Investment Partners Asset Management Inc. Sells 250 Shares of Oracle Co. (NYSE:ORCL)

Investment Partners Asset Management Inc. trimmed its stake in Oracle Co. (NYSE:ORCL) by 2.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,570 shares of the enterprise software provider’s stock after selling 250 shares during the quarter. Investment Partners Asset Management Inc.’s holdings in Oracle were worth $1,076,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ORCL. Federated Hermes Inc. grew its position in shares of Oracle by 39.8% during the third quarter. Federated Hermes Inc. now owns 46,305 shares of the enterprise software provider’s stock worth $4,905,000 after purchasing an additional 13,183 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of Oracle by 22.3% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 7,841 shares of the enterprise software provider’s stock valued at $831,000 after acquiring an additional 1,428 shares in the last quarter. Eagle Asset Management Inc. increased its stake in shares of Oracle by 2.7% during the third quarter. Eagle Asset Management Inc. now owns 57,492 shares of the enterprise software provider’s stock valued at $6,090,000 after buying an additional 1,489 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Oracle by 39.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,991 shares of the enterprise software provider’s stock valued at $846,000 after acquiring an additional 2,276 shares in the last quarter. Finally, Mather Group LLC. raised its holdings in shares of Oracle by 4.1% in the 3rd quarter. Mather Group LLC. now owns 23,526 shares of the enterprise software provider’s stock valued at $2,492,000 after purchasing an additional 930 shares in the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Oracle from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 12th. TD Cowen boosted their price target on Oracle from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. JPMorgan Chase & Co. raised their price objective on Oracle from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, June 12th. Sanford C. Bernstein lifted their price objective on shares of Oracle from $159.00 to $171.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. Finally, HSBC increased their target price on shares of Oracle from $144.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Fourteen analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Oracle presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.83.

Insider Transactions at Oracle

In related news, Director Jeffrey Berg sold 22,500 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $143.12, for a total value of $3,220,200.00. Following the completion of the transaction, the director now owns 210,712 shares in the company, valued at approximately $30,157,101.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Jeffrey Berg sold 22,500 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $143.12, for a total transaction of $3,220,200.00. Following the completion of the transaction, the director now owns 210,712 shares in the company, valued at approximately $30,157,101.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Edward Screven sold 235,918 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $144.30, for a total transaction of $34,042,967.40. Following the sale, the insider now directly owns 2,626,764 shares of the company’s stock, valued at $379,042,045.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 348,418 shares of company stock valued at $47,784,717. 42.80% of the stock is currently owned by corporate insiders.

Oracle Price Performance

Shares of NYSE:ORCL traded up $2.34 during midday trading on Thursday, hitting $140.57. The company had a trading volume of 2,405,952 shares, compared to its average volume of 8,543,098. The business’s 50-day simple moving average is $124.23 and its 200-day simple moving average is $117.62. The stock has a market cap of $387.39 billion, a price-to-earnings ratio of 37.88, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.71 and a quick ratio of 0.72. Oracle Co. has a twelve month low of $99.26 and a twelve month high of $145.32.

Oracle (NYSE:ORCL) last issued its earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.02). Oracle had a return on equity of 223.01% and a net margin of 19.76%. The firm had revenue of $14.29 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same period last year, the firm earned $1.35 earnings per share. Oracle’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts predict that Oracle Co. will post 5.01 earnings per share for the current year.

Oracle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, July 11th. This represents a $1.60 annualized dividend and a yield of 1.14%. Oracle’s dividend payout ratio is currently 43.13%.

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.