Weatherly Asset Management L. P. Cuts Stock Holdings in Oracle Co. (NYSE:ORCL)

Posted by Lars Charter on Mar 18th, 2023

Weatherly Asset Management L. P. decreased its holdings in shares of Oracle Co. (NYSE:ORCL – Get Rating) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,449 shares of the enterprise software provider’s stock after selling 187 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Oracle were worth $936,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ORCL. McClarren Financial Advisors Inc. purchased a new stake in Oracle in the third quarter worth approximately $28,000. FSC Wealth Advisors LLC purchased a new stake in Oracle in the third quarter worth approximately $29,000. Pacifica Partners Inc. boosted its stake in Oracle by 108.9% in the third quarter. Pacifica Partners Inc. now owns 401 shares of the enterprise software provider’s stock worth $29,000 after buying an additional 209 shares in the last quarter. Cowa LLC purchased a new stake in Oracle in the third quarter worth approximately $30,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in Oracle in the third quarter worth approximately $31,000. Hedge funds and other institutional investors own 40.96% of the company’s stock.

Insiders Place Their Bets

In other Oracle news, Director Rona Alison Fairhead sold 8,080 shares of the stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $89.82, for a total value of $725,745.60. Following the completion of the transaction, the director now owns 11,197 shares in the company, valued at $1,005,714.54. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 43.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on ORCL shares. Berenberg Bank upped their target price on Oracle from $72.00 to $82.50 in a research note on Wednesday, March 8th. KeyCorp boosted their price objective on Oracle from $94.00 to $98.00 and gave the company an “overweight” rating in a research report on Wednesday, January 18th. UBS Group boosted their price objective on Oracle from $75.00 to $87.00 in a research report on Friday, March 10th. Cowen lowered their price objective on Oracle from $98.00 to $96.00 and set an “outperform” rating for the company in a research report on Tuesday, December 13th. Finally, StockNews.com upgraded Oracle from a “hold” rating to a “buy” rating in a research report on Friday, March 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Oracle currently has an average rating of “Moderate Buy” and a consensus price target of $95.06.

Oracle Stock Performance

Shares of Oracle stock traded up $0.44 during midday trading on Friday, reaching $85.26. 13,066,028 shares of the company’s stock traded hands, compared to its average volume of 7,163,995. The company has a market cap of $230.18 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 2.65 and a beta of 1.02. The stock has a 50 day moving average of $87.66 and a 200-day moving average of $79.42. Oracle Co. has a 12 month low of $60.78 and a 12 month high of $91.22.

Oracle (NYSE:ORCL – Get Rating) last posted its quarterly earnings data on Thursday, March 9th. The enterprise software provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.02. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $12.42 billion. Oracle had a negative return on equity of 262.40% and a net margin of 17.46%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 earnings per share. On average, equities analysts anticipate that Oracle Co. will post 3.99 earnings per share for the current fiscal year.

Oracle Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 24th. Shareholders of record on Tuesday, April 11th will be issued a $0.40 dividend. This is an increase from Oracle’s previous quarterly dividend of $0.32. The ex-dividend date is Monday, April 10th. This represents a $1.60 dividend on an annualized basis and a yield of 1.88%. Oracle’s dividend payout ratio is 42.24%.

Oracle Profile

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Oracle Corp. engages in the provision of products and services that address all aspects of corporate information technology environments. It operates through the following business segments: Cloud and License, Hardware, and Services. The Cloud and License segment markets, sells, and delivers applications, platform, and infrastructure technologies.