Valley Wealth Managers Inc. Cuts Holdings in Oracle Co. (NYSE:ORCL)

Valley Wealth Managers Inc. cut its position in shares of Oracle Co. (NYSE:ORCL) by 9.4% during the 3rd quarter, Holdings Channel reports. The firm owned 166,407 shares of the enterprise software provider’s stock after selling 17,340 shares during the quarter. Oracle makes up approximately 2.1% of Valley Wealth Managers Inc.’s holdings, making the stock its 5th largest holding. Valley Wealth Managers Inc.’s holdings in Oracle were worth $28,356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fairway Wealth LLC bought a new position in shares of Oracle in the second quarter worth approximately $27,000. POM Investment Strategies LLC purchased a new position in Oracle during the second quarter worth $30,000. Bbjs Financial Advisors LLC purchased a new stake in Oracle in the second quarter worth $35,000. Reston Wealth Management LLC purchased a new stake in Oracle in the third quarter worth about $44,000. Finally, Quest Partners LLC bought a new position in shares of Oracle during the 2nd quarter worth approximately $40,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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 completion of the sale, the executive vice president now owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. The trade was a 12.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 42.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ORCL shares. Mizuho upped their price objective on shares of Oracle from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Piper Sandler boosted their target price on Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. JMP Securities lifted their price target on Oracle from $175.00 to $205.00 and gave the stock a “market outperform” rating in a report on Friday, October 18th. TD Cowen upped their target price on Oracle from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Jefferies Financial Group lifted their price objective on shares of Oracle from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $169.52.

Oracle Trading Down 1.0 %

ORCL stock traded down $1.83 during trading on Friday, reaching $185.22. 677,448 shares of the stock traded hands, compared to its average volume of 8,218,690. Oracle Co. has a 52-week low of $99.26 and a 52-week high of $191.77. The business’s 50 day moving average price is $171.30 and its 200-day moving average price is $146.14. The firm has a market capitalization of $513.26 billion, a PE ratio of 47.74, a P/E/G ratio of 3.49 and a beta of 1.02. 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 (NYSE:ORCL) last released its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.33 by $0.06. The business had revenue of $13.31 billion for the quarter, compared to analysts’ expectations of $13.23 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 earnings per share. As a group, sell-side analysts forecast that Oracle Co. will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The business also recently announced 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 yield of 0.86%. Oracle’s payout ratio is 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.