Wealth Effects LLC Sells 350 Shares of Oracle Co. (NYSE:ORCL)

Wealth Effects LLC lowered its holdings in Oracle Co. (NYSE:ORCL) by 5.1% during the third quarter, HoldingsChannel.com reports. The fund owned 6,575 shares of the enterprise software provider’s stock after selling 350 shares during the period. Wealth Effects LLC’s holdings in Oracle were worth $1,120,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Eagle Rock Investment Company LLC raised its holdings 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 grew its position in Oracle by 1.7% in the third quarter. Versant Capital Management Inc now owns 3,957 shares of the enterprise software provider’s stock valued at $674,000 after acquiring an additional 65 shares during the last quarter. Trust Point Inc. raised its stake in Oracle by 0.5% during the third quarter. Trust Point Inc. now owns 13,606 shares of the enterprise software provider’s stock worth $2,318,000 after acquiring an additional 66 shares in the last quarter. First International Bank & Trust lifted its holdings in shares of Oracle by 1.8% in the third quarter. First International Bank & Trust now owns 3,734 shares of the enterprise software provider’s stock worth $636,000 after acquiring an additional 67 shares during the last quarter. Finally, Adirondack Trust Co. lifted its holdings in shares of Oracle by 0.8% in the third quarter. Adirondack Trust Co. now owns 8,636 shares of the enterprise software provider’s stock worth $1,472,000 after acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds own 42.44% of the company’s stock.

Insider Activity at Oracle

In other Oracle news, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the sale, the executive vice president now owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 42.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ORCL has been the topic of several research reports. Jefferies Financial Group lifted their price target on shares of Oracle from $170.00 to $190.00 and gave the company a “buy” rating in a report on Monday, September 16th. JPMorgan Chase & Co. boosted their target price on shares of Oracle from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Citigroup increased their price target on Oracle from $140.00 to $157.00 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Evercore ISI raised their price objective on Oracle from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Finally, KeyCorp upped their target price on Oracle from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Ten investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $168.67.

Oracle Trading Down 0.5 %

ORCL stock traded down $0.94 during mid-day trading on Monday, reaching $173.75. The company’s stock had a trading volume of 1,212,164 shares, compared to its average volume of 8,424,734. Oracle Co. has a 12 month low of $99.26 and a 12 month high of $178.61. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. The business’s 50 day moving average price is $156.29 and its 200 day moving average price is $138.67. The company has a market cap of $481.47 billion, a price-to-earnings ratio of 44.94, a price-to-earnings-growth ratio of 3.25 and a beta of 1.01.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.06. The company had revenue of $13.31 billion during the quarter, compared to analyst estimates of $13.23 billion. Oracle had a net margin of 20.40% and a return on equity of 171.38%. Oracle’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.95 EPS. On average, equities research analysts predict that Oracle Co. will post 5 EPS for the current year.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. Oracle’s dividend payout ratio (DPR) is presently 41.24%.

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.