Oracle Co. (NYSE:ORCL) Position Cut by Centric Wealth Management

Centric Wealth Management lessened its holdings in shares of Oracle Co. (NYSE:ORCL) by 0.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 17,676 shares of the enterprise software provider’s stock after selling 139 shares during the quarter. Centric Wealth Management’s holdings in Oracle were worth $3,204,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Infrastructure Capital Advisors LLC bought a new position in Oracle during the 3rd quarter valued at $1,846,000. Hantz Financial Services Inc. grew its holdings in Oracle by 178.2% during the third quarter. Hantz Financial Services Inc. now owns 230,687 shares of the enterprise software provider’s stock worth $39,309,000 after acquiring an additional 147,767 shares during the period. Northwest & Ethical Investments L.P. boosted its position in shares of Oracle by 9.9% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 191,938 shares of the enterprise software provider’s stock valued at $32,706,000 after purchasing an additional 17,297 shares in the last quarter. Teachers Insurance & Annuity Association of America acquired a new stake in Oracle during the third quarter valued at approximately $65,000. Finally, Pin Oak Investment Advisors Inc. boosted its holdings in Oracle by 41.3% during the third quarter. Pin Oak Investment Advisors Inc. now owns 1,683 shares of the enterprise software provider’s stock worth $286,000 after buying an additional 492 shares in the last quarter. 42.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ORCL. UBS Group reaffirmed a “market outperform” rating on shares of Oracle in a research note on Friday, October 18th. JPMorgan Chase & Co. boosted their target price on shares of Oracle from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. TD Cowen lifted their price target on Oracle from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Royal Bank of Canada initiated coverage on shares of Oracle in a research report on Wednesday, October 23rd. They set a “sector perform” rating and a $165.00 price objective on the stock. Finally, Bank of America boosted their target price on shares of Oracle from $155.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, Oracle has an average rating of “Moderate Buy” and a consensus target price of $169.52.

Oracle Stock Performance

Shares of Oracle stock opened at $182.70 on Friday. The firm has a market cap of $506.27 billion, a P/E ratio of 47.09, a P/E/G ratio of 3.37 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. The firm has a 50 day simple moving average of $177.10 and a 200 day simple moving average of $151.11. Oracle Co. has a fifty-two week low of $99.26 and a fifty-two week high of $196.04.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, beating 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 company had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts predict that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Thursday, October 10th. Oracle’s payout ratio is currently 41.24%.

Insider Transactions at Oracle

In other 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 completion of the transaction, the executive vice president now directly owns 42,889 shares of the company’s stock, valued at $7,076,685. This trade represents a 12.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 42.20% of the stock is owned by insiders.

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.