Oracle Co. (NYSE:ORCL) Position Reduced by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS lowered its stake in Oracle Co. (NYSE:ORCL) by 36.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,474 shares of the enterprise software provider’s stock after selling 1,405 shares during the period. Legacy Wealth Management LLC MS’s holdings in Oracle were worth $412,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. lifted its stake in Oracle by 5.3% during the third quarter. Principal Financial Group Inc. now owns 2,416,362 shares of the enterprise software provider’s stock worth $411,748,000 after purchasing an additional 121,874 shares during the last quarter. Itau Unibanco Holding S.A. lifted its position in shares of Oracle by 15.3% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 24,800 shares of the enterprise software provider’s stock worth $3,502,000 after buying an additional 3,300 shares during the last quarter. Chase Investment Counsel Corp acquired a new position in shares of Oracle in the 3rd quarter valued at about $4,160,000. Oppenheimer Asset Management Inc. boosted its holdings in shares of Oracle by 79.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 286,460 shares of the enterprise software provider’s stock valued at $48,813,000 after buying an additional 126,985 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in shares of Oracle by 84.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 863,883 shares of the enterprise software provider’s stock valued at $147,206,000 after buying an additional 395,613 shares during the last quarter. Institutional investors and hedge funds own 42.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ORCL shares. Royal Bank of Canada restated a “sector perform” rating and issued a $165.00 target price on shares of Oracle in a research note on Thursday, December 5th. Piper Sandler increased their target price on Oracle from $185.00 to $210.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Melius upgraded shares of Oracle from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a research report on Monday, September 16th. BNP Paribas raised shares of Oracle to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, Guggenheim boosted their target price on shares of Oracle from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.48.

Oracle Trading Up 0.7 %

Shares of Oracle stock traded up $1.09 during trading on Monday, hitting $167.41. The stock had a trading volume of 1,598,838 shares, compared to its average volume of 4,158,304. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. The company has a market capitalization of $468.24 billion, a PE ratio of 40.93, a P/E/G ratio of 3.39 and a beta of 1.06. Oracle Co. has a 1 year low of $102.13 and a 1 year high of $198.31. The stock has a 50 day simple moving average of $178.62 and a 200 day simple moving average of $160.29.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.01). Oracle had a return on equity of 133.25% and a net margin of 21.16%. The business had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $14.12 billion. During the same period in the prior year, the company posted $1.34 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. On average, research analysts expect that Oracle Co. will post 5.03 EPS for the current fiscal year.

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, January 23rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, January 10th. Oracle’s payout ratio is presently 39.12%.

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.