Prestige Wealth Management Group LLC Has $1.91 Million Stock Position in Oracle Co. (NYSE:ORCL)

Prestige Wealth Management Group LLC cut its holdings in Oracle Co. (NYSE:ORCL) by 16.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,218 shares of the enterprise software provider’s stock after selling 2,152 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Oracle were worth $1,912,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Fairway Wealth LLC bought a new position in shares of Oracle in the 2nd quarter valued at $27,000. POM Investment Strategies LLC acquired a new position in Oracle in the 2nd quarter worth about $30,000. Quest Partners LLC bought a new position in Oracle in the second quarter valued at about $40,000. Reston Wealth Management LLC acquired a new stake in shares of Oracle during the third quarter valued at about $44,000. Finally, Avondale Wealth Management bought a new stake in shares of Oracle during the third quarter worth about $51,000. Institutional investors own 42.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Oppenheimer reiterated a “market perform” rating on shares of Oracle in a report on Tuesday, September 10th. Melius upgraded Oracle from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research report on Monday, September 16th. Barclays increased their price target on Oracle from $160.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. DA Davidson lifted their price objective on Oracle from $105.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Finally, Citigroup increased their target price on shares of Oracle from $140.00 to $157.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Eleven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $171.52.

Oracle Stock Down 0.6 %

Oracle stock opened at $190.54 on Tuesday. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market cap of $528.00 billion, a PE ratio of 49.11, a price-to-earnings-growth ratio of 3.49 and a beta of 1.03. Oracle Co. has a fifty-two week low of $99.26 and a fifty-two week high of $198.31. The firm’s 50-day simple moving average is $179.76 and its 200 day simple moving average is $154.67.

Oracle (NYSE:ORCL) last announced its earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.01). The business had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $14.12 billion. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.34 earnings per share. Research analysts predict that Oracle Co. will post 5.06 EPS for the current fiscal year.

Oracle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, January 23rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.84%. Oracle’s dividend payout ratio is presently 41.24%.

Insider Transactions at Oracle

In other news, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the sale, the executive vice president now directly owns 42,889 shares in the company, valued at $7,076,685. This represents a 12.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 42.20% of the company’s stock.

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.