Prio Wealth Limited Partnership Lowers Stake in Oracle Co. (NYSE:ORCL)

Prio Wealth Limited Partnership cut its position in shares of Oracle Co. (NYSE:ORCL) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 160,985 shares of the enterprise software provider’s stock after selling 2,348 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Oracle were worth $22,731,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Westend Capital Management LLC purchased a new position in Oracle in the first quarter valued at approximately $25,000. Fairway Wealth LLC acquired a new stake in shares of Oracle in the second quarter worth $27,000. Frank Rimerman Advisors LLC purchased a new position in shares of Oracle in the 4th quarter valued at $30,000. POM Investment Strategies LLC purchased a new stake in Oracle during the 2nd quarter worth $30,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in Oracle in the 2nd quarter valued at $35,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Stock Down 1.9 %

Shares of NYSE:ORCL opened at $167.12 on Wednesday. The stock has a market capitalization of $463.08 billion, a price-to-earnings ratio of 45.05, a price-to-earnings-growth ratio of 3.05 and a beta of 1.01. The company’s fifty day moving average is $146.05 and its two-hundred day moving average is $134.40. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72. Oracle Co. has a 1-year low of $99.26 and a 1-year high of $173.99.

Oracle (NYSE:ORCL) last announced its quarterly earnings data 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 business had revenue of $13.31 billion during the quarter, compared to analyst estimates of $13.23 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The company’s 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. Equities analysts anticipate that Oracle Co. will post 5.01 EPS for the current year.

Oracle Announces Dividend

The firm also recently announced 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 is Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.96%. Oracle’s payout ratio is currently 43.13%.

Insider Activity at Oracle

In other Oracle news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction that occurred on 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 transaction, the executive vice president now owns 42,889 shares in the company, valued at $7,076,685. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Leon E. Panetta sold 15,000 shares of Oracle stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $137.89, for a total value of $2,068,350.00. Following the transaction, the director now directly owns 58,090 shares of the company’s stock, valued at $8,010,030.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the completion of the sale, the executive vice president now 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 1,573,181 shares of company stock valued at $225,338,245 over the last ninety days. Insiders own 42.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ORCL shares. Evercore ISI boosted their price objective on Oracle from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Morgan Stanley upped their price target on Oracle from $125.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 10th. Melius upgraded shares of Oracle from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research note on Monday, September 16th. Guggenheim upped their target price on shares of Oracle from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, Barclays raised their price target on shares of Oracle from $160.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, Oracle presently has an average rating of “Moderate Buy” and an average target price of $167.42.

Oracle 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.