Cabot Wealth Management Inc. Sells 9,004 Shares of Sony Corp (SNE)

Cabot Wealth Management Inc. reduced its position in shares of Sony Corp (NYSE:SNE) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 201,020 shares of the company’s stock after selling 9,004 shares during the period. Sony makes up about 2.6% of Cabot Wealth Management Inc.’s portfolio, making the stock its 6th biggest holding. Cabot Wealth Management Inc.’s holdings in Sony were worth $12,192,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SNE. Bank of America Corp DE raised its holdings in Sony by 20.8% in the 2nd quarter. Bank of America Corp DE now owns 4,111,969 shares of the company’s stock valued at $210,780,000 after acquiring an additional 709,208 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Sony by 16.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,619,643 shares of the company’s stock valued at $83,022,000 after acquiring an additional 223,543 shares in the last quarter. Boston Partners acquired a new position in Sony in the 2nd quarter valued at $71,195,000. Northern Trust Corp raised its holdings in Sony by 8.9% in the 2nd quarter. Northern Trust Corp now owns 1,273,141 shares of the company’s stock valued at $65,261,000 after acquiring an additional 104,499 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Sony by 6.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,057,700 shares of the company’s stock valued at $54,218,000 after acquiring an additional 62,100 shares in the last quarter. 7.69% of the stock is owned by institutional investors and hedge funds.

Shares of SNE opened at $53.43 on Wednesday. Sony Corp has a 52-week low of $42.90 and a 52-week high of $61.02. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.80 and a current ratio of 0.92. The firm has a market capitalization of $66.22 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 1.33 and a beta of 1.41.

Sony (NYSE:SNE) last issued its quarterly earnings results on Tuesday, July 31st. The company reported $1.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.44. Sony had a return on equity of 16.74% and a net margin of 7.32%. The company had revenue of $1,953.62 billion for the quarter, compared to analyst estimates of $1,882.28 billion. During the same quarter last year, the company posted $62.70 EPS. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts expect that Sony Corp will post 4.16 earnings per share for the current year.

SNE has been the subject of several analyst reports. ValuEngine raised Sony from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. Zacks Investment Research cut Sony from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Credit Suisse Group raised Sony from a “neutral” rating to an “outperform” rating in a report on Monday, September 10th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Sony in a report on Friday, October 19th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $74.15.

About Sony

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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Institutional Ownership by Quarter for Sony (NYSE:SNE)

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