Abacus Planning Group Inc. Sells 1,164 Shares of Oracle Co. (NYSE:ORCL)

Abacus Planning Group Inc. lessened its position in Oracle Co. (NYSE:ORCL) by 10.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,485 shares of the enterprise software provider’s stock after selling 1,164 shares during the quarter. Abacus Planning Group Inc.’s holdings in Oracle were worth $1,616,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ORCL. Westend Capital Management LLC bought a new stake in shares of Oracle in the first quarter valued at approximately $25,000. Fairway Wealth LLC bought a new position in Oracle during the second quarter worth $27,000. Frank Rimerman Advisors LLC acquired a new position in Oracle during the 4th quarter valued at $30,000. POM Investment Strategies LLC bought a new stake in Oracle in the 2nd quarter valued at $30,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in Oracle in the 2nd quarter worth $35,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ORCL shares. Jefferies Financial Group upped their price objective on shares of Oracle from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Evercore ISI upped their price target on Oracle from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Citigroup raised their price objective on Oracle from $140.00 to $157.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Sanford C. Bernstein boosted their price objective on Oracle from $201.00 to $202.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Melius raised Oracle from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research report on Monday, September 16th. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, Oracle presently has an average rating of “Moderate Buy” and a consensus price target of $167.42.

Oracle Trading Up 0.3 %

ORCL opened at $167.73 on Thursday. Oracle Co. has a 1-year low of $99.26 and a 1-year high of $173.99. The stock has a market capitalization of $464.79 billion, a PE ratio of 45.21, a PEG ratio of 3.10 and a beta of 1.01. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. The firm has a 50-day moving average price of $146.63 and a two-hundred day moving average price of $134.63.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. The business had revenue of $13.31 billion during 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%. Oracle’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 earnings per share. As a group, equities analysts anticipate that Oracle Co. will post 5.01 earnings per share for the current fiscal year.

Oracle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be given 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 yield of 0.95%. Oracle’s payout ratio is 43.13%.

Insiders Place Their Bets

In other news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 42,889 shares in the company, valued at approximately $7,076,685. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction on Monday, September 16th. The stock was sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the completion of the sale, the executive vice president now directly owns 42,889 shares of the company’s stock, valued at $7,076,685. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $143.69, for a total value of $161,651,250.00. Following the completion of the transaction, the chairman now directly owns 1,145,732,353 shares in the company, valued at approximately $164,630,281,802.57. The disclosure for this sale can be found here. In the last three months, insiders sold 1,573,181 shares of company stock valued at $225,338,245. 42.80% of the stock is currently owned by 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.