Cahaba Wealth Management Inc. Reduces Holdings in Oracle Co. (NYSE:ORCL)

Cahaba Wealth Management Inc. lessened its stake in shares of Oracle Co. (NYSE:ORCL) by 11.7% in the second quarter, HoldingsChannel.com reports. The firm owned 2,668 shares of the enterprise software provider’s stock after selling 353 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in Oracle were worth $377,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ORCL. Norges Bank bought a new position in Oracle during the 4th quarter valued at approximately $1,210,181,000. Janus Henderson Group PLC increased its stake in shares of Oracle by 148.8% during the first quarter. Janus Henderson Group PLC now owns 12,872,300 shares of the enterprise software provider’s stock valued at $1,616,855,000 after buying an additional 7,699,141 shares during the period. Boston Partners increased its stake in shares of Oracle by 382.4% during the fourth quarter. Boston Partners now owns 4,563,366 shares of the enterprise software provider’s stock valued at $481,820,000 after buying an additional 3,617,413 shares during the period. Capital World Investors raised its holdings in shares of Oracle by 22.1% during the fourth quarter. Capital World Investors now owns 18,384,162 shares of the enterprise software provider’s stock valued at $1,938,242,000 after acquiring an additional 3,323,334 shares in the last quarter. Finally, PineStone Asset Management Inc. lifted its stake in Oracle by 131.2% in the second quarter. PineStone Asset Management Inc. now owns 3,911,201 shares of the enterprise software provider’s stock worth $552,262,000 after acquiring an additional 2,219,450 shares during the period. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on ORCL shares. Citigroup decreased their price objective on shares of Oracle from $133.00 to $128.00 and set a “neutral” rating for the company in a report on Monday, June 10th. Guggenheim reissued a “buy” rating and issued a $175.00 price target on shares of Oracle in a research note on Tuesday, June 25th. JMP Securities reaffirmed a “market perform” rating on shares of Oracle in a research report on Tuesday, June 11th. Bank of America increased their target price on Oracle from $144.00 to $155.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 12th. Finally, Morgan Stanley restated an “equal weight” rating and set a $125.00 price target on shares of Oracle in a research report on Tuesday, June 25th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $145.83.

Insider Activity at Oracle

In other Oracle news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of Oracle stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $143.69, for a total value of $161,651,250.00. Following the completion of the sale, the chairman now owns 1,145,732,353 shares of the company’s stock, valued at approximately $164,630,281,802.57. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Oracle news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $143.69, for a total value of $161,651,250.00. Following the transaction, the chairman now directly owns 1,145,732,353 shares of the company’s stock, valued at $164,630,281,802.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward Screven sold 235,918 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $144.30, for a total transaction of $34,042,967.40. Following the sale, the insider now directly owns 2,626,764 shares of the company’s stock, valued at approximately $379,042,045.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,862,500 shares of company stock worth $266,776,624 over the last quarter. Company insiders own 42.80% of the company’s stock.

Oracle Stock Performance

ORCL stock opened at $141.78 on Friday. The stock has a market capitalization of $390.73 billion, a PE ratio of 38.22, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01. The stock’s 50 day simple moving average is $138.72 and its 200 day simple moving average is $128.33. Oracle Co. has a 12-month low of $99.26 and a 12-month high of $146.59. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 8.25.

Oracle (NYSE:ORCL) last announced its quarterly earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.02). Oracle had a net margin of 19.76% and a return on equity of 223.01%. The business had revenue of $14.29 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the previous year, the company earned $1.35 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts forecast that Oracle Co. will post 5.02 earnings per share for the current fiscal year.

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, July 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.13%. Oracle’s payout ratio is 43.13%.

Oracle Company 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.