Brave Asset Management Inc. Sells 1,746 Shares of Oracle Co. (NYSE:ORCL)

Brave Asset Management Inc. reduced its stake in Oracle Co. (NYSE:ORCLGet Rating) by 23.8% in the second quarter, Holdings Channel.com reports. The fund owned 5,579 shares of the enterprise software provider’s stock after selling 1,746 shares during the period. Brave Asset Management Inc.’s holdings in Oracle were worth $390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. raised its position in shares of Oracle by 2.6% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 5,041 shares of the enterprise software provider’s stock worth $417,000 after buying an additional 126 shares in the last quarter. Dividend Assets Capital LLC raised its position in shares of Oracle by 14.0% in the first quarter. Dividend Assets Capital LLC now owns 1,125 shares of the enterprise software provider’s stock worth $93,000 after buying an additional 138 shares in the last quarter. Financial Management Professionals Inc. raised its position in shares of Oracle by 7.1% in the first quarter. Financial Management Professionals Inc. now owns 2,145 shares of the enterprise software provider’s stock worth $177,000 after buying an additional 143 shares in the last quarter. Crewe Advisors LLC raised its position in shares of Oracle by 4.9% in the first quarter. Crewe Advisors LLC now owns 3,189 shares of the enterprise software provider’s stock worth $264,000 after buying an additional 150 shares in the last quarter. Finally, 1900 Wealth Management LLC raised its position in shares of Oracle by 0.9% in the first quarter. 1900 Wealth Management LLC now owns 16,541 shares of the enterprise software provider’s stock worth $1,368,000 after buying an additional 150 shares in the last quarter. 41.92% of the stock is owned by institutional investors.

Oracle Stock Performance

Shares of ORCL traded down $1.62 during midday trading on Friday, hitting $64.41. 412,225 shares of the company traded hands, compared to its average volume of 9,975,058. The firm has a 50 day moving average of $74.89 and a 200-day moving average of $74.58. Oracle Co. has a 52 week low of $63.76 and a 52 week high of $106.34. The stock has a market cap of $173.63 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 2.02 and a beta of 0.87.

Oracle (NYSE:ORCLGet Rating) last released its quarterly earnings data on Monday, September 12th. The enterprise software provider reported $0.81 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.07). The company had revenue of $11.45 billion for the quarter, compared to the consensus estimate of $11.44 billion. Oracle had a net margin of 13.15% and a negative return on equity of 161.07%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the company earned $0.87 EPS. Sell-side analysts predict that Oracle Co. will post 4.13 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Wednesday, October 12th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Tuesday, October 11th. Oracle’s dividend payout ratio is 60.95%.

Insider Buying and Selling

In other Oracle news, insider Edward Screven sold 419,174 shares of the company’s stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $69.22, for a total value of $29,015,224.28. Following the transaction, the insider now directly owns 2,492,613 shares in the company, valued at approximately $172,538,671.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 39.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ORCL has been the topic of a number of research reports. Daiwa Capital Markets lowered their price target on Oracle from $87.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, June 27th. Berenberg Bank initiated coverage on Oracle in a research report on Wednesday, September 14th. They set a “hold” rating and a $72.00 price target on the stock. Monness Crespi & Hardt initiated coverage on Oracle in a research report on Tuesday, September 13th. They set a “buy” rating and a $113.00 price target on the stock. Societe Generale lowered their price target on Oracle to $91.00 in a research report on Tuesday. Finally, Piper Sandler restated a “hold” rating and set a $70.00 price target on shares of Oracle in a research report on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $88.67.

About Oracle

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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 Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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