Allspring Global Investments Holdings LLC Reduces Stock Position in Oracle Co. (NYSE:ORCL)

Allspring Global Investments Holdings LLC trimmed its stake in shares of Oracle Co. (NYSE:ORCL) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 653,002 shares of the enterprise software provider’s stock after selling 3,767 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Oracle were worth $82,024,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ORCL. Vanguard Group Inc. raised its position in shares of Oracle by 5.7% in the third quarter. Vanguard Group Inc. now owns 147,273,413 shares of the enterprise software provider’s stock valued at $15,599,200,000 after buying an additional 7,883,515 shares during the last quarter. Capital World Investors raised its holdings in Oracle by 22.1% in the 4th quarter. Capital World Investors now owns 18,384,162 shares of the enterprise software provider’s stock valued at $1,938,242,000 after acquiring an additional 3,323,334 shares during the last quarter. Parnassus Investments LLC lifted its stake in shares of Oracle by 17.7% during the 4th quarter. Parnassus Investments LLC now owns 14,599,902 shares of the enterprise software provider’s stock worth $1,539,268,000 after purchasing an additional 2,191,342 shares during the period. Putnam Investments LLC boosted its holdings in shares of Oracle by 6.0% during the fourth quarter. Putnam Investments LLC now owns 12,339,385 shares of the enterprise software provider’s stock worth $1,300,941,000 after purchasing an additional 697,961 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Oracle by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,909,069 shares of the enterprise software provider’s stock valued at $1,223,775,000 after purchasing an additional 204,546 shares during the period. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Insider Transactions at Oracle

In other news, insider Edward Screven sold 37,221 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $140.19, for a total value of $5,218,011.99. Following the transaction, the insider now owns 2,626,764 shares of the company’s stock, valued at $368,246,045.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Edward Screven sold 37,221 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $140.19, for a total value of $5,218,011.99. Following the transaction, the insider now directly owns 2,626,764 shares in the company, valued at $368,246,045.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Boskin sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $117.74, for a total transaction of $5,298,300.00. Following the transaction, the director now directly owns 87,473 shares in the company, valued at $10,299,071.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 385,639 shares of company stock worth $53,002,729. 42.80% of the stock is owned by insiders.

Oracle Stock Down 0.1 %

Oracle stock traded down $0.21 during mid-day trading on Tuesday, reaching $142.88. The company’s stock had a trading volume of 794,469 shares, compared to its average volume of 8,643,450. The business’s 50 day simple moving average is $125.24 and its 200 day simple moving average is $118.19. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.72 and a current ratio of 0.71. Oracle Co. has a 12 month low of $99.26 and a 12 month high of $145.32. The company has a market capitalization of $393.76 billion, a price-to-earnings ratio of 38.57, a price-to-earnings-growth ratio of 2.56 and a beta of 1.02.

Oracle (NYSE:ORCL) last released its earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.02). Oracle had a net margin of 19.76% and a return on equity of 223.01%. The firm had revenue of $14.29 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the prior year, the business posted $1.35 earnings per share. Oracle’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, research analysts anticipate that Oracle Co. will post 5.01 earnings per share for the current year.

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Thursday, July 11th. Oracle’s payout ratio is presently 43.13%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ORCL. Piper Sandler boosted their price objective on shares of Oracle from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, June 12th. BMO Capital Markets boosted their price target on Oracle from $142.00 to $160.00 and gave the company a “market perform” rating in a research report on Monday, June 17th. Morgan Stanley restated an “equal weight” rating and issued a $125.00 price objective on shares of Oracle in a report on Tuesday, June 25th. Mizuho boosted their target price on Oracle from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Finally, Evercore ISI raised their price target on shares of Oracle from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. Fourteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $145.83.

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.