SignalPoint Asset Management LLC Cuts Stake in Oracle Co. (NYSE:ORCL)

SignalPoint Asset Management LLC trimmed its position in shares of Oracle Co. (NYSE:ORCL) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,912 shares of the enterprise software provider’s stock after selling 135 shares during the quarter. SignalPoint Asset Management LLC’s holdings in Oracle were worth $704,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. NewSquare Capital LLC lifted its stake in Oracle by 843.3% during the 1st quarter. NewSquare Capital LLC now owns 283 shares of the enterprise software provider’s stock valued at $26,000 after acquiring an additional 253 shares during the period. Clear Investment Research LLC bought a new position in Oracle during the 4th quarter valued at about $25,000. Quintet Private Bank Europe S.A. bought a new position in Oracle during the 1st quarter valued at about $30,000. Steward Financial Group LLC bought a new position in Oracle during the 4th quarter valued at about $27,000. Finally, Altshuler Shaham Ltd bought a new position in Oracle during the 1st quarter valued at about $32,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Oracle Price Performance

ORCL traded down $0.10 during trading on Tuesday, reaching $112.11. 1,910,405 shares of the company traded hands, compared to its average volume of 9,118,127. The company has a debt-to-equity ratio of 29.72, a quick ratio of 0.87 and a current ratio of 0.87. Oracle Co. has a 12-month low of $60.78 and a 12-month high of $127.54. The firm has a fifty day simple moving average of $117.28 and a 200 day simple moving average of $106.40. The company has a market cap of $307.16 billion, a P/E ratio of 33.40, a PEG ratio of 2.98 and a beta of 1.00.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Monday, September 11th. The enterprise software provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. Oracle had a net margin of 18.40% and a negative return on equity of 470.73%. The business had revenue of $12.45 billion during the quarter, compared to analyst estimates of $12.48 billion. During the same period last year, the firm posted $0.81 EPS. The company’s revenue was up 8.8% on a year-over-year basis. On average, equities analysts forecast that Oracle Co. will post 4.49 EPS for the current year.

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 26th. Investors of record on Thursday, October 12th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Wednesday, October 11th. Oracle’s dividend payout ratio (DPR) is presently 47.62%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ORCL. Jefferies Financial Group upped their target price on shares of Oracle from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, September 7th. Piper Sandler reiterated an “overweight” rating and issued a $130.00 price objective on shares of Oracle in a research note on Tuesday, September 12th. Guggenheim increased their price objective on shares of Oracle from $120.00 to $150.00 in a research note on Tuesday, June 13th. BMO Capital Markets increased their price objective on shares of Oracle from $96.00 to $132.00 in a research note on Tuesday, June 13th. Finally, Bank of America increased their price objective on shares of Oracle from $112.00 to $132.00 in a research note on Tuesday, June 13th. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $123.06.

Insider Activity at Oracle

In related news, Chairman Lawrence Joseph Ellison sold 1,750,000 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $120.95, for a total value of $211,662,500.00. Following the completion of the transaction, the chairman now directly owns 1,145,732,353 shares of the company’s stock, valued at $138,576,328,095.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Oracle news, Director Michael J. Boskin sold 90,000 shares of Oracle stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $118.83, for a total transaction of $10,694,700.00. Following the completion of the transaction, the director now directly owns 87,473 shares of the company’s stock, valued at $10,394,416.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Lawrence Joseph Ellison sold 1,750,000 shares of Oracle stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $120.95, for a total transaction of $211,662,500.00. Following the transaction, the chairman now directly owns 1,145,732,353 shares of the company’s stock, valued at $138,576,328,095.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,845,000 shares of company stock valued at $222,934,550. 43.70% of the stock is owned by corporate insiders.

About Oracle

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.