Morgan Stanley lowered its position in shares of Sony Corp. (NYSE:SNE) by 4.1% during the third quarter, Holdings Channel reports. The fund owned 2,149,382 shares of the company’s stock after selling 92,533 shares during the period. Morgan Stanley’s holdings in Sony Corp. were worth $71,381,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Brown Advisory Inc. boosted its stake in shares of Sony Corp. by 0.5% in the second quarter. Brown Advisory Inc. now owns 8,612 shares of the company’s stock worth $252,000 after buying an additional 42 shares during the period. Rhumbline Advisers boosted its stake in shares of Sony Corp. by 0.9% in the second quarter. Rhumbline Advisers now owns 14,689 shares of the company’s stock worth $431,000 after buying an additional 125 shares during the period. Checchi Capital Advisers LLC boosted its stake in shares of 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. Capstone Asset Management Co. boosted its stake in shares of Sony Corp. by 0.5% in the third quarter. Capstone Asset Management Co. now owns 80,537 shares of the company’s stock worth $2,675,000 after buying an additional 430 shares during the period. Finally, Eqis Capital Management Inc. boosted its stake in shares of Sony Corp. by 7.6% in the third quarter. Eqis Capital Management Inc. now owns 10,986 shares of the company’s stock worth $365,000 after buying an additional 779 shares during the period. 6.55% of the stock is currently owned by institutional investors and hedge funds.
Sony Corp. (NYSE:SNE) opened at 30.71 on Thursday. Sony Corp. has a 52 week low of $19.90 and a 52 week high of $34.17. The company has a market cap of $38.76 billion, a PE ratio of 78.54 and a beta of 1.92. The company has a 50-day moving average of $28.92 and a 200-day moving average of $31.12.
Sony Corp. (NYSE:SNE) last released its earnings results on Monday, November 7th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.11. Sony Corp. had a return on equity of 1.67% and a net margin of 0.67%. The business had revenue of $1,688.90 billion for the quarter, compared to analyst estimates of $16.90 billion. During the same quarter last year, the firm posted $26.10 earnings per share. The business’s revenue was down 10.8% compared to the same quarter last year. On average, equities analysts expect that Sony Corp. will post $0.46 EPS for the current year.
A number of brokerages have recently commented on SNE. TheStreet cut shares of Sony Corp. from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. Zacks Investment Research cut shares of Sony Corp. from a “hold” rating to a “sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Sony Corp. has an average rating of “Hold” and an average price target of $37.25.
Sony Corp. Company Profile
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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