Principle Wealth Partners LLC Trims Position in Oracle Co. (NYSE:ORCL)

Principle Wealth Partners LLC trimmed its holdings in Oracle Co. (NYSE:ORCL) by 0.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 67,752 shares of the enterprise software provider’s stock after selling 135 shares during the quarter. Principle Wealth Partners LLC’s holdings in Oracle were worth $7,143,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Orion Capital Management LLC purchased a new position in Oracle during the third quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE raised its holdings in Oracle by 298.4% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 243 shares of the enterprise software provider’s stock worth $26,000 after purchasing an additional 182 shares in the last quarter. Spartan Planning & Wealth Management purchased a new position in Oracle during the third quarter worth about $27,000. Cornerstone Planning Group LLC raised its holdings in Oracle by 1,268.0% during the third quarter. Cornerstone Planning Group LLC now owns 342 shares of the enterprise software provider’s stock worth $36,000 after purchasing an additional 317 shares in the last quarter. Finally, BOK Financial Private Wealth Inc. raised its holdings in Oracle by 139.4% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 371 shares of the enterprise software provider’s stock worth $39,000 after purchasing an additional 216 shares in the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Oracle Stock Up 2.0 %

Shares of NYSE:ORCL traded up $2.32 during midday trading on Friday, hitting $117.21. 8,355,111 shares of the company’s stock traded hands, compared to its average volume of 5,810,524. The company has a debt-to-equity ratio of 13.34, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $322.15 billion, a PE ratio of 30.93, a P/E/G ratio of 2.35 and a beta of 1.01. The firm’s fifty day moving average price is $119.42 and its two-hundred day moving average price is $113.13. Oracle Co. has a twelve month low of $93.29 and a twelve month high of $132.77.

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

Oracle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Tuesday, April 9th. Oracle’s payout ratio is currently 42.22%.

Insider Transactions at Oracle

In other news, CEO Safra Catz sold 790,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were 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 approximately $141,546,631.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 42.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ORCL shares. StockNews.com raised shares of Oracle from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Argus upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. Piper Sandler lowered their target price on shares of Oracle from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 2nd. The Goldman Sachs Group upped their target price on shares of Oracle from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Finally, BMO Capital Markets increased their price target on shares of Oracle from $126.00 to $142.00 and gave the company a “market perform” rating in a research report on Tuesday, March 12th. Ten equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Oracle has an average rating of “Moderate Buy” and an average price target of $130.76.

Oracle 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.