Lord Abbett & CO. LLC Has $59.71 Million Stake in Oracle Co. (NYSE:ORCL)

Lord Abbett & CO. LLC trimmed its position in shares of Oracle Co. (NYSE:ORCL) by 1.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 475,318 shares of the enterprise software provider’s stock after selling 8,602 shares during the period. Lord Abbett & CO. LLC’s holdings in Oracle were worth $59,705,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ORCL. Contour Asset Management LLC lifted its holdings in shares of Oracle by 41.5% in the fourth quarter. Contour Asset Management LLC now owns 2,192,950 shares of the enterprise software provider’s stock worth $231,203,000 after acquiring an additional 643,490 shares during the last quarter. Sandy Spring Bank lifted its holdings in shares of Oracle by 1.4% in the fourth quarter. Sandy Spring Bank now owns 78,049 shares of the enterprise software provider’s stock worth $8,229,000 after acquiring an additional 1,107 shares during the last quarter. Hancock Whitney Corp lifted its holdings in shares of Oracle by 12.7% in the fourth quarter. Hancock Whitney Corp now owns 29,301 shares of the enterprise software provider’s stock worth $3,089,000 after acquiring an additional 3,291 shares during the last quarter. LVM Capital Management Ltd. MI lifted its holdings in shares of Oracle by 3.5% in the fourth quarter. LVM Capital Management Ltd. MI now owns 5,986 shares of the enterprise software provider’s stock worth $631,000 after acquiring an additional 200 shares during the last quarter. Finally, Heritage Wealth Advisors lifted its holdings in shares of Oracle by 0.6% in the fourth quarter. Heritage Wealth Advisors now owns 16,995 shares of the enterprise software provider’s stock worth $1,792,000 after acquiring an additional 109 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Oracle Trading Up 0.4 %

Shares of ORCL stock traded up $0.53 during trading hours on Friday, hitting $138.56. 5,898,750 shares of the company were exchanged, compared to its average volume of 8,565,012. The firm has a market cap of $381.85 billion, a P/E ratio of 37.75, a P/E/G ratio of 2.52 and a beta of 1.02. Oracle Co. has a fifty-two week low of $99.26 and a fifty-two week high of $146.59. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.72 and a current ratio of 0.71. The company has a 50 day simple moving average of $132.74 and a two-hundred day simple moving average of $121.66.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.02). Oracle had a net margin of 19.76% and a return on equity of 223.01%. The business had revenue of $14.29 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same period in the previous year, the business posted $1.35 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts anticipate that Oracle Co. will post 5.01 EPS for the current year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, July 11th. Oracle’s payout ratio is currently 43.13%.

Analyst Ratings Changes

ORCL has been the subject of a number of research reports. Argus increased their target price on shares of Oracle from $145.00 to $159.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Oppenheimer initiated coverage on shares of Oracle in a report on Thursday, April 18th. They issued a “market perform” rating for the company. BMO Capital Markets raised their price objective on shares of Oracle from $142.00 to $160.00 and gave the company a “market perform” rating in a report on Monday, June 17th. Bank of America raised their price objective on shares of Oracle from $144.00 to $155.00 and gave the company a “neutral” rating in a report on Wednesday, June 12th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Oracle from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, June 17th. Fourteen analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.83.

Insiders Place Their Bets

In other news, insider Edward Screven sold 235,918 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $144.30, for a total value of $34,042,967.40. Following the completion of the sale, the insider now owns 2,626,764 shares in the company, valued at approximately $379,042,045.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Edward Screven sold 235,918 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $144.30, for a total value of $34,042,967.40. Following the completion of the sale, the insider now owns 2,626,764 shares in the company, valued at approximately $379,042,045.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $143.69, for a total transaction of $161,651,250.00. Following the completion of the sale, the chairman now owns 1,145,732,353 shares of the company’s stock, valued at approximately $164,630,281,802.57. The disclosure for this sale can be found here. Insiders have sold 1,937,500 shares of company stock valued at $275,229,824 in the last three months. 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.