Beta Wealth Group Inc. Sells 299 Shares of Oracle Co. (NYSE:ORCL)

Beta Wealth Group Inc. decreased its holdings in Oracle Co. (NYSE:ORCL) by 4.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,805 shares of the enterprise software provider’s stock after selling 299 shares during the quarter. Beta Wealth Group Inc.’s holdings in Oracle were worth $989,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ORCL. Eagle Rock Investment Company LLC increased its holdings in shares of Oracle by 0.4% during the third quarter. Eagle Rock Investment Company LLC now owns 17,626 shares of the enterprise software provider’s stock valued at $3,003,000 after acquiring an additional 64 shares in the last quarter. W Advisors LLC increased its stake in Oracle by 3.1% during the 3rd quarter. W Advisors LLC now owns 2,158 shares of the enterprise software provider’s stock valued at $368,000 after purchasing an additional 64 shares in the last quarter. Versant Capital Management Inc raised its holdings in Oracle by 1.7% during the third quarter. Versant Capital Management Inc now owns 3,957 shares of the enterprise software provider’s stock worth $674,000 after buying an additional 65 shares during the last quarter. Oak Ridge Investments LLC lifted its stake in shares of Oracle by 3.9% in the third quarter. Oak Ridge Investments LLC now owns 1,730 shares of the enterprise software provider’s stock valued at $295,000 after buying an additional 65 shares in the last quarter. Finally, Trust Point Inc. increased its position in shares of Oracle by 0.5% during the third quarter. Trust Point Inc. now owns 13,606 shares of the enterprise software provider’s stock worth $2,318,000 after acquiring an additional 66 shares in the last quarter. 42.44% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction that occurred 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 directly owns 42,889 shares of the company’s stock, valued at $7,076,685. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 42.20% of the company’s stock.

Oracle Price Performance

ORCL stock opened at $189.29 on Friday. The firm has a 50 day moving average of $167.47 and a 200-day moving average of $144.10. The firm has a market capitalization of $524.53 billion, a P/E ratio of 48.79, a price-to-earnings-growth ratio of 3.34 and a beta of 1.02. Oracle Co. has a 12 month low of $99.26 and a 12 month high of $190.16. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68.

Oracle (NYSE:ORCL) last announced its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.33 by $0.06. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The firm had revenue of $13.31 billion during the quarter, compared to the consensus estimate of $13.23 billion. During the same period last year, the firm earned $0.95 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts predict that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.85%. Oracle’s payout ratio is currently 41.24%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ORCL shares. Piper Sandler lifted their target price on Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. BMO Capital Markets lifted their price objective on shares of Oracle from $160.00 to $173.00 and gave the stock a “market perform” rating in a report on Tuesday, September 10th. Evercore ISI increased their target price on shares of Oracle from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Stifel Nicolaus upped their price objective on shares of Oracle from $135.00 to $155.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Finally, Sanford C. Bernstein lifted their target price on shares of Oracle from $201.00 to $202.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Eleven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $168.52.

Oracle 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.