Oracle Co. (NYSE:ORCL) Stake Reduced by Concord Wealth Partners

Concord Wealth Partners lessened its stake in shares of Oracle Co. (NYSE:ORCL) by 12.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,108 shares of the enterprise software provider’s stock after selling 436 shares during the quarter. Concord Wealth Partners’ holdings in Oracle were worth $328,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Wellington Management Group LLP lifted its position in shares of Oracle by 9,299.3% in the third quarter. Wellington Management Group LLP now owns 8,170,999 shares of the enterprise software provider’s stock worth $865,472,000 after purchasing an additional 8,084,067 shares in the last quarter. Vanguard Group Inc. increased its stake in Oracle by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 147,273,413 shares of the enterprise software provider’s stock valued at $15,599,200,000 after buying an additional 7,883,515 shares during the period. DNB Asset Management AS lifted its position in Oracle by 313.4% in the 4th quarter. DNB Asset Management AS now owns 1,766,621 shares of the enterprise software provider’s stock worth $186,255,000 after buying an additional 1,339,311 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Oracle by 26,602.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,259,550 shares of the enterprise software provider’s stock valued at $132,794,000 after buying an additional 1,254,833 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in shares of Oracle by 35.2% during the 3rd quarter. Mackenzie Financial Corp now owns 3,168,969 shares of the enterprise software provider’s stock valued at $331,221,000 after acquiring an additional 825,030 shares in the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ORCL. William Blair upgraded Oracle from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 12th. HSBC raised their price target on shares of Oracle from $144.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Argus upgraded shares of Oracle from a “hold” rating to a “buy” rating in a report on Thursday, March 14th. Oppenheimer initiated coverage on Oracle in a report on Thursday, April 18th. They set a “market perform” rating on the stock. Finally, The Goldman Sachs Group boosted their price target on Oracle from $115.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Eleven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $130.76.

Insider Buying and Selling at Oracle

In related news, CEO Safra Catz sold 790,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 1,118,592 shares in the company, valued at approximately $141,546,631.68. The sale 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.

Oracle Price Performance

Oracle stock opened at $114.63 on Thursday. The firm has a market capitalization of $315.06 billion, a P/E ratio of 30.24, a PEG ratio of 2.28 and a beta of 1.03. The business has a 50-day moving average of $119.75 and a 200-day moving average of $113.26. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 13.34. Oracle Co. has a 1 year low of $93.85 and a 1 year high of $132.77.

Oracle (NYSE:ORCL) last issued its earnings results on Monday, March 11th. The enterprise software provider reported $1.41 EPS for the quarter, beating the consensus estimate of $1.37 by $0.04. The firm 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 business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 earnings per share. On average, equities analysts anticipate that Oracle Co. will post 4.44 EPS for the current year.

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.60 annualized dividend and a yield of 1.40%. Oracle’s dividend payout ratio is presently 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.