Horizon Bancorp Inc. IN Decreases Stake in Oracle Co. (NYSE:ORCL)

Horizon Bancorp Inc. IN decreased its position in Oracle Co. (NYSE:ORCL) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,004 shares of the enterprise software provider’s stock after selling 75 shares during the quarter. Oracle accounts for 0.4% of Horizon Bancorp Inc. IN’s portfolio, making the stock its 24th biggest holding. Horizon Bancorp Inc. IN’s holdings in Oracle were worth $834,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Fairway Wealth LLC purchased a new stake in Oracle during the second quarter valued at approximately $27,000. Quest Partners LLC bought a new stake in Oracle in the second quarter worth $40,000. Reston Wealth Management LLC purchased a new position in Oracle during the third quarter worth $44,000. Avondale Wealth Management purchased a new stake in shares of Oracle in the third quarter valued at $51,000. Finally, Friedenthal Financial bought a new stake in shares of Oracle in the 3rd quarter worth about $51,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ORCL has been the topic of a number of research analyst reports. Stifel Nicolaus upped their target price on shares of Oracle from $155.00 to $175.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. BNP Paribas raised Oracle to a “strong-buy” rating in a research report on Tuesday, December 10th. KeyCorp boosted their price target on Oracle from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Melius raised Oracle from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research report on Monday, September 16th. Finally, Piper Sandler increased their price target on shares of Oracle from $185.00 to $210.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $181.48.

Oracle Price Performance

NYSE:ORCL opened at $153.73 on Tuesday. The stock has a market capitalization of $429.98 billion, a PE ratio of 37.59, a price-to-earnings-growth ratio of 3.39 and a beta of 1.06. Oracle Co. has a 52 week low of $105.42 and a 52 week high of $198.31. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. The stock’s 50-day moving average price is $177.30 and its 200-day moving average price is $161.13.

Oracle (NYSE:ORCL) last announced its earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.01). Oracle had a return on equity of 133.25% and a net margin of 21.16%. The business had revenue of $14.06 billion for the quarter, compared to analyst estimates of $14.12 billion. During the same period in the previous year, the company earned $1.34 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts expect that Oracle Co. will post 5.03 EPS for the current fiscal year.

Oracle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, January 23rd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.04%. Oracle’s dividend payout ratio is currently 39.12%.

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.