Icon Wealth Advisors LLC Sells 12,199 Shares of Oracle Co. (NYSE:ORCL)

Icon Wealth Advisors LLC cut its stake in Oracle Co. (NYSE:ORCL) by 83.7% in the third quarter, HoldingsChannel.com reports. The fund owned 2,368 shares of the enterprise software provider’s stock after selling 12,199 shares during the period. Icon Wealth Advisors LLC’s holdings in Oracle were worth $433,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ORCL. Activest Wealth Management raised its stake in Oracle by 21.9% during the 3rd quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider’s stock valued at $53,000 after buying an additional 56 shares during the last quarter. Eagle Rock Investment Company LLC grew its holdings in shares of Oracle by 0.4% in the third quarter. Eagle Rock Investment Company LLC now owns 17,626 shares of the enterprise software provider’s stock worth $3,003,000 after acquiring an additional 64 shares during the period. W Advisors LLC increased its position in Oracle by 3.1% during the third quarter. W Advisors LLC now owns 2,158 shares of the enterprise software provider’s stock valued at $368,000 after acquiring an additional 64 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Oracle by 1.7% in the third quarter. Versant Capital Management Inc now owns 3,957 shares of the enterprise software provider’s stock valued at $674,000 after acquiring an additional 65 shares during the period. Finally, Oak Ridge Investments LLC boosted its position in Oracle by 3.9% in the third quarter. Oak Ridge Investments LLC now owns 1,730 shares of the enterprise software provider’s stock worth $295,000 after purchasing an additional 65 shares during the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ORCL has been the topic of several recent research reports. Jefferies Financial Group increased their price objective on shares of Oracle from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Stifel Nicolaus lifted their price target on shares of Oracle from $135.00 to $155.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Morgan Stanley upped their price objective on Oracle from $125.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 10th. Evercore ISI lifted their target price on Oracle from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. boosted their price target on Oracle from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $169.52.

Oracle Price Performance

Shares of Oracle stock opened at $192.29 on Friday. The firm has a market cap of $532.85 billion, a PE ratio of 49.56, a PEG ratio of 3.55 and a beta of 1.02. The stock has a 50 day moving average of $175.62 and a 200 day moving average of $149.41. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. Oracle Co. has a 12 month low of $99.26 and a 12 month high of $196.04.

Oracle (NYSE:ORCL) last posted its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The firm had revenue of $13.31 billion during the quarter, compared to the consensus estimate of $13.23 billion. During the same period in the prior year, the company earned $0.95 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, research analysts expect that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Thursday, October 10th. Oracle’s dividend payout ratio is 41.24%.

Insider Buying and Selling

In related news, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the sale, the executive vice president now directly owns 42,889 shares in the company, valued at $7,076,685. This trade represents a 12.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 42.20% of the stock is currently 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.