ProVise Management Group LLC Has $17.31 Million Holdings in Oracle Co. (NYSE:ORCL)

ProVise Management Group LLC grew its stake in shares of Oracle Co. (NYSE:ORCL) by 6.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 122,622 shares of the enterprise software provider’s stock after acquiring an additional 7,814 shares during the period. Oracle accounts for 1.5% of ProVise Management Group LLC’s holdings, making the stock its 17th largest position. ProVise Management Group LLC’s holdings in Oracle were worth $17,314,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of ORCL. Vanguard Group Inc. raised its position in shares of Oracle by 1.0% in the first 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 in the last quarter. Capital World Investors raised 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 valued at $2,319,604,000 after buying an additional 82,551 shares in the last quarter. Parnassus Investments LLC raised its position in shares of Oracle by 17.7% in the fourth quarter. Parnassus Investments LLC now owns 14,599,902 shares of the enterprise software provider’s stock valued at $1,539,268,000 after buying an additional 2,191,342 shares in the last quarter. Janus Henderson Group PLC increased its stake 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 acquiring an additional 7,699,141 shares during the last quarter. Finally, Putnam Investments LLC increased its stake in Oracle by 6.0% in the fourth quarter. Putnam Investments LLC now owns 12,339,385 shares of the enterprise software provider’s stock valued at $1,300,941,000 after acquiring an additional 697,961 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Oracle Price Performance

ORCL stock opened at $164.49 on Thursday. The firm has a market cap of $453.31 billion, a price-to-earnings ratio of 44.34, a PEG ratio of 2.95 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 12-month low of $99.26 and a 12-month high of $173.99. The company’s fifty day simple moving average is $141.34 and its 200 day simple moving average is $131.19.

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. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The firm had revenue of $13.31 billion for the quarter, compared to analyst estimates of $13.23 billion. During the same quarter in the prior year, the business earned $0.95 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts expect that Oracle Co. will post 5.06 earnings per share for the current year.

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.97%. Oracle’s dividend payout ratio is currently 43.13%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ORCL shares. KeyCorp lifted their price objective on shares of Oracle from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. StockNews.com raised shares of Oracle from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Piper Sandler boosted their target price on shares of Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Morgan Stanley boosted their target price on shares of Oracle from $125.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 10th. Finally, Evercore ISI boosted their target price on shares of Oracle from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $163.88.

Insider Activity

In other news, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the company’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 owns 1,145,732,353 shares in the company, valued at $164,630,281,802.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 completion of the sale, the chairman now directly owns 1,145,732,353 shares of the company’s stock, valued at $164,630,281,802.57. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Maria Smith sold 6,320 shares of the business’s stock in a transaction dated 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 $7,076,685. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,610,402 shares of company stock worth $230,556,257. Company insiders own 42.80% of the company’s stock.

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.