Beta Wealth Group Inc. Cuts Stake in Oracle Co. (NYSE:ORCL)

Beta Wealth Group Inc. cut its holdings in shares of Oracle Co. (NYSE:ORCL) by 4.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,805 shares of the enterprise software provider’s stock after selling 299 shares during the quarter. Beta Wealth Group Inc.’s holdings in Oracle were worth $989,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fairway Wealth LLC bought a new position in shares of Oracle during the second quarter valued at about $27,000. POM Investment Strategies LLC bought a new position in Oracle during the 2nd quarter valued at approximately $30,000. Bbjs Financial Advisors LLC purchased a new stake in Oracle in the 2nd quarter worth approximately $35,000. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of Oracle during the first quarter valued at approximately $38,000. Finally, Quest Partners LLC purchased a new stake in Oracle in the second quarter worth $40,000. 42.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Oracle news, EVP Maria Smith sold 6,320 shares of the company’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 transaction of $1,042,800.00. Following the completion of the sale, the executive vice president now directly owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 42.20% of the company’s stock.

Oracle Trading Up 1.6 %

Oracle stock opened at $189.29 on Friday. Oracle Co. has a one year low of $99.26 and a one year high of $190.16. The business’s fifty day moving average is $167.47 and its 200 day moving average is $144.10. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $524.53 billion, a PE ratio of 48.79, a price-to-earnings-growth ratio of 3.34 and a beta of 1.02.

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

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Thursday, October 10th. Oracle’s dividend payout ratio is 41.24%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ORCL. Piper Sandler boosted their price objective on shares of Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. UBS Group reissued a “market outperform” rating on shares of Oracle in a research note on Friday, October 18th. Melius raised Oracle from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research report on Monday, September 16th. DA Davidson raised their target price on Oracle from $105.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Finally, Melius Research raised Oracle from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. Eleven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Oracle has an average rating of “Moderate Buy” and an average target price of $168.52.

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.