Worth Asset Management LLC Purchases Shares of 14,043 Oracle Co. (NYSE:ORCL)

Worth Asset Management LLC acquired a new stake in Oracle Co. (NYSE:ORCL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,043 shares of the enterprise software provider’s stock, valued at approximately $2,340,000. Oracle makes up about 1.3% of Worth Asset Management LLC’s portfolio, making the stock its 19th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in 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 in the last quarter. Itau Unibanco Holding S.A. grew its position in shares of Oracle by 15.3% during the second quarter. Itau Unibanco Holding S.A. now owns 24,800 shares of the enterprise software provider’s stock worth $3,502,000 after buying an additional 3,300 shares in the last quarter. Chase Investment Counsel Corp purchased a new stake in shares of Oracle during the third quarter worth approximately $4,160,000. Oppenheimer Asset Management Inc. raised its holdings in Oracle by 79.6% in 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 in the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in Oracle by 84.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 863,883 shares of the enterprise software provider’s stock worth $147,206,000 after acquiring an additional 395,613 shares in the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Price Performance

Shares of ORCL stock traded up $0.88 during mid-day trading on Wednesday, reaching $162.91. The stock had a trading volume of 2,854,744 shares, compared to its average volume of 5,656,903. The company has a market cap of $455.65 billion, a P/E ratio of 39.83, a price-to-earnings-growth ratio of 3.39 and a beta of 1.06. Oracle Co. has a 12-month low of $102.72 and a 12-month high of $198.31. The business has a 50-day simple moving average of $178.25 and a 200 day simple moving average of $160.59. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 5.65.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.01). The company had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $14.12 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.34 earnings per share. On average, sell-side analysts anticipate that Oracle Co. will post 5.03 earnings per share for the current year.

Oracle Announces Dividend

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

Analysts Set New Price Targets

ORCL has been the subject of several recent analyst reports. Barclays lifted their price objective on shares of Oracle from $160.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Melius Research raised Oracle from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. BMO Capital Markets boosted their target price on Oracle from $173.00 to $205.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 10th. Melius upgraded shares of Oracle from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research note on Monday, September 16th. Finally, Evercore ISI boosted their price objective on shares of Oracle from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Oracle has an average rating of “Moderate Buy” and an average target price of $181.48.

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.