Gabelli Funds LLC Lowers Stock Holdings in Oracle Co. (NYSE:ORCL)

Gabelli Funds LLC cut its holdings in Oracle Co. (NYSE:ORCL) by 7.8% in the second quarter, Holdings Channel reports. The institutional investor owned 6,762 shares of the enterprise software provider’s stock after selling 569 shares during the quarter. Gabelli Funds LLC’s holdings in Oracle were worth $955,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Werlinich Asset Management LLC boosted its holdings in shares of Oracle by 3.1% during the 2nd quarter. Werlinich Asset Management LLC now owns 2,325 shares of the enterprise software provider’s stock worth $326,000 after purchasing an additional 70 shares during the last quarter. RFP Financial Group LLC boosted its stake in Oracle by 2.7% during the second quarter. RFP Financial Group LLC now owns 2,869 shares of the enterprise software provider’s stock worth $405,000 after buying an additional 75 shares during the last quarter. ERn Financial LLC grew its holdings in Oracle by 0.6% in the 2nd quarter. ERn Financial LLC now owns 12,911 shares of the enterprise software provider’s stock valued at $1,823,000 after buying an additional 80 shares in the last quarter. Key Financial Inc increased its stake in shares of Oracle by 1.2% in the 2nd quarter. Key Financial Inc now owns 6,600 shares of the enterprise software provider’s stock worth $932,000 after acquiring an additional 80 shares during the last quarter. Finally, Abich Financial Wealth Management LLC raised its holdings in shares of Oracle by 18.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 530 shares of the enterprise software provider’s stock worth $67,000 after acquiring an additional 81 shares during the period. 42.44% of the stock is owned by institutional investors and hedge funds.

Oracle Stock Up 1.1 %

Shares of NYSE:ORCL opened at $168.11 on Friday. Oracle Co. has a fifty-two week low of $99.26 and a fifty-two week high of $173.99. The firm’s 50 day moving average price is $143.76 and its 200 day moving average price is $133.07. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.68. The stock has a market cap of $465.83 billion, a price-to-earnings ratio of 45.32, a price-to-earnings-growth ratio of 3.05 and a beta of 1.01.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.06. The business had revenue of $13.31 billion during the quarter, compared to analysts’ expectations of $13.23 billion. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 EPS. As a group, equities research analysts predict that Oracle Co. will post 5.01 earnings per share for the current fiscal year.

Oracle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.95%. Oracle’s payout ratio is currently 43.13%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Melius Research upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. Barclays lifted their price target on shares of Oracle from $160.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. JMP Securities raised Oracle from a “market perform” rating to an “outperform” rating and set a $175.00 target price for the company in a research note on Tuesday, September 10th. Citigroup upped their price target on Oracle from $140.00 to $157.00 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Finally, Melius raised Oracle from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research report on Monday, September 16th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $166.13.

Insider Transactions at Oracle

In other Oracle news, insider Edward Screven sold 426,861 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $141.91, for a total value of $60,575,844.51. Following the transaction, the insider now directly owns 2,626,764 shares in the company, valued at $372,764,079.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Oracle news, insider Edward Screven sold 426,861 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $141.91, for a total value of $60,575,844.51. Following the completion of the transaction, the insider now owns 2,626,764 shares in the company, valued at $372,764,079.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the sale, the executive vice president now owns 42,889 shares in the company, valued at approximately $7,076,685. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,573,181 shares of company stock valued at $225,338,245. Corporate insiders own 42.80% of the company’s stock.

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.