Estabrook Capital Management Has $509,000 Stake in Oracle Co. (NYSE:ORCL)

Estabrook Capital Management lowered its holdings in shares of Oracle Co. (NYSE:ORCL) by 13.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,607 shares of the enterprise software provider’s stock after selling 560 shares during the quarter. Estabrook Capital Management’s holdings in Oracle were worth $509,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its position in Oracle by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 151,213,890 shares of the enterprise software provider’s stock valued at $18,993,977,000 after buying an additional 1,514,569 shares during the last quarter. Capital World Investors lifted its position in shares of Oracle by 0.4% in the first quarter. Capital World Investors now owns 18,466,713 shares of the enterprise software provider’s stock worth $2,319,604,000 after purchasing an additional 82,551 shares in the last quarter. Parnassus Investments LLC boosted its holdings in Oracle by 17.7% during the fourth quarter. Parnassus Investments LLC now owns 14,599,902 shares of the enterprise software provider’s stock worth $1,539,268,000 after purchasing an additional 2,191,342 shares during the last quarter. Janus Henderson Group PLC grew its position in Oracle by 148.8% in the first quarter. Janus Henderson Group PLC now owns 12,872,300 shares of the enterprise software provider’s stock valued at $1,616,855,000 after purchasing an additional 7,699,141 shares in the last quarter. Finally, Putnam Investments LLC increased its stake in Oracle by 6.0% in the 4th quarter. Putnam Investments LLC now owns 12,339,385 shares of the enterprise software provider’s stock valued at $1,300,941,000 after buying an additional 697,961 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ORCL has been the subject of several analyst reports. KeyCorp raised their price objective on Oracle from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. BMO Capital Markets boosted their price target on Oracle from $160.00 to $173.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 10th. Jefferies Financial Group increased their price objective on Oracle from $170.00 to $190.00 and gave the company a “buy” rating in a report on Monday, September 16th. Melius Research upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. Finally, Citigroup lifted their target price on Oracle from $140.00 to $157.00 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Oracle currently has a consensus rating of “Moderate Buy” and an average target price of $166.13.

Oracle Stock Performance

Shares of Oracle stock opened at $168.00 on Friday. The stock has a market cap of $465.52 billion, a price-to-earnings ratio of 45.28, a P/E/G ratio of 3.21 and a beta of 1.01. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.68. Oracle Co. has a twelve month low of $99.26 and a twelve month high of $173.99. The company’s fifty day moving average is $142.30 and its 200 day moving average is $131.96.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.06. The company had revenue of $13.31 billion during the quarter, compared to analysts’ expectations of $13.23 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.95 earnings per share. Sell-side analysts forecast that Oracle Co. will post 5.01 EPS for the current year.

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Thursday, October 10th. Oracle’s dividend payout ratio is currently 43.13%.

Insider Transactions at Oracle

In other Oracle news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $143.69, for a total transaction of $161,651,250.00. Following the sale, the chairman now owns 1,145,732,353 shares of the company’s stock, valued at $164,630,281,802.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Oracle news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $143.69, for a total value of $161,651,250.00. Following the transaction, the chairman now directly owns 1,145,732,353 shares of the company’s stock, valued at $164,630,281,802.57. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the sale, the executive vice president now directly owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. The disclosure for this sale can be found here. Insiders sold a total of 1,610,402 shares of company stock worth $230,556,257 over the last three months. 42.80% of the stock is owned by company insiders.

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.