Hanson and Doremus Investment Management cut their stake in Sony Corp (NYSE: SNE) by 7.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund held 32,678 shares of the company's shares after selling 2,703 shares during the quarter. The holdings of Hanson & Doremus Investment Management in Sony were worth $ 1,578,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions within the company. Bank of New York Mellon Corp strengthened its position in Sony by 639.4% in the third quarter. The Bank of New York Mellon Corp currently owns 1,807,688 shares of the company's value for a value of $ 109,636,000 after having acquired an additional 1,563,202 shares during the last quarter. KEYWISE CAPITAL MANAGEMENT Ltd increased its position in Sony by 966.3% in the third quarter. KEYWISE CAPITAL MANAGEMENT Ltd now owns 844,500 shares of the company's shares worth $ 51,219,000 after the purchase of an additional 765,300 shares during the period. Renaissance Technologies LLC increased its position in Sony by 37.1% during the third quarter. Renaissance Technologies LLC now owns 1,450,500 company shares worth $ 87,973,000 after the acquisition of an additional 392,800 shares during the period. Anavon Capital LLP has acquired a new position in Sony in the third quarter of the value of $ 11,634,000. Finally, Marshall Wace North America L.P. acquired a new position in Sony in the third quarter of the value of $ 8,747,000. 7.54% of the capital is owned by institutional investors.
A number of research analysts recently commented on SNE's actions. Citigroup has updated Sony from a "neutral" rating to a "buy" rating and set a price target of $ 52.91 on the stock in a research report on Sunday, December 9th. Piper Jaffray Companies reiterated an "overweight" vote on Sony's shares in a research note on Friday 19 October. ValuEngine has lowered Sony from a "hold" rating to a "sell" rating in a research note on Monday 12 November. JPMorgan Chase & Co. has raised Sony from a "neutral" rating to a "buy" rating on a research note on Friday, November 30th. Finally, Macquarie lowered Sony from an "outperform" rating to a "neutral" rating on a research note on Friday, February 1st. One research analyst rated the stock with a sales rating, two issued a holding rating, five gave a purchase rating and one gave a strong purchase rating to the company. The company currently has a "Buy" consensus rating and an average target price of $ 64.73.
The shares of the SNE share were open for $ 45.79 on Friday. The company has a market capitalization of $ 57.86 billion, a price / earnings ratio of 13.92, a price / earnings / growth ratio of 1.00 and a beta of 1.42. The company has a rapid ratio of 0.76, a current ratio of 0.86 and a debt / equity ratio of 0.12. Sony Corp has a minimum of fifty-two weeks of $ 42.43 and a maximum of fifty-two weeks of $ 61.02.
Sony (NYSE: SNE) released its quarterly earnings data on Friday, February 1st. The company posted a profit of $ 2.93 per quarter, surpassing Thomson Reuters' consensus estimate of $ 1.90 of $ 1.03. The company posted revenue of $ 2,401.81 billion in the quarter, compared to the consensus estimate of $ 2,676.17 billion. Sony had a net return of 20.21% and a net margin of 9.48%. The company's quarterly revenues fell 10.1% year-on-year. During the same quarter of the previous year, the company posted a profit of $ 234.08 per share. On average, research analysts predict that Sony Corp will publish 5.53 earnings per share for the current year.
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Sony Corporation designs, develops, manufactures and sells electronic equipment, tools and devices for consumer, professional and industrial markets worldwide. The company offers network services related to games, videos and music content; and home and mobile game consoles, pre-packaged software and peripherals, as well as broadcast / professional technology, integrated circuit board and medical and imaging device solutions.
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