MAI Capital Management Sells 8,201 Shares of Oracle Co. (NYSE:ORCL)

MAI Capital Management decreased its holdings in Oracle Co. (NYSE:ORCL) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 257,109 shares of the enterprise software provider’s stock after selling 8,201 shares during the period. MAI Capital Management’s holdings in Oracle were worth $43,811,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ORCL. Capital World Investors boosted its holdings in shares of Oracle by 0.4% during the 1st quarter. Capital World Investors now owns 18,466,713 shares of the enterprise software provider’s stock valued at $2,319,604,000 after acquiring an additional 82,551 shares during the last quarter. Legal & General Group Plc increased its position in Oracle by 2.3% during the second quarter. Legal & General Group Plc now owns 13,242,340 shares of the enterprise software provider’s stock valued at $1,869,816,000 after acquiring an additional 296,866 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Oracle by 148.8% in the first quarter. Janus Henderson Group PLC now owns 12,872,300 shares of the enterprise software provider’s stock valued at $1,616,855,000 after acquiring an additional 7,699,141 shares during the period. Dimensional Fund Advisors LP boosted its position in Oracle by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,318,962 shares of the enterprise software provider’s stock worth $1,033,430,000 after purchasing an additional 424,500 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Oracle by 0.9% in the second quarter. Ameriprise Financial Inc. now owns 7,182,917 shares of the enterprise software provider’s stock worth $1,015,862,000 after purchasing an additional 66,444 shares during the last quarter. 42.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ORCL. Bank of America increased their price objective on shares of Oracle from $155.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Sanford C. Bernstein lifted their price target on shares of Oracle from $201.00 to $202.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. StockNews.com raised Oracle from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. UBS Group reissued a “market outperform” rating on shares of Oracle in a report on Friday, October 18th. Finally, Piper Sandler raised their price objective on Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $169.52.

Insider Buying and Selling

In other Oracle news, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 42,889 shares in the company, valued at $7,076,685. This represents a 12.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 42.20% of the stock is currently owned by corporate insiders.

Oracle Stock Down 1.8 %

Shares of NYSE ORCL opened at $183.74 on Monday. The stock has a market capitalization of $509.15 billion, a price-to-earnings ratio of 47.36, a P/E/G ratio of 3.39 and a beta of 1.02. Oracle Co. has a 12-month low of $99.26 and a 12-month high of $191.77. 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’s 50-day moving average price is $172.14 and its 200-day moving average price is $147.06.

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

Oracle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were issued 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 0.87%. 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.