Norden Group LLC Cuts Position in Oracle Co. (NYSE:ORCL)

Norden Group LLC reduced its stake in Oracle Co. (NYSE:ORCL) by 10.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 8,371 shares of the enterprise software provider’s stock after selling 1,013 shares during the period. Norden Group LLC’s holdings in Oracle were worth $883,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ORCL. Vanguard Group Inc. grew its position in shares of Oracle by 5.7% during the third quarter. Vanguard Group Inc. now owns 147,273,413 shares of the enterprise software provider’s stock worth $15,599,200,000 after acquiring an additional 7,883,515 shares during the last quarter. Northern Trust Corp grew its position in shares of Oracle by 3.5% during the third quarter. Northern Trust Corp now owns 18,718,180 shares of the enterprise software provider’s stock worth $1,982,630,000 after acquiring an additional 635,994 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Oracle by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,704,523 shares of the enterprise software provider’s stock worth $1,211,307,000 after purchasing an additional 61,604 shares during the period. Invesco Ltd. lifted its holdings in shares of Oracle by 1.1% during the third quarter. Invesco Ltd. now owns 8,471,884 shares of the enterprise software provider’s stock worth $897,342,000 after purchasing an additional 89,876 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Oracle by 9,299.3% during the third quarter. Wellington Management Group LLP now owns 8,170,999 shares of the enterprise software provider’s stock worth $865,472,000 after purchasing an additional 8,084,067 shares during the period. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Stock Down 2.0 %

NYSE ORCL traded down $2.32 during trading on Tuesday, reaching $114.17. 2,849,272 shares of the company’s stock were exchanged, compared to its average volume of 8,368,718. Oracle Co. has a fifty-two week low of $93.85 and a fifty-two week high of $132.77. The firm has a market capitalization of $313.80 billion, a PE ratio of 30.74, a P/E/G ratio of 2.35 and a beta of 1.01. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 13.34. The company’s fifty day simple moving average is $119.52 and its 200-day simple moving average is $113.21.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Monday, March 11th. The enterprise software provider reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.04. Oracle had a return on equity of 336.11% and a net margin of 20.27%. The business had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $13.29 billion. During the same period last year, the business earned $0.96 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. Sell-side analysts predict that Oracle Co. will post 4.44 EPS for the current year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Tuesday, April 9th. Oracle’s dividend payout ratio is currently 42.22%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Piper Sandler decreased their price target on Oracle from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, January 2nd. BMO Capital Markets raised their price target on Oracle from $126.00 to $142.00 and gave the company a “market perform” rating in a research report on Tuesday, March 12th. The Goldman Sachs Group raised their price target on Oracle from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. KeyCorp assumed coverage on Oracle in a research report on Thursday, March 21st. They issued an “overweight” rating and a $150.00 price target for the company. Finally, William Blair upgraded Oracle from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 12th. Ten equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Oracle has an average rating of “Moderate Buy” and a consensus price target of $130.76.

Insiders Place Their Bets

In other news, CEO Safra Catz sold 790,000 shares of Oracle stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $126.54, for a total transaction of $99,966,600.00. Following the sale, the chief executive officer now owns 1,118,592 shares of the company’s stock, valued at approximately $141,546,631.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 42.80% of the company’s stock.

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.