Sony from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.00.

About Sony

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.