Frank Rimerman Advisors LLC Sells 8,827 Shares of Oracle Co. (NYSE:ORCL)

by · The Cerbat Gem

Frank Rimerman Advisors LLC reduced its holdings in shares of Oracle Co. (NYSE:ORCL – Free Report) by 26.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,168 shares of the enterprise software provider’s stock after selling 8,827 shares during the period. Frank Rimerman Advisors LLC’s holdings in Oracle were worth $4,289,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ORCL. Eagle Rock Investment Company LLC lifted its stake in Oracle by 0.4% during the third quarter. Eagle Rock Investment Company LLC now owns 17,626 shares of the enterprise software provider’s stock worth $3,003,000 after purchasing an additional 64 shares in the last quarter. Versant Capital Management Inc lifted its stake in Oracle by 1.7% during the 3rd quarter. Versant Capital Management Inc now owns 3,957 shares of the enterprise software provider’s stock worth $674,000 after acquiring an additional 65 shares in the last quarter. Trust Point Inc. boosted its holdings in Oracle by 0.5% during the 3rd quarter. Trust Point Inc. now owns 13,606 shares of the enterprise software provider’s stock valued at $2,318,000 after acquiring an additional 66 shares during the period. First International Bank & Trust grew its position in Oracle by 1.8% in the 3rd quarter. First International Bank & Trust now owns 3,734 shares of the enterprise software provider’s stock valued at $636,000 after acquiring an additional 67 shares in the last quarter. Finally, Adirondack Trust Co. increased its stake in Oracle by 0.8% during the third quarter. Adirondack Trust Co. now owns 8,636 shares of the enterprise software provider’s stock worth $1,472,000 after purchasing an additional 67 shares during the period. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Insider Transactions at Oracle

In related news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction 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 directly owns 42,889 shares in the company, valued at $7,076,685. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 42.80% of the company’s stock.

Analysts Set New Price Targets

ORCL has been the subject of several recent research reports. Bank of America raised their price objective on shares of Oracle from $155.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Jefferies Financial Group raised their price target on shares of Oracle from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Guggenheim upped their price objective on Oracle from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. BMO Capital Markets lifted their target price on Oracle from $160.00 to $173.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. Finally, StockNews.com downgraded Oracle from a “buy” rating to a “hold” rating in a report on Friday. Twelve analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.52.

Check Out Our Latest Stock Report on ORCL

Oracle Stock Performance

Shares of Oracle stock opened at $173.52 on Friday. The stock has a market capitalization of $478.20 billion, a price-to-earnings ratio of 46.77, a PEG ratio of 3.23 and a beta of 1.01. The firm’s fifty day simple moving average is $160.15 and its 200-day simple moving average is $140.31. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72. Oracle Co. has a 12 month low of $99.26 and a 12 month high of $178.61.

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

Oracle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, October 10th. Oracle’s payout ratio is currently 43.13%.

Oracle 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.

See Also

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