NewEdge Wealth LLC Boosts Stock Holdings in Oracle Co. (NYSE:ORCL)

NewEdge Wealth LLC increased its position in Oracle Co. (NYSE:ORCL) by 291.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 119,859 shares of the enterprise software provider’s stock after acquiring an additional 89,278 shares during the period. NewEdge Wealth LLC’s holdings in Oracle were worth $19,973,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management boosted its position in shares of Oracle by 21.9% during the third quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider’s stock valued at $53,000 after buying an additional 56 shares during the last quarter. Second Line Capital LLC grew its stake in shares of Oracle by 1.5% in the third quarter. Second Line Capital LLC now owns 3,816 shares of the enterprise software provider’s stock worth $650,000 after acquiring an additional 58 shares during the period. Cadence Bank raised its holdings in shares of Oracle by 0.8% during the third quarter. Cadence Bank now owns 7,605 shares of the enterprise software provider’s stock valued at $1,296,000 after purchasing an additional 59 shares during the last quarter. Requisite Capital Management LLC lifted its position in Oracle by 2.8% during the fourth quarter. Requisite Capital Management LLC now owns 2,240 shares of the enterprise software provider’s stock valued at $373,000 after purchasing an additional 60 shares during the period. Finally, McLean Asset Management Corp boosted its holdings in Oracle by 1.1% in the fourth quarter. McLean Asset Management Corp now owns 5,447 shares of the enterprise software provider’s stock worth $908,000 after purchasing an additional 61 shares during the last quarter. 42.44% of the stock is owned by institutional investors.

Oracle Stock Up 2.3 %

ORCL opened at $172.37 on Thursday. The company has a market capitalization of $482.11 billion, a PE ratio of 42.14, a price-to-earnings-growth ratio of 3.46 and a beta of 1.05. The firm has a 50-day simple moving average of $169.08 and a two-hundred day simple moving average of $168.15. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. Oracle Co. has a 52 week low of $109.79 and a 52 week high of $198.31.

Oracle (NYSE:ORCL) last announced its quarterly earnings results on Monday, December 9th. The enterprise software provider reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.01). Oracle had a net margin of 21.16% and a return on equity of 133.25%. The firm had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $14.12 billion. During the same period in the previous year, the company posted $1.34 earnings per share. Oracle’s quarterly revenue was up 8.6% on a year-over-year basis. Analysts forecast that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, January 23rd were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.93%. Oracle’s payout ratio is currently 39.12%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ORCL. StockNews.com cut Oracle from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Monness Crespi & Hardt cut Oracle from a “neutral” rating to a “sell” rating and set a $130.00 target price on the stock. in a research report on Friday, December 20th. BMO Capital Markets boosted their price target on Oracle from $173.00 to $205.00 and gave the company a “market perform” rating in a research note on Tuesday, December 10th. KeyCorp raised their price objective on shares of Oracle from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Mizuho upped their target price on shares of Oracle from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Oracle presently has an average rating of “Moderate Buy” and an average price target of $182.73.

Insider Buying and Selling at Oracle

In other news, CEO Safra Catz sold 345,174 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $185.56, for a total value of $64,050,487.44. Following the completion of the sale, the chief executive officer now owns 1,118,592 shares in the company, valued at approximately $207,565,931.52. This trade represents a 23.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 42.20% of the company’s stock.

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.