1ST Source Bank Lowers Stake in Oracle Co. (NYSE:ORCL)

1ST Source Bank lowered its stake in shares of Oracle Co. (NYSE:ORCL) by 2.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 45,893 shares of the enterprise software provider’s stock after selling 1,259 shares during the period. 1ST Source Bank’s holdings in Oracle were worth $7,648,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Activest Wealth Management lifted its stake in shares of Oracle by 21.9% in the third quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider’s stock valued at $53,000 after purchasing an additional 56 shares during the period. Second Line Capital LLC lifted 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 valued at $650,000 after purchasing an additional 58 shares during the period. Cadence Bank lifted its stake in shares of Oracle by 0.8% in 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 period. Requisite Capital Management LLC raised 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 worth $373,000 after acquiring an additional 60 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. raised its position in Oracle by 4.4% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,423 shares of the enterprise software provider’s stock worth $237,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Insiders Place Their Bets

In other Oracle news, CEO Safra Catz sold 2,101,154 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $185.35, for a total transaction of $389,448,893.90. Following the completion of the sale, the chief executive officer now directly owns 1,118,592 shares in the company, valued at $207,331,027.20. The trade was a 65.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 42.20% of the stock is owned by insiders.

Oracle Price Performance

Oracle stock opened at $149.36 on Monday. Oracle Co. has a 1 year low of $112.78 and a 1 year high of $198.31. The firm has a 50 day moving average price of $165.80 and a 200 day moving average price of $169.85. The company has a market cap of $417.76 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 3.46 and a beta of 1.07. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.81 and a current ratio of 0.81.

Oracle (NYSE:ORCL) last released its earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.02). Oracle had a net margin of 21.16% and a return on equity of 133.25%. The company had revenue of $14.13 billion during the quarter, compared to analysts’ expectations of $14.40 billion. During the same quarter in the previous year, the firm posted $1.41 earnings per share. Oracle’s revenue for the quarter was up 6.4% compared to the same quarter last year. Sell-side analysts predict that Oracle Co. will post 5 earnings per share for the current year.

Oracle Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.50 per share. This is an increase from Oracle’s previous quarterly dividend of $0.40. This represents a $2.00 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Thursday, April 10th. Oracle’s payout ratio is currently 46.95%.

Analysts Set New Price Targets

ORCL has been the subject of a number of research reports. Morgan Stanley cut their target price on shares of Oracle from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 11th. Guggenheim restated a “buy” rating and set a $220.00 target price on shares of Oracle in a research report on Wednesday, March 5th. Monness Crespi & Hardt upgraded shares of Oracle from a “sell” rating to a “neutral” rating in a research report on Monday, March 3rd. Mizuho lifted their target price on shares of Oracle from $185.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Finally, Cantor Fitzgerald cut their target price on shares of Oracle from $214.00 to $175.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. Twelve investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.71.

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.