Investment Management Corp of Ontario Boosts Stock Position in Oracle Co. (NYSE:ORCL)

Investment Management Corp of Ontario grew its holdings in shares of Oracle Co. (NYSE:ORCL) by 50.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,733 shares of the enterprise software provider’s stock after purchasing an additional 27,789 shares during the quarter. Oracle makes up 0.5% of Investment Management Corp of Ontario’s investment portfolio, making the stock its 29th largest holding. Investment Management Corp of Ontario’s holdings in Oracle were worth $13,787,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. McClarren Financial Advisors Inc. grew its stake in shares of Oracle by 201.7% during the 4th quarter. McClarren Financial Advisors Inc. now owns 1,599 shares of the enterprise software provider’s stock worth $266,000 after acquiring an additional 1,069 shares during the period. Foundations Investment Advisors LLC boosted its position in Oracle by 24.8% during the fourth quarter. Foundations Investment Advisors LLC now owns 164,593 shares of the enterprise software provider’s stock worth $27,428,000 after purchasing an additional 32,718 shares during the period. Crews Bank & Trust purchased a new position in shares of Oracle in the fourth quarter worth about $1,800,000. Boston Trust Walden Corp raised its position in shares of Oracle by 40.8% in the fourth quarter. Boston Trust Walden Corp now owns 564,030 shares of the enterprise software provider’s stock valued at $93,990,000 after purchasing an additional 163,543 shares during the period. Finally, Avanza Fonder AB purchased a new stake in shares of Oracle during the 4th quarter valued at approximately $20,346,000. 42.44% of the stock is currently owned by institutional investors.

Oracle Price Performance

Shares of NYSE:ORCL opened at $150.18 on Friday. The company’s fifty day moving average is $142.12 and its 200 day moving average is $162.95. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. Oracle Co. has a 52 week low of $114.55 and a 52 week high of $198.31. The stock has a market cap of $420.05 billion, a PE ratio of 36.72, a PEG ratio of 3.46 and a beta of 1.27.

Oracle (NYSE:ORCL) last released its earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.02). The company had revenue of $14.13 billion during the quarter, compared to the consensus estimate of $14.40 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. The company’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $1.41 EPS. Research analysts anticipate that Oracle Co. will post 5 earnings per share for the current year.

Oracle Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 10th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $2.00 annualized dividend and a yield of 1.33%. This is a boost from Oracle’s previous quarterly dividend of $0.40. Oracle’s dividend payout ratio is presently 46.95%.

Insiders Place Their Bets

In other news, Director Naomi O. Seligman sold 2,866 shares of Oracle stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $149.53, for a total value of $428,552.98. Following the sale, the director now directly owns 31,764 shares in the company, valued at approximately $4,749,670.92. This trade represents a 8.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leon E. Panetta sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $129.77, for a total value of $648,850.00. Following the transaction, the director now owns 58,090 shares of the company’s stock, valued at approximately $7,538,339.30. This represents a 7.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,366 shares of company stock valued at $4,015,723 in the last quarter. Insiders own 42.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ORCL shares. Morgan Stanley lowered their target price on shares of Oracle from $170.00 to $160.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Bank of America dropped their price objective on Oracle from $195.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Cantor Fitzgerald reduced their target price on Oracle from $214.00 to $175.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. JMP Securities reissued a “market outperform” rating and issued a $205.00 price target on shares of Oracle in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Oracle from $140.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Fourteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.42.

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.