Red Tortoise LLC Reduces Stake in Oracle Co. (NYSE:ORCL)

Red Tortoise LLC lowered its position in Oracle Co. (NYSE:ORCL) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,153 shares of the enterprise software provider’s stock after selling 140 shares during the period. Red Tortoise LLC’s holdings in Oracle were worth $438,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of ORCL. Norges Bank purchased a new stake in Oracle in the 4th quarter worth approximately $1,409,896,000. Moneta Group Investment Advisors LLC raised its stake in shares of Oracle by 112,785.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,832,530 shares of the enterprise software provider’s stock worth $885,451,000 after buying an additional 10,822,934 shares during the period. Wellington Management Group LLP raised its stake in shares of Oracle by 9,299.3% during the 3rd quarter. Wellington Management Group LLP now owns 8,170,999 shares of the enterprise software provider’s stock worth $865,472,000 after buying an additional 8,084,067 shares during the period. Vanguard Group Inc. raised its stake in shares of Oracle by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 147,273,413 shares of the enterprise software provider’s stock worth $15,599,200,000 after buying an additional 7,883,515 shares during the period. Finally, Morgan Stanley raised its stake in shares of Oracle by 9.6% during the 4th quarter. Morgan Stanley now owns 20,502,544 shares of the enterprise software provider’s stock worth $1,675,878,000 after buying an additional 1,794,080 shares during the period. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Insider Buying and Selling at Oracle

In other Oracle news, CEO Safra Catz sold 790,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $126.54, for a total value of $99,966,600.00. Following the completion of the sale, the chief executive officer now owns 1,118,592 shares of the company’s stock, valued at $141,546,631.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 42.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ORCL. KeyCorp began coverage on Oracle in a research note on Thursday, March 21st. They issued an “overweight” rating and a $150.00 price objective for the company. HSBC increased their price objective on Oracle from $144.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. BMO Capital Markets increased their price objective on Oracle from $126.00 to $142.00 and gave the company a “market perform” rating in a research note on Tuesday, March 12th. Argus raised Oracle from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Finally, Piper Sandler reduced their price objective on Oracle from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, January 2nd. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $130.76.

Oracle Stock Performance

Shares of ORCL traded down $1.95 during mid-day trading on Wednesday, hitting $118.67. The stock had a trading volume of 5,348,468 shares, compared to its average volume of 8,624,893. The company has a market cap of $326.16 billion, a PE ratio of 31.83, a PEG ratio of 2.32 and a beta of 1.01. The company’s fifty day simple moving average is $119.25 and its two-hundred day simple moving average is $112.73. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 13.34. Oracle Co. has a fifty-two week low of $93.29 and a fifty-two week high of $132.77.

Oracle (NYSE:ORCL) last announced its earnings results on Monday, March 11th. The enterprise software provider reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.04. Oracle had a return on equity of 336.11% and a net margin of 20.27%. The firm had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter in the previous year, the business earned $0.96 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities analysts expect that Oracle Co. will post 4.44 earnings per share for the current year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a yield of 1.35%. Oracle’s dividend payout ratio (DPR) is currently 42.22%.

Oracle Company Profile

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.