Norden Group LLC Lowers Holdings in Oracle Co. (NYSE:ORCL)

Norden Group LLC lessened its holdings in Oracle Co. (NYSE:ORCL) by 10.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,371 shares of the enterprise software provider’s stock after selling 1,013 shares during the period. Norden Group LLC’s holdings in Oracle were worth $883,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brookstone Capital Management grew its holdings in shares of Oracle by 62.1% during the third quarter. Brookstone Capital Management now owns 18,188 shares of the enterprise software provider’s stock worth $1,970,000 after purchasing an additional 6,970 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Oracle by 6.8% in the third quarter. Commonwealth Equity Services LLC now owns 570,999 shares of the enterprise software provider’s stock valued at $60,480,000 after purchasing an additional 36,106 shares during the last quarter. FAS Wealth Partners Inc. increased its holdings in shares of Oracle by 52.6% during the 3rd quarter. FAS Wealth Partners Inc. now owns 2,987 shares of the enterprise software provider’s stock worth $316,000 after buying an additional 1,029 shares during the last quarter. TriaGen Wealth Management LLC grew its stake in Oracle by 186.1% during the third quarter. TriaGen Wealth Management LLC now owns 10,361 shares of the enterprise software provider’s stock worth $1,097,000 after buying an additional 6,740 shares during the period. Finally, Deltec Asset Management LLC purchased a new position in Oracle in the third quarter valued at about $2,012,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. HSBC lifted their price target on Oracle from $144.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. William Blair raised shares of Oracle from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 12th. StockNews.com raised shares of Oracle from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Piper Sandler dropped their target price on shares of Oracle from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, January 2nd. Finally, The Goldman Sachs Group raised their target price on shares of Oracle from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Ten investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $130.76.

Insider Activity at Oracle

In related 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 transaction of $99,966,600.00. Following the completion of the sale, the chief executive officer now directly owns 1,118,592 shares of the company’s stock, valued at $141,546,631.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 42.80% of the stock is currently owned by company insiders.

Oracle Price Performance

Oracle stock traded down $2.32 during mid-day trading on Tuesday, reaching $114.17. The company had a trading volume of 2,849,272 shares, compared to its average volume of 8,368,718. Oracle Co. has a fifty-two week low of $93.85 and a fifty-two week high of $132.77. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 13.34. The company has a market cap of $313.80 billion, a P/E ratio of 30.74, a P/E/G ratio of 2.35 and a beta of 1.01. The business has a fifty day simple moving average of $119.52 and a 200 day simple moving average of $113.21.

Oracle (NYSE:ORCL) last issued its quarterly earnings results 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 net margin of 20.27% and a return on equity of 336.11%. The company had revenue of $13.28 billion for the quarter, compared to analyst estimates of $13.29 billion. During the same quarter in the previous year, the business earned $0.96 earnings per share. Oracle’s revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts predict that Oracle Co. will post 4.44 earnings per share for the current year.

Oracle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.40%. Oracle’s payout ratio is presently 42.22%.

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.