Naviter Wealth LLC Trims Stock Position in Oracle Co. (NYSE:ORCL)

by · The Cerbat Gem

Naviter Wealth LLC trimmed its stake in shares of Oracle Co. (NYSE:ORCL – Free Report) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,201 shares of the enterprise software provider’s stock after selling 116 shares during the quarter. Naviter Wealth LLC’s holdings in Oracle were worth $1,227,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Janus Henderson Group PLC boosted its stake in shares of Oracle by 148.8% in the first quarter. Janus Henderson Group PLC now owns 12,872,300 shares of the enterprise software provider’s stock valued at $1,616,855,000 after buying an additional 7,699,141 shares in the last quarter. PineStone Asset Management Inc. lifted its holdings in Oracle by 131.2% in the second quarter. PineStone Asset Management Inc. now owns 3,911,201 shares of the enterprise software provider’s stock valued at $552,262,000 after acquiring an additional 2,219,450 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Oracle by 97.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,242,647 shares of the enterprise software provider’s stock worth $532,920,000 after purchasing an additional 2,093,893 shares during the period. Altshuler Shaham Ltd grew its stake in shares of Oracle by 5,853.1% during the 2nd quarter. Altshuler Shaham Ltd now owns 1,552,580 shares of the enterprise software provider’s stock worth $219,224,000 after purchasing an additional 1,526,500 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Oracle by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 151,213,890 shares of the enterprise software provider’s stock valued at $18,993,977,000 after purchasing an additional 1,514,569 shares in the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Price Performance

ORCL opened at $175.63 on Friday. Oracle Co. has a 1 year low of $99.26 and a 1 year high of $178.61. The company’s 50 day simple moving average is $155.43 and its 200 day simple moving average is $138.15. The stock has a market capitalization of $484.01 billion, a PE ratio of 47.34, a P/E/G ratio of 3.29 and a beta of 1.01. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72.

Oracle (NYSE:ORCL – Get Free Report) last announced its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.06. The company had revenue of $13.31 billion during the quarter, compared to analysts’ expectations of $13.23 billion. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 EPS. As a group, sell-side analysts expect that Oracle Co. will post 5 EPS for the current year.

Oracle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.91%. Oracle’s dividend payout ratio (DPR) is 43.13%.

Insider Activity

In related news, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $165.00, for a total value of $1,042,800.00. Following the transaction, the executive vice president now owns 42,889 shares in the company, valued at approximately $7,076,685. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 42.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on ORCL. Jefferies Financial Group upped their target price on shares of Oracle from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. raised their price objective on Oracle from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. DA Davidson boosted their target price on Oracle from $105.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. StockNews.com raised Oracle from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Finally, Piper Sandler boosted their price objective on shares of Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Ten research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $167.42.

View Our Latest Stock Analysis on ORCL

Oracle Company Profile

(Free Report)

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.

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