Gabelli Funds LLC lowered its position in Sony Corp (NYSE:SNE) by 4.2% in the third quarter, Holdings Channel reports. The fund owned 2,699,900 shares of the company’s stock after selling 117,000 shares during the period. Sony makes up approximately 0.9% of Gabelli Funds LLC’s portfolio, making the stock its 4th biggest holding. Gabelli Funds LLC’s holdings in Sony were worth $163,749,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Sageworth Trust Co acquired a new stake in Sony during the second quarter worth approximately $103,000. Zions Bancorporation acquired a new stake in Sony during the third quarter worth approximately $107,000. First Hawaiian Bank acquired a new stake in Sony during the third quarter worth approximately $120,000. Chicago Partners Investment Group LLC raised its holdings in Sony by 60.3% during the second quarter. Chicago Partners Investment Group LLC now owns 2,380 shares of the company’s stock worth $122,000 after purchasing an additional 895 shares in the last quarter. Finally, Financial Architects Inc acquired a new stake in Sony during the third quarter worth approximately $133,000. Institutional investors own 7.70% of the company’s stock.
A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Sony from a “sell” rating to a “hold” rating and set a $63.00 price objective on the stock in a report on Friday, August 3rd. Piper Jaffray Companies reissued an “overweight” rating on shares of Sony in a report on Friday, October 19th. ValuEngine cut shares of Sony from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Finally, Credit Suisse Group raised shares of Sony from a “neutral” rating to an “outperform” rating in a report on Monday, September 10th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Sony currently has an average rating of “Hold” and a consensus target price of $74.15.
Shares of Sony stock opened at $53.66 on Monday. The firm has a market capitalization of $67.80 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 1.17 and a beta of 1.63. Sony Corp has a 12 month low of $44.37 and a 12 month high of $61.02. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 0.92.
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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