Oracle Co. (NYSE:ORCL) Shares Sold by Peak Asset Management LLC

Peak Asset Management LLC cut its position in Oracle Co. (NYSE:ORCL) by 7.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,106 shares of the enterprise software provider’s stock after selling 9,856 shares during the period. Oracle accounts for 3.7% of Peak Asset Management LLC’s holdings, making the stock its 4th largest position. Peak Asset Management LLC’s holdings in Oracle were worth $19,784,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of research firms have commented on ORCL. Piper Sandler lifted their target price on Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Citigroup lifted their target price on Oracle from $140.00 to $157.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Melius raised shares of 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. UBS Group reissued a “market outperform” rating on shares of Oracle in a research report on Friday, October 18th. Finally, Mizuho boosted their price target on shares of Oracle from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $168.52.

Insider Transactions at Oracle

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 transaction of $1,042,800.00. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 42.20% of the company’s stock.

Oracle Price Performance

ORCL stock opened at $189.62 on Thursday. The company has a market cap of $525.45 billion, a price-to-earnings ratio of 48.87, a PEG ratio of 3.49 and a beta of 1.02. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. The firm has a 50 day moving average of $169.43 and a 200-day moving average of $145.54. Oracle Co. has a 12-month low of $99.26 and a 12-month high of $191.77.

Oracle (NYSE:ORCL) last posted its earnings results 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. The firm had revenue of $13.31 billion during the quarter, compared to the consensus estimate of $13.23 billion. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $0.95 EPS. As a group, equities analysts expect that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.84%. Oracle’s dividend payout ratio is currently 41.24%.

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.