Douglas Lane & Associates LLC Has $94.38 Million Position in Oracle Co. (NYSE:ORCL)

Douglas Lane & Associates LLC cut its position in shares of Oracle Co. (NYSE:ORCL) by 2.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 566,388 shares of the enterprise software provider’s stock after selling 16,900 shares during the quarter. Oracle comprises 1.3% of Douglas Lane & Associates LLC’s holdings, making the stock its 19th biggest position. Douglas Lane & Associates LLC’s holdings in Oracle were worth $94,383,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of Oracle by 5.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,416,362 shares of the enterprise software provider’s stock valued at $411,748,000 after purchasing an additional 121,874 shares during the period. Itau Unibanco Holding S.A. grew its position in Oracle by 15.3% in the second quarter. Itau Unibanco Holding S.A. now owns 24,800 shares of the enterprise software provider’s stock valued at $3,502,000 after acquiring an additional 3,300 shares during the period. Chase Investment Counsel Corp acquired a new position in Oracle during the third quarter worth $4,160,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of Oracle by 79.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 286,460 shares of the enterprise software provider’s stock valued at $48,813,000 after acquiring an additional 126,985 shares during the period. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Oracle by 84.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 863,883 shares of the enterprise software provider’s stock valued at $147,206,000 after purchasing an additional 395,613 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ORCL has been the subject of several analyst reports. Mizuho lifted their price target on shares of Oracle from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Stifel Nicolaus boosted their target price on Oracle from $155.00 to $175.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Jefferies Financial Group raised their price target on Oracle from $190.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Barclays boosted their price objective on Oracle from $160.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Finally, Sanford C. Bernstein raised their target price on Oracle from $201.00 to $202.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $181.48.

Oracle Stock Up 0.6 %

Shares of NYSE:ORCL traded up $1.03 during midday trading on Wednesday, reaching $163.06. 4,252,926 shares of the company were exchanged, compared to its average volume of 5,948,594. The firm has a market cap of $456.07 billion, a PE ratio of 39.87, a P/E/G ratio of 3.39 and a beta of 1.06. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. Oracle Co. has a fifty-two week low of $102.72 and a fifty-two week high of $198.31. The stock has a fifty day simple moving average of $178.25 and a two-hundred day simple moving average of $160.59.

Oracle (NYSE:ORCL) last posted its quarterly earnings data 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 firm had revenue of $14.06 billion for the quarter, compared to analyst estimates of $14.12 billion. During the same period in the prior year, the company earned $1.34 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts forecast that Oracle Co. will post 5.03 earnings per share for the current year.

Oracle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, January 23rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Friday, January 10th. Oracle’s payout ratio is 39.12%.

About Oracle

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.