Tobam Reduces Holdings in Oracle Co. (NYSE:ORCL)

Tobam trimmed its holdings in shares of Oracle Co. (NYSE:ORCL) by 24.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,926 shares of the enterprise software provider’s stock after selling 13,403 shares during the period. Oracle comprises approximately 1.3% of Tobam’s holdings, making the stock its 27th biggest holding. Tobam’s holdings in Oracle were worth $7,144,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of 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 purchasing an additional 1,514,569 shares during the last quarter. Capital World Investors boosted its holdings in shares of Oracle by 0.4% in the 1st quarter. Capital World Investors now owns 18,466,713 shares of the enterprise software provider’s stock valued at $2,319,604,000 after purchasing an additional 82,551 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Oracle by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 13,242,340 shares of the enterprise software provider’s stock valued at $1,869,816,000 after purchasing an additional 296,866 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Oracle by 148.8% in the 1st 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 during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Oracle by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,318,962 shares of the enterprise software provider’s stock valued at $1,033,430,000 after purchasing an additional 424,500 shares during the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Oracle Stock Down 1.2 %

Shares of ORCL traded down $2.16 during midday trading on Thursday, hitting $175.73. The company had a trading volume of 3,842,829 shares, compared to its average volume of 8,532,461. The company’s 50 day moving average price is $150.03 and its 200 day moving average price is $136.15. The stock has a market cap of $484.29 billion, a price-to-earnings ratio of 47.23, a PEG ratio of 3.09 and a beta of 1.01. Oracle Co. has a 52 week low of $99.26 and a 52 week high of $178.61. 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 (NYSE:ORCL) last released its 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. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company had revenue of $13.31 billion during the quarter, compared to the consensus estimate of $13.23 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. The company’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts predict that Oracle Co. will post 5 EPS for the current year.

Oracle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Thursday, October 10th. Oracle’s dividend payout ratio is presently 43.13%.

Analyst Upgrades and Downgrades

ORCL has been the topic of a number of research analyst reports. Piper Sandler lifted their price target on shares of Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Sanford C. Bernstein lifted their target price on shares of Oracle from $201.00 to $202.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Argus lifted their target price on shares of Oracle from $145.00 to $159.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. StockNews.com upgraded shares of Oracle from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Finally, BMO Capital Markets lifted their target price on shares of Oracle from $160.00 to $173.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. Ten research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Oracle currently has a consensus rating of “Moderate Buy” and an average target price of $167.42.

Insider Activity at Oracle

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 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 $7,076,685. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Oracle 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 transaction of $1,042,800.00. Following the completion of the transaction, the executive vice president now directly owns 42,889 shares of the company’s stock, valued at $7,076,685. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the business’s stock in a transaction dated 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 transaction, the chairman now directly owns 1,145,732,353 shares of the company’s stock, valued at $164,630,281,802.57. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,146,320 shares of company stock valued at $164,762,400 in the last quarter. Insiders own 42.80% 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.