Oracle Co. (NYSE:ORCL) Stock Position Trimmed by Kanawha Capital Management LLC

Kanawha Capital Management LLC lessened its holdings in Oracle Co. (NYSE:ORCL) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 202,256 shares of the enterprise software provider’s stock after selling 3,107 shares during the quarter. Oracle accounts for about 2.5% of Kanawha Capital Management LLC’s holdings, making the stock its 4th biggest position. Kanawha Capital Management LLC’s holdings in Oracle were worth $34,464,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. TrueWealth Advisors LLC boosted its stake in shares of Oracle by 20.6% during the 3rd quarter. TrueWealth Advisors LLC now owns 4,509 shares of the enterprise software provider’s stock worth $768,000 after acquiring an additional 771 shares in the last quarter. RWQ Financial Management Services Inc. acquired a new position in shares of Oracle during the 3rd quarter worth approximately $3,568,000. Fort Pitt Capital Group LLC raised its position in shares of Oracle by 2.8% during the 3rd quarter. Fort Pitt Capital Group LLC now owns 126,142 shares of the enterprise software provider’s stock worth $21,495,000 after purchasing an additional 3,490 shares during the last quarter. Latitude Advisors LLC raised its position in shares of Oracle by 2.9% during the 3rd quarter. Latitude Advisors LLC now owns 2,539 shares of the enterprise software provider’s stock worth $433,000 after purchasing an additional 72 shares during the last quarter. Finally, Pure Financial Advisors LLC raised its position in shares of Oracle by 1.3% during the 3rd quarter. Pure Financial Advisors LLC now owns 11,758 shares of the enterprise software provider’s stock worth $2,004,000 after purchasing an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ORCL. KeyCorp boosted their price target on Oracle from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Piper Sandler boosted their price target on Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Jefferies Financial Group boosted their price target on Oracle from $170.00 to $190.00 and gave the company a “buy” rating in a report on Monday, September 16th. Sanford C. Bernstein upped their price objective on Oracle from $201.00 to $202.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Finally, StockNews.com downgraded Oracle from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Twelve analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $168.52.

Insider Activity

In other news, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $7,076,685. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 42.20% of the company’s stock.

Oracle Stock Performance

NYSE:ORCL opened at $170.02 on Monday. The stock has a market cap of $471.14 billion, a P/E ratio of 43.82, a PEG ratio of 3.09 and a beta of 1.02. The firm has a 50-day moving average of $163.43 and a two-hundred day moving average of $142.24. 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 Co. has a 1-year low of $99.26 and a 1-year high of $178.61.

Oracle (NYSE:ORCL) last issued its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. The business had revenue of $13.31 billion for the quarter, compared to analyst estimates of $13.23 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 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 EPS. On average, research analysts expect that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.94%. Oracle’s dividend payout ratio (DPR) is presently 41.24%.

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.