Wedge Capital Management L L P NC cut its position in shares of Oracle Co. (NYSE:ORCL – Get Rating) by 0.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 679,751 shares of the enterprise software provider’s stock after selling 4,990 shares during the quarter. Oracle accounts for 0.8% of Wedge Capital Management L L P NC’s portfolio, making the stock its 16th largest position. Wedge Capital Management L L P NC’s holdings in Oracle were worth $56,236,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the company. Forte Capital LLC ADV increased its position in shares of Oracle by 1.9% in the 4th quarter. Forte Capital LLC ADV now owns 6,526 shares of the enterprise software provider’s stock valued at $569,000 after buying an additional 122 shares in the last quarter. PFG Advisors increased its position in shares of Oracle by 3.3% in the 4th quarter. PFG Advisors now owns 3,900 shares of the enterprise software provider’s stock valued at $340,000 after buying an additional 123 shares in the last quarter. Keel Point LLC increased its position in shares of Oracle by 4.9% in the 4th quarter. Keel Point LLC now owns 2,717 shares of the enterprise software provider’s stock valued at $237,000 after buying an additional 126 shares in the last quarter. Regal Investment Advisors LLC increased its position in shares of Oracle by 1.4% in the 4th quarter. Regal Investment Advisors LLC now owns 8,964 shares of the enterprise software provider’s stock valued at $782,000 after buying an additional 126 shares in the last quarter. Finally, Rational Advisors LLC increased its position in shares of Oracle by 1.1% in the 4th quarter. Rational Advisors LLC now owns 11,083 shares of the enterprise software provider’s stock valued at $967,000 after buying an additional 126 shares in the last quarter. Institutional investors own 42.33% of the company’s stock.
In other news, Director Renee Jo James sold 6,000 shares of Oracle stock in a transaction on Monday, April 4th. The shares were sold at an average price of $84.11, for a total transaction of $504,660.00. Following the transaction, the director now owns 41,886 shares in the company, valued at $3,523,031.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 43.40% of the stock is currently owned by insiders.
Oracle stock traded down $0.69 during mid-day trading on Wednesday, reaching $66.99. The company had a trading volume of 110,797 shares, compared to its average volume of 9,126,890. Oracle Co. has a fifty-two week low of $63.76 and a fifty-two week high of $106.34. The company has a market cap of $178.74 billion, a P/E ratio of 28.20, a P/E/G ratio of 1.91 and a beta of 0.87. The business has a fifty day simple moving average of $72.46 and a 200 day simple moving average of $79.71.
Oracle (NYSE:ORCL – Get Rating) last issued its earnings results on Monday, June 13th. The enterprise software provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.17. Oracle had a net margin of 15.83% and a negative return on equity of 193.58%. The firm had revenue of $11.84 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same quarter last year, the business posted $1.40 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Sell-side analysts predict that Oracle Co. will post 4.43 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 26th. Stockholders of record on Tuesday, July 12th will be issued a dividend of $0.32 per share. The ex-dividend date is Monday, July 11th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.91%. Oracle’s dividend payout ratio (DPR) is presently 53.33%.
ORCL has been the subject of a number of recent analyst reports. Monness Crespi & Hardt lowered their price objective on shares of Oracle from $126.00 to $113.00 and set a “buy” rating for the company in a research report on Tuesday, June 14th. BMO Capital Markets reduced their target price on shares of Oracle from $92.00 to $86.00 in a research note on Tuesday, June 14th. Citigroup set a $81.00 target price on shares of Oracle in a research note on Monday. JPMorgan Chase & Co. set a $82.00 target price on shares of Oracle in a research note on Thursday, June 16th. Finally, Bank of America reduced their target price on shares of Oracle from $105.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, March 11th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.13.
Oracle Company Profile (Get Rating)
Oracle Corporation provides 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 Fusion cloud advertising and customer experience, and NetSuite applications suite.
Further Reading
Want to see what other hedge funds are holding ORCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oracle Co. (NYSE:ORCL – Get Rating).
Receive News & Ratings for Oracle Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Oracle and related companies with MarketBeat.com’s FREE daily email newsletter.
