Huntington National Bank Has $93 Million Position in Oracle Co. (NYSE:ORCL)

Huntington National Bank boosted its stake in Oracle Co. (NYSE:ORCL) by 11.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 558,070 shares of the enterprise software provider’s stock after purchasing an additional 58,493 shares during the period. Huntington National Bank’s holdings in Oracle were worth $92,997,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. R Squared Ltd bought a new position in Oracle during the 4th quarter worth approximately $25,000. Winch Advisory Services LLC increased its position in shares of Oracle by 89.7% during the fourth quarter. Winch Advisory Services LLC now owns 184 shares of the enterprise software provider’s stock worth $31,000 after buying an additional 87 shares during the period. Synergy Investment Management LLC bought a new position in Oracle during the fourth quarter worth $34,000. TFC Financial Management Inc. lifted its holdings in Oracle by 129.0% in the fourth quarter. TFC Financial Management Inc. now owns 213 shares of the enterprise software provider’s stock valued at $35,000 after buying an additional 120 shares during the period. Finally, Synergy Asset Management LLC bought a new stake in Oracle during the fourth quarter valued at $47,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Insider Buying and Selling

In related news, CEO Safra Catz sold 345,174 shares of Oracle stock in a transaction on Friday, January 24th. The shares were sold at an average price of $185.56, for a total value of $64,050,487.44. Following the transaction, the chief executive officer now owns 1,118,592 shares in the company, valued at $207,565,931.52. This trade represents a 23.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 42.20% of the stock is owned by company insiders.

Oracle Stock Up 1.6 %

Oracle stock opened at $142.05 on Wednesday. The firm has a market capitalization of $397.32 billion, a price-to-earnings ratio of 34.73, a P/E/G ratio of 3.46 and a beta of 1.07. The firm has a 50 day simple moving average of $162.91 and a 200 day simple moving average of $170.02. Oracle Co. has a 1-year low of $112.78 and a 1-year 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.

Oracle (NYSE:ORCL) last released its quarterly earnings data 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 company had revenue of $14.13 billion for the quarter, compared to the consensus estimate of $14.40 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.41 earnings per share. On average, analysts predict that Oracle Co. will post 5 earnings per share for the current year.

Oracle Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 10th will be given a dividend of $0.50 per share. This is a positive change from Oracle’s previous quarterly dividend of $0.40. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, April 10th. Oracle’s payout ratio is 46.95%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ORCL shares. Morgan Stanley dropped their price objective on Oracle from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 11th. BMO Capital Markets reduced their price objective on shares of Oracle from $205.00 to $175.00 and set a “market perform” rating for the company in a research report on Tuesday, March 11th. KeyCorp reiterated an “overweight” rating and set a $200.00 target price on shares of Oracle in a research report on Tuesday, March 11th. Royal Bank of Canada set a $145.00 price target on shares of Oracle and gave the stock a “sector perform” rating in a report on Tuesday, March 11th. Finally, DA Davidson reiterated a “neutral” rating and set a $150.00 price objective on shares of Oracle in a report on Tuesday, March 11th. Thirteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $178.65.

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.