Sompo Asset Management Co. Ltd. Sells 820 Shares of Oracle Co. (NYSE:ORCL)

Sompo Asset Management Co. Ltd. lessened its holdings in Oracle Co. (NYSE:ORCL) by 12.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,810 shares of the enterprise software provider’s stock after selling 820 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Oracle were worth $820,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Contour Asset Management LLC lifted its stake in shares of Oracle by 41.5% during the 4th quarter. Contour Asset Management LLC now owns 2,192,950 shares of the enterprise software provider’s stock worth $231,203,000 after purchasing an additional 643,490 shares during the last quarter. Hancock Whitney Corp grew its stake in Oracle by 12.7% during the 4th quarter. Hancock Whitney Corp now owns 29,301 shares of the enterprise software provider’s stock worth $3,089,000 after buying an additional 3,291 shares during the last quarter. Heritage Wealth Advisors raised its stake in Oracle by 0.6% in the fourth quarter. Heritage Wealth Advisors now owns 16,995 shares of the enterprise software provider’s stock valued at $1,792,000 after buying an additional 109 shares during the last quarter. Goelzer Investment Management Inc. raised its stake in Oracle by 25.0% in the first quarter. Goelzer Investment Management Inc. now owns 7,492 shares of the enterprise software provider’s stock valued at $941,000 after buying an additional 1,500 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Oracle by 55.7% in the second quarter. GAMMA Investing LLC now owns 22,315 shares of the enterprise software provider’s stock worth $3,151,000 after acquiring an additional 7,982 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Edward Screven sold 426,861 shares of Oracle stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $141.91, for a total transaction of $60,575,844.51. Following the transaction, the insider now owns 2,626,764 shares in the company, valued at approximately $372,764,079.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Maria Smith sold 6,320 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $165.00, for a total value of $1,042,800.00. Following the sale, the executive vice president now directly owns 42,889 shares in the company, valued at approximately $7,076,685. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Edward Screven sold 426,861 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $141.91, for a total transaction of $60,575,844.51. Following the transaction, the insider now directly owns 2,626,764 shares of the company’s stock, valued at approximately $372,764,079.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,610,402 shares of company stock valued at $230,556,257. Insiders own 42.80% of the company’s stock.

Oracle Stock Performance

Shares of NYSE:ORCL opened at $167.96 on Friday. The business’s 50 day moving average price is $142.30 and its 200-day moving average price is $131.81. Oracle Co. has a 1 year low of $99.26 and a 1 year high of $173.99. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $465.41 billion, a PE ratio of 45.27, a P/E/G ratio of 3.21 and a beta of 1.01.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.06. The firm had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $0.95 earnings per share. As a group, equities research analysts expect that Oracle Co. will post 5.01 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. Oracle’s dividend payout ratio is presently 43.13%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Melius raised shares of Oracle from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research report on Monday, September 16th. Evercore ISI raised their price target on shares of Oracle from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Sanford C. Bernstein lifted their price objective on shares of Oracle from $159.00 to $171.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th. Argus upped their target price on Oracle from $145.00 to $159.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, DA Davidson lifted their price target on Oracle from $105.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $163.88.

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.