Malaga Cove Capital LLC Sells 3,056 Shares of Oracle Co. (NYSE:ORCL)

Malaga Cove Capital LLC lowered its position in shares of Oracle Co. (NYSE:ORCL) by 15.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,319 shares of the enterprise software provider’s stock after selling 3,056 shares during the period. Oracle accounts for approximately 1.1% of Malaga Cove Capital LLC’s investment portfolio, making the stock its 28th biggest holding. Malaga Cove Capital LLC’s holdings in Oracle were worth $2,781,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new position in shares of Oracle during the 2nd quarter worth approximately $27,000. POM Investment Strategies LLC acquired a new stake in Oracle during the second quarter worth approximately $30,000. Bbjs Financial Advisors LLC bought a new position in Oracle during the 2nd quarter worth $35,000. Koesten Hirschmann & Crabtree INC. acquired a new position in Oracle in the 1st quarter valued at $38,000. Finally, Quest Partners LLC bought a new stake in shares of Oracle during the 2nd quarter valued at $40,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ORCL. Jefferies Financial Group raised their price target on Oracle from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. raised their target price on shares of Oracle from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Stifel Nicolaus upped their price target on shares of Oracle from $135.00 to $155.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Piper Sandler increased their price target on shares of Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Finally, Guggenheim boosted their price objective on shares of Oracle from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Eleven 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, Oracle presently has an average rating of “Moderate Buy” and an average target price of $168.52.

Oracle Price Performance

Oracle stock opened at $181.24 on Thursday. The stock’s 50 day moving average is $165.58 and its 200 day moving average is $143.29. Oracle Co. has a one year low of $99.26 and a one year high of $182.10. The firm has a market cap of $502.23 billion, a P/E ratio of 46.71, a P/E/G ratio of 3.12 and a beta of 1.02. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72.

Oracle (NYSE:ORCL) last posted its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. The company had revenue of $13.31 billion for the quarter, compared to analyst estimates of $13.23 billion. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 EPS. As a group, research analysts expect that Oracle Co. will post 5 EPS for the current year.

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.88%. Oracle’s payout ratio is 41.24%.

Insider Buying and Selling

In related news, EVP Maria Smith sold 6,320 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 42,889 shares in the company, valued at $7,076,685. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 42.20% of the stock is currently owned by insiders.

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.