Oracle Co. (NYSE:ORCL) Shares Sold by ProVise Management Group LLC

ProVise Management Group LLC cut its stake in Oracle Co. (NYSE:ORCL) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 117,821 shares of the enterprise software provider’s stock after selling 7,441 shares during the quarter. Oracle makes up approximately 1.7% of ProVise Management Group LLC’s investment portfolio, making the stock its 15th largest position. ProVise Management Group LLC’s holdings in Oracle were worth $19,634,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ORCL. Activest Wealth Management lifted its holdings in shares of Oracle by 21.9% in the 3rd quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider’s stock valued at $53,000 after buying an additional 56 shares during the period. Second Line Capital LLC raised its holdings in Oracle by 1.5% during the third quarter. Second Line Capital LLC now owns 3,816 shares of the enterprise software provider’s stock worth $650,000 after purchasing an additional 58 shares during the last quarter. Cadence Bank raised its holdings in Oracle by 0.8% during the third quarter. Cadence Bank now owns 7,605 shares of the enterprise software provider’s stock worth $1,296,000 after purchasing an additional 59 shares during the last quarter. Requisite Capital Management LLC raised its holdings in Oracle by 2.8% during the fourth quarter. Requisite Capital Management LLC now owns 2,240 shares of the enterprise software provider’s stock worth $373,000 after purchasing an additional 60 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. raised its holdings in Oracle by 4.4% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,423 shares of the enterprise software provider’s stock worth $237,000 after purchasing an additional 60 shares during the last quarter. 42.44% of the stock is owned by institutional investors and hedge funds.

Oracle Price Performance

ORCL stock opened at $149.48 on Wednesday. The stock has a 50-day moving average price of $165.32 and a two-hundred day moving average price of $170.01. Oracle Co. has a 12-month low of $112.78 and a 12-month high of $198.31. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.65. The company has a market cap of $418.10 billion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 3.46 and a beta of 1.07.

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

Oracle Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Thursday, April 10th. This is a boost from Oracle’s previous quarterly dividend of $0.40. Oracle’s payout ratio is currently 46.95%.

Insiders Place Their Bets

In other Oracle news, CEO Safra Catz sold 2,101,154 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $185.35, for a total transaction of $389,448,893.90. Following the transaction, the chief executive officer now owns 1,118,592 shares in the company, valued at $207,331,027.20. The trade was a 65.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 42.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Evercore ISI reduced their price objective on Oracle from $200.00 to $185.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th. Citigroup reduced their price objective on Oracle from $194.00 to $160.00 and set a “neutral” rating for the company in a report on Wednesday, March 12th. Bank of America dropped their price target on Oracle from $195.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Piper Sandler dropped their price target on Oracle from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. Finally, JMP Securities reissued a “market outperform” rating and set a $205.00 price target on shares of Oracle in a research report on Wednesday, January 22nd. Twelve investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Oracle presently has a consensus rating of “Moderate Buy” and an average price target of $179.71.

About Oracle

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.