Oracle Co. (NYSE:ORCL) Position Reduced by Portside Wealth Group LLC

Portside Wealth Group LLC reduced its position in shares of Oracle Co. (NYSE:ORCL) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,834 shares of the enterprise software provider’s stock after selling 471 shares during the quarter. Oracle comprises 1.5% of Portside Wealth Group LLC’s portfolio, making the stock its 13th largest holding. Portside Wealth Group LLC’s holdings in Oracle were worth $8,832,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ORCL. Winch Advisory Services LLC lifted its stake in Oracle by 89.7% during the fourth quarter. Winch Advisory Services LLC now owns 184 shares of the enterprise software provider’s stock valued at $31,000 after purchasing an additional 87 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of Oracle in the third quarter valued at $44,000. Avondale Wealth Management acquired a new stake in shares of Oracle during the 3rd quarter valued at $51,000. Friedenthal Financial bought a new stake in shares of Oracle during the 3rd quarter worth $51,000. Finally, Activest Wealth Management grew its holdings in shares of Oracle by 21.9% in the 3rd quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider’s stock worth $53,000 after acquiring an additional 56 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Piper Sandler upped their target price on Oracle from $185.00 to $210.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Jefferies Financial Group raised their price objective on shares of Oracle from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. BNP Paribas raised shares of Oracle to a “strong-buy” rating in a research note on Tuesday, December 10th. KeyCorp lifted their price target on Oracle from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, BMO Capital Markets increased their price objective on Oracle from $173.00 to $205.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $182.73.

Oracle Stock Performance

Shares of NYSE:ORCL opened at $161.05 on Friday. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.81. The business’s fifty day moving average price is $175.44 and its two-hundred day moving average price is $161.34. Oracle Co. has a fifty-two week low of $106.51 and a fifty-two week high of $198.31. The stock has a market capitalization of $450.44 billion, a price-to-earnings ratio of 39.38, a price-to-earnings-growth ratio of 3.03 and a beta of 1.06.

Oracle (NYSE:ORCL) last posted 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). The firm had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $14.12 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.34 EPS. As a group, analysts predict that Oracle Co. will post 5.01 EPS for the current fiscal year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, January 23rd were issued 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 yield of 0.99%. Oracle’s dividend payout ratio is 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.