Sawgrass Asset Management LLC Has $13.14 Million Stake in Oracle Co. (NYSE:ORCL)

Sawgrass Asset Management LLC cut its stake in shares of Oracle Co. (NYSE:ORCL) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,626 shares of the enterprise software provider’s stock after selling 4,153 shares during the quarter. Oracle makes up about 1.5% of Sawgrass Asset Management LLC’s portfolio, making the stock its 20th largest position. Sawgrass Asset Management LLC’s holdings in Oracle were worth $13,139,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Orion Capital Management LLC bought a new stake in shares of Oracle during the third quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of Oracle by 298.4% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 243 shares of the enterprise software provider’s stock valued at $26,000 after buying an additional 182 shares during the last quarter. Spartan Planning & Wealth Management purchased a new stake in Oracle in the 3rd quarter valued at $27,000. Cornerstone Planning Group LLC lifted its stake in Oracle by 1,268.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 342 shares of the enterprise software provider’s stock valued at $36,000 after acquiring an additional 317 shares in the last quarter. Finally, BOK Financial Private Wealth Inc. grew its stake in shares of Oracle by 139.4% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 371 shares of the enterprise software provider’s stock worth $39,000 after acquiring an additional 216 shares in the last quarter. 42.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ORCL shares. William Blair upgraded shares of Oracle from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 12th. Oppenheimer started coverage on Oracle in a research report on Thursday, April 18th. They issued a “market perform” rating on the stock. BMO Capital Markets lifted their target price on Oracle from $126.00 to $142.00 and gave the stock a “market perform” rating in a research note on Tuesday, March 12th. HSBC raised their price objective on shares of Oracle from $144.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, The Goldman Sachs Group lifted their price target on shares of Oracle from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Eleven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Oracle currently has an average rating of “Moderate Buy” and an average price target of $130.76.

Insider Buying and Selling

In other Oracle news, Director Michael J. Boskin sold 45,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $117.74, for a total transaction of $5,298,300.00. Following the completion of the sale, the director now owns 87,473 shares of the company’s stock, valued at approximately $10,299,071.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Michael J. Boskin sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $117.74, for a total transaction of $5,298,300.00. Following the transaction, the director now directly owns 87,473 shares of the company’s stock, valued at $10,299,071.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Safra Catz sold 790,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $126.54, for a total value of $99,966,600.00. Following the completion of the sale, the chief executive officer now directly owns 1,118,592 shares of the company’s stock, valued at approximately $141,546,631.68. 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 ninety days. 42.80% of the stock is owned by insiders.

Oracle Price Performance

NYSE:ORCL traded down $0.54 during midday trading on Wednesday, hitting $117.39. The company had a trading volume of 4,635,195 shares, compared to its average volume of 8,200,177. The stock’s fifty day moving average price is $120.19 and its 200-day moving average price is $113.57. Oracle Co. has a 52-week low of $96.10 and a 52-week high of $132.77. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 13.34. The company has a market capitalization of $322.65 billion, a PE ratio of 30.97, a P/E/G ratio of 2.32 and a beta of 1.03.

Oracle (NYSE:ORCL) last released its earnings results on Monday, March 11th. The enterprise software provider reported $1.41 earnings per share for the quarter, topping 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 quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS. As a group, research analysts expect that Oracle Co. will post 4.44 earnings per share for the current year.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.36%. Oracle’s dividend payout ratio (DPR) is currently 42.22%.

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.