Oracle Co. (NYSE:ORCL) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. trimmed its stake in Oracle Co. (NYSE:ORCLFree Report) by 0.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 107,043 shares of the enterprise software provider’s stock after selling 940 shares during the quarter. Hartford Investment Management Co.’s holdings in Oracle were worth $11,286,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ORCL. Vanguard Group Inc. grew its holdings in shares of Oracle by 5.7% during 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 in the last quarter. State Street Corp grew its holdings in shares of Oracle by 1.5% during the second quarter. State Street Corp now owns 63,514,823 shares of the enterprise software provider’s stock valued at $7,563,980,000 after buying an additional 928,013 shares in the last quarter. Morgan Stanley grew its holdings in shares of Oracle by 9.6% during the fourth quarter. Morgan Stanley now owns 20,502,544 shares of the enterprise software provider’s stock valued at $1,675,878,000 after buying an additional 1,794,080 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Oracle by 3.5% during the third quarter. Northern Trust Corp now owns 18,718,180 shares of the enterprise software provider’s stock valued at $1,982,630,000 after buying an additional 635,994 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Oracle during the fourth quarter valued at $1,409,896,000. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Safra Catz sold 790,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $126.54, for a total value of $99,966,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,118,592 shares of the company’s stock, valued at approximately $141,546,631.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 42.80% of the company’s stock.

Oracle Stock Performance

NYSE:ORCL traded up $1.66 during mid-day trading on Wednesday, hitting $126.00. 3,264,932 shares of the company’s stock traded hands, compared to its average volume of 8,974,188. The firm has a 50 day moving average of $117.60 and a two-hundred day moving average of $111.72. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 13.34. Oracle Co. has a 12 month low of $92.93 and a 12 month high of $132.77. The firm has a market capitalization of $346.31 billion, a price-to-earnings ratio of 33.18, a price-to-earnings-growth ratio of 2.43 and a beta of 1.01.

Oracle (NYSE:ORCLGet Free Report) last announced its quarterly earnings data on Monday, March 11th. The enterprise software provider reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.04. Oracle had a return on equity of 336.11% and a net margin of 20.27%. The company had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter last year, the company earned $0.96 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities analysts forecast that Oracle Co. will post 4.44 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be given a $0.40 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.27%. Oracle’s dividend payout ratio is currently 42.22%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. BMO Capital Markets boosted their target price on Oracle from $126.00 to $142.00 and gave the company a “market perform” rating in a research note on Tuesday, March 12th. StockNews.com downgraded Oracle from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. KeyCorp assumed coverage on Oracle in a research note on Thursday, March 21st. They issued an “overweight” rating and a $150.00 target price on the stock. HSBC boosted their target price on Oracle from $144.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Finally, Argus raised Oracle from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.76.

Read Our Latest Stock Analysis on Oracle

About Oracle

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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