BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Stake in Oracle Co. (NYSE:ORCL)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in Oracle Co. (NYSE:ORCL) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 497,955 shares of the enterprise software provider’s stock after selling 27,170 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Oracle were worth $84,852,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Principal Financial Group Inc. lifted its stake in Oracle by 5.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,416,362 shares of the enterprise software provider’s stock worth $411,748,000 after purchasing an additional 121,874 shares in the last quarter. Itau Unibanco Holding S.A. grew its position in shares of Oracle by 15.3% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 24,800 shares of the enterprise software provider’s stock worth $3,502,000 after buying an additional 3,300 shares during the last quarter. Chase Investment Counsel Corp purchased a new position in shares of Oracle in the third quarter worth $4,160,000. Oppenheimer Asset Management Inc. raised its position in Oracle by 79.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 286,460 shares of the enterprise software provider’s stock worth $48,813,000 after buying an additional 126,985 shares during the last quarter. Finally, Buckley Wealth Management LLC lifted its holdings in shares of Oracle by 63.8% in the 3rd quarter. Buckley Wealth Management LLC now owns 7,370 shares of the enterprise software provider’s stock valued at $1,256,000 after buying an additional 2,870 shares during the period. 42.44% of the stock is owned by institutional investors.

Insider Transactions at Oracle

In other Oracle news, EVP Maria Smith sold 6,320 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $165.00, for a total value of $1,042,800.00. Following the sale, the executive vice president now owns 42,889 shares of the company’s stock, valued at $7,076,685. The trade was a 12.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 42.20% of the stock is currently owned by corporate insiders.

Oracle Price Performance

NYSE ORCL opened at $185.01 on Friday. The company has a 50 day simple moving average of $177.45 and a 200-day simple moving average of $151.58. Oracle Co. has a 52-week low of $99.26 and a 52-week high of $196.04. The firm has a market capitalization of $512.67 billion, a price-to-earnings ratio of 47.68, a price-to-earnings-growth ratio of 3.37 and a beta of 1.02. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72.

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

Oracle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were given a $0.40 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.86%. Oracle’s dividend payout ratio is 41.24%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ORCL. Sanford C. Bernstein lifted their price objective on Oracle from $201.00 to $202.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Melius upgraded shares of Oracle from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. upped their price target on shares of Oracle from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Citigroup boosted their target price on Oracle from $140.00 to $157.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Finally, Evercore ISI boosted their target price on Oracle from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, Oracle presently has an average rating of “Moderate Buy” and an average target price of $169.52.

Oracle Company 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.