Oracle Co. (ORCL) Position Lifted by Destination Wealth Management

Destination Wealth Management boosted its holdings in shares of Oracle Co. (NYSE:ORCL) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 493,439 shares of the enterprise software provider’s stock after buying an additional 5,755 shares during the period. Oracle makes up about 1.3% of Destination Wealth Management’s holdings, making the stock its 26th biggest position. Destination Wealth Management’s holdings in Oracle were worth $22,279,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Advisors Asset Management Inc. raised its holdings in shares of Oracle by 280.2% during the second quarter. Advisors Asset Management Inc. now owns 20,806 shares of the enterprise software provider’s stock valued at $917,000 after purchasing an additional 15,334 shares during the last quarter. Congress Asset Management Co. MA purchased a new position in shares of Oracle during the third quarter valued at approximately $232,000. CWM LLC raised its holdings in shares of Oracle by 30.4% during the third quarter. CWM LLC now owns 311,465 shares of the enterprise software provider’s stock valued at $16,059,000 after purchasing an additional 72,524 shares during the last quarter. NN Investment Partners Holdings N.V. raised its holdings in shares of Oracle by 7.8% during the third quarter. NN Investment Partners Holdings N.V. now owns 1,563,141 shares of the enterprise software provider’s stock valued at $80,595,000 after purchasing an additional 113,039 shares during the last quarter. Finally, Walter & Keenan Financial Consulting Co. MI ADV purchased a new position in shares of Oracle during the third quarter valued at approximately $217,000. 49.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ORCL stock opened at $52.13 on Friday. Oracle Co. has a 12 month low of $42.40 and a 12 month high of $53.48. The company has a market cap of $217.25 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 1.74 and a beta of 1.09. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.80 and a quick ratio of 2.80.

Oracle (NYSE:ORCL) last announced its earnings results on Monday, December 17th. The enterprise software provider reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.10. Oracle had a net margin of 10.01% and a return on equity of 29.93%. The business had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.52 billion. During the same period in the prior year, the company earned $0.70 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. As a group, research analysts predict that Oracle Co. will post 3.07 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 30th. Stockholders of record on Wednesday, January 16th were paid a $0.19 dividend. The ex-dividend date was Tuesday, January 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.46%. Oracle’s dividend payout ratio (DPR) is presently 26.95%.

ORCL has been the subject of several research reports. Royal Bank of Canada boosted their price objective on shares of Oracle to $55.00 in a report on Tuesday, December 18th. Sanford C. Bernstein reissued a “buy” rating and set a $57.00 price objective on shares of Oracle in a report on Tuesday, December 18th. Standpoint Research raised shares of Oracle from a “hold” rating to a “buy” rating and set a $42.69 price objective for the company in a report on Wednesday, December 26th. Goldman Sachs Group reissued a “buy” rating and set a $55.00 price objective on shares of Oracle in a report on Monday, December 17th. Finally, Nomura set a $53.00 price objective on shares of Oracle and gave the company a “buy” rating in a report on Wednesday, December 12th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $52.62.

In other news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction on Monday, December 17th. The shares were sold at an average price of $46.42, for a total value of $174,075.00. Following the completion of the sale, the director now directly owns 27,969 shares of the company’s stock, valued at $1,298,320.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dorian Daley sold 25,000 shares of the stock in a transaction on Thursday, December 27th. The stock was sold at an average price of $45.00, for a total transaction of $1,125,000.00. Following the completion of the sale, the executive vice president now directly owns 102,919 shares of the company’s stock, valued at $4,631,355. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,552 shares of company stock valued at $1,945,486. Corporate insiders own 32.00% of the company’s stock.

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About Oracle

Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.

Further Reading: The Discount Rate – What You Need to Know

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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