Sony Corp (NYSE:SNE) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its holdings in Sony Corp (NYSE:SNE) by 83.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 56,633 shares of the company’s stock after selling 290,084 shares during the period. PNC Financial Services Group Inc.’s holdings in Sony were worth $2,393,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Sony in the 4th quarter worth approximately $2,607,000. LMR Partners LLP bought a new position in shares of Sony in the 4th quarter worth approximately $19,478,000. LPL Financial LLC raised its position in shares of Sony by 3.6% in the 4th quarter. LPL Financial LLC now owns 35,481 shares of the company’s stock worth $1,713,000 after acquiring an additional 1,232 shares in the last quarter. Bailard Inc. raised its position in shares of Sony by 16.7% in the 1st quarter. Bailard Inc. now owns 48,965 shares of the company’s stock worth $2,068,000 after acquiring an additional 6,999 shares in the last quarter. Finally, AdvisorNet Financial Inc bought a new position in shares of Sony in the 4th quarter worth approximately $91,000. 7.83% of the stock is owned by hedge funds and other institutional investors.

SNE stock opened at $49.67 on Friday. Sony Corp has a twelve month low of $41.91 and a twelve month high of $61.02. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.76. The company has a market cap of $62.39 billion, a P/E ratio of 7.72, a P/E/G ratio of 1.70 and a beta of 1.39.

Sony (NYSE:SNE) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.43. Sony had a return on equity of 21.78% and a net margin of 10.54%. The company had revenue of $2,127.50 billion during the quarter, compared to analyst estimates of $2,040.96 billion. During the same quarter last year, the company earned $41.20 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities research analysts forecast that Sony Corp will post 3.77 earnings per share for the current fiscal year.

Several research analysts have recently issued reports on SNE shares. Macquarie raised Sony from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 23rd. Zacks Investment Research raised Sony from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Monday, March 4th. CLSA reissued a “buy” rating on shares of Sony in a research report on Friday, March 22nd. ValuEngine lowered Sony from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 3rd. Finally, Jefferies Financial Group lowered Sony from a “buy” rating to a “hold” rating and decreased their target price for the stock from $77.62 to $44.04 in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $50.32.

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Sony Profile

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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