Financial Advocates Investment Management lowered its stake in Oracle Co. (NYSE:ORCL) by 39.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,527 shares of the enterprise software provider’s stock after selling 2,272 shares during the quarter. Financial Advocates Investment Management’s holdings in Oracle were worth $115,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Kentucky Retirement Systems acquired a new stake in shares of Oracle during the third quarter worth about $11,085,000. B. Riley Wealth Management Inc. acquired a new stake in shares of Oracle during the third quarter worth about $314,000. Morgan Stanley lifted its position in shares of Oracle by 20.1% during the third quarter. Morgan Stanley now owns 19,959,479 shares of the enterprise software provider’s stock worth $1,029,110,000 after purchasing an additional 3,340,653 shares in the last quarter. ANTIPODES PARTNERS Ltd lifted its position in shares of Oracle by 15.2% during the third quarter. ANTIPODES PARTNERS Ltd now owns 2,125,137 shares of the enterprise software provider’s stock worth $109,572,000 after purchasing an additional 280,846 shares in the last quarter. Finally, Peninsula Wealth LLC lifted its position in shares of Oracle by 48.4% during the third quarter. Peninsula Wealth LLC now owns 213,855 shares of the enterprise software provider’s stock worth $11,026,000 after purchasing an additional 69,743 shares in the last quarter. 47.39% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on ORCL shares. Standpoint Research raised shares of Oracle from a “hold” rating to a “buy” rating and set a $42.69 price target on the stock in a research report on Wednesday, December 26th. Zacks Investment Research reissued a “hold” rating on shares of Oracle in a research report on Monday, December 31st. Barclays lowered shares of Oracle from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $60.00 to $55.00 in a research note on Wednesday, January 9th. Atlantic Securities initiated coverage on shares of Oracle in a research note on Wednesday, January 9th. They set an “underweight” rating and a $45.00 target price on the stock. Finally, Morgan Stanley lowered shares of Oracle from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $57.00 to $53.00 in a research note on Tuesday, January 15th. Three analysts have rated the stock with a sell rating, nineteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $52.53.
In other Oracle news, EVP Dorian Daley sold 125,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $52.84, for a total value of $6,605,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $51.51, for a total transaction of $193,162.50. Following the completion of the transaction, the director now owns 27,969 shares in the company, valued at $1,440,683.19. The disclosure for this sale can be found here. Insiders sold 1,773,750 shares of company stock worth $95,395,063 over the last quarter. 32.00% of the stock is currently owned by insiders.
Shares of Oracle stock opened at $54.52 on Friday. The company has a market capitalization of $225.69 billion, a price-to-earnings ratio of 19.33, a P/E/G ratio of 1.81 and a beta of 1.08. Oracle Co. has a 52 week low of $42.40 and a 52 week high of $54.91. The company has a debt-to-equity ratio of 2.13, a quick ratio of 2.65 and a current ratio of 2.65.
Oracle (NYSE:ORCL) last announced its quarterly earnings results on Thursday, March 14th. The enterprise software provider reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.02. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.59 billion. Oracle had a net margin of 27.14% and a return on equity of 34.03%. The firm’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.83 earnings per share. Analysts anticipate that Oracle Co. will post 3.08 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Thursday, April 11th will be paid a $0.24 dividend. This is a positive change from Oracle’s previous quarterly dividend of $0.19. This represents a $0.96 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Wednesday, April 10th. Oracle’s dividend payout ratio is currently 34.04%.
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Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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