Inlet Private Wealth LLC Cuts Stake in Oracle Co. (NYSE:ORCL)

Inlet Private Wealth LLC lessened its position in Oracle Co. (NYSE:ORCL) by 0.4% in the 3rd quarter, Holdings Channel reports. The fund owned 26,171 shares of the enterprise software provider’s stock after selling 100 shares during the period. Inlet Private Wealth LLC’s holdings in Oracle were worth $4,460,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Rock Investment Company LLC raised its position in shares of Oracle by 0.4% during the 3rd quarter. Eagle Rock Investment Company LLC now owns 17,626 shares of the enterprise software provider’s stock worth $3,003,000 after buying an additional 64 shares in the last quarter. Versant Capital Management Inc raised its holdings in Oracle by 1.7% during the third quarter. Versant Capital Management Inc now owns 3,957 shares of the enterprise software provider’s stock worth $674,000 after purchasing an additional 65 shares in the last quarter. First International Bank & Trust raised its holdings in Oracle by 1.8% during the third quarter. First International Bank & Trust now owns 3,734 shares of the enterprise software provider’s stock worth $636,000 after purchasing an additional 67 shares in the last quarter. Adirondack Trust Co. boosted its stake in Oracle by 0.8% during the 3rd quarter. Adirondack Trust Co. now owns 8,636 shares of the enterprise software provider’s stock valued at $1,472,000 after purchasing an additional 67 shares in the last quarter. Finally, Werlinich Asset Management LLC boosted its stake in Oracle by 3.1% during the 2nd quarter. Werlinich Asset Management LLC now owns 2,325 shares of the enterprise software provider’s stock valued at $326,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Oracle Stock Up 1.6 %

ORCL stock traded up $2.74 during midday trading on Thursday, reaching $177.51. The company had a trading volume of 2,482,780 shares, compared to its average volume of 8,462,770. The company has a 50 day moving average of $154.50 and a two-hundred day moving average of $137.88. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. Oracle Co. has a 1 year low of $99.26 and a 1 year high of $178.61. The company has a market capitalization of $489.19 billion, a P/E ratio of 47.72, a PEG ratio of 3.29 and a beta of 1.01.

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

Oracle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.90%. Oracle’s dividend payout ratio (DPR) is 43.13%.

Analysts Set New Price Targets

Several analysts have recently weighed in on ORCL shares. Jefferies Financial Group upped their price objective on Oracle from $170.00 to $190.00 and gave the company a “buy” rating in a report on Monday, September 16th. Guggenheim upped their price target on shares of Oracle from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, September 13th. Sanford C. Bernstein lifted their price objective 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. Oppenheimer reissued a “market perform” rating on shares of Oracle in a research note on Tuesday, September 10th. Finally, Melius Research upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, Oracle presently has an average rating of “Moderate Buy” and a consensus target price of $167.42.

Insider Activity

In other news, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the completion of the sale, the executive vice president now owns 42,889 shares in the company, valued at approximately $7,076,685. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 42.80% 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.