Sky Investment Group LLC Decreases Stock Position in Oracle Co. (NYSE:ORCL)

Sky Investment Group LLC decreased its position in shares of Oracle Co. (NYSE:ORCL) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,870 shares of the enterprise software provider’s stock after selling 150 shares during the period. Sky Investment Group LLC’s holdings in Oracle were worth $1,682,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc increased its stake in Oracle by 2.1% during the first quarter. AdvisorNet Financial Inc now owns 6,481 shares of the enterprise software provider’s stock worth $814,000 after acquiring an additional 133 shares during the last quarter. Gilman Hill Asset Management LLC bought a new stake in shares of Oracle during the 1st quarter worth approximately $219,000. Fermata Advisors LLC purchased a new position in Oracle during the 1st quarter valued at $381,000. Retirement Planning Group LLC grew its position in Oracle by 2.6% in the 1st quarter. Retirement Planning Group LLC now owns 3,888 shares of the enterprise software provider’s stock valued at $488,000 after acquiring an additional 97 shares during the last quarter. Finally, Beech Hill Advisors Inc. increased its stake in Oracle by 751.1% in the 1st quarter. Beech Hill Advisors Inc. now owns 29,788 shares of the enterprise software provider’s stock worth $3,742,000 after buying an additional 26,288 shares during the period. 42.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ORCL. Guggenheim lifted their price objective on Oracle from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, September 13th. TD Cowen boosted their price target on shares of Oracle from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Bank of America upped their price target on shares of Oracle from $155.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Morgan Stanley lifted their price objective on shares of Oracle from $125.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, September 10th. Finally, Piper Sandler upped their target price on Oracle from $150.00 to $175.00 and gave the stock 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $168.67.

Insider Buying and Selling

In related news, EVP Maria Smith sold 6,320 shares of the company’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 completion of the sale, the executive vice president now owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 42.80% of the stock is currently owned by company insiders.

Oracle Price Performance

Shares of ORCL stock traded up $1.21 on Tuesday, reaching $174.97. 952,585 shares of the company were exchanged, compared to its average volume of 8,402,742. Oracle Co. has a 1 year low of $99.26 and a 1 year high of $178.61. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72. The business has a 50-day moving average price of $157.11 and a 200 day moving average price of $139.02. The company has a market cap of $482.19 billion, a price-to-earnings ratio of 47.19, a P/E/G ratio of 3.25 and a beta of 1.01.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.33 by $0.06. The firm 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 firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 earnings per share. Equities research analysts forecast that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

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 0.91%. Oracle’s dividend payout ratio is presently 43.13%.

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.