ProVise Management Group LLC Buys 1,926 Shares of Oracle Co. (NYSE:ORCL)

ProVise Management Group LLC grew its position in Oracle Co. (NYSE:ORCL) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 109,645 shares of the enterprise software provider’s stock after purchasing an additional 1,926 shares during the quarter. Oracle makes up about 1.0% of ProVise Management Group LLC’s portfolio, making the stock its 29th largest position. ProVise Management Group LLC’s holdings in Oracle were worth $11,560,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in 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 during the period. Northern Trust Corp boosted its position in Oracle by 3.5% during the third quarter. Northern Trust Corp now owns 18,718,180 shares of the enterprise software provider’s stock worth $1,982,630,000 after purchasing an additional 635,994 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Oracle by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,909,069 shares of the enterprise software provider’s stock worth $1,223,775,000 after purchasing an additional 204,546 shares during the period. Norges Bank bought a new position in Oracle during the fourth quarter worth about $1,210,181,000. Finally, Invesco Ltd. boosted its position in Oracle by 1.1% during the third quarter. Invesco Ltd. now owns 8,471,884 shares of the enterprise software provider’s stock worth $897,342,000 after purchasing an additional 89,876 shares during the period. 42.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. William Blair upgraded shares of Oracle from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 12th. Oppenheimer started coverage on shares of Oracle in a research report on Thursday, April 18th. They set a “market perform” rating for the company. The Goldman Sachs Group lifted their target price on shares of Oracle from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. BMO Capital Markets boosted their price objective on shares of Oracle from $126.00 to $142.00 and gave the stock a “market perform” rating in a report on Tuesday, March 12th. Finally, KeyCorp began coverage on shares of Oracle in a research note on Thursday, March 21st. They issued an “overweight” rating and a $150.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Oracle has an average rating of “Moderate Buy” and an average target price of $130.76.

Oracle Stock Down 1.0 %

Shares of Oracle stock traded down $1.18 during trading on Friday, hitting $122.91. 7,165,879 shares of the stock traded hands, compared to its average volume of 8,001,117. The stock’s fifty day simple moving average is $121.37 and its 200 day simple moving average is $114.89. Oracle Co. has a 52-week low of $98.77 and a 52-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 firm has a market cap of $337.82 billion, a P/E ratio of 32.34, a price-to-earnings-growth ratio of 2.89 and a beta of 1.03.

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

Oracle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.60 annualized dividend and a yield of 1.30%. Oracle’s dividend payout ratio (DPR) is 42.22%.

Insiders Place Their Bets

In related news, Director George H. Conrades sold 25,000 shares of Oracle stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $116.13, for a total transaction of $2,903,250.00. Following the completion of the transaction, the director now directly owns 17,836 shares of the company’s stock, valued at $2,071,294.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Oracle news, CEO Safra Catz sold 790,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $126.54, for a total value of $99,966,600.00. Following the sale, the chief executive officer now owns 1,118,592 shares in the company, valued at $141,546,631.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George H. Conrades sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $116.13, for a total transaction of $2,903,250.00. Following the sale, the director now owns 17,836 shares of the company’s stock, valued at $2,071,294.68. The disclosure for this sale can be found here. Insiders have sold a total of 880,000 shares of company stock worth $110,488,150 in the last quarter. 42.80% of the stock is owned by company insiders.

Oracle 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.