MAI Capital Management Sells 8,201 Shares of Oracle Co. (NYSE:ORCL)

MAI Capital Management cut its holdings in shares of Oracle Co. (NYSE:ORCL) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 257,109 shares of the enterprise software provider’s stock after selling 8,201 shares during the quarter. MAI Capital Management’s holdings in Oracle were worth $43,811,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Edgestream Partners L.P. increased its position in Oracle by 91.7% in the first quarter. Edgestream Partners L.P. now owns 13,771 shares of the enterprise software provider’s stock worth $1,730,000 after buying an additional 6,587 shares during the last quarter. Covestor Ltd raised its stake in Oracle by 35.3% in the 1st quarter. Covestor Ltd now owns 1,329 shares of the enterprise software provider’s stock valued at $167,000 after acquiring an additional 347 shares during the period. Safeguard Investment Advisory Group LLC purchased a new stake in Oracle during the first quarter valued at about $221,000. Capitolis Liquid Global Markets LLC purchased a new position in shares of Oracle in the first quarter worth about $21,705,000. Finally, Lake Street Advisors Group LLC raised its position in shares of Oracle by 70.7% in the first quarter. Lake Street Advisors Group LLC now owns 29,537 shares of the enterprise software provider’s stock valued at $3,710,000 after purchasing an additional 12,234 shares during the period. 42.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was 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 $7,076,685. This represents a 12.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 42.20% of the company’s stock.

Oracle Stock Down 1.8 %

Shares of Oracle stock opened at $183.74 on Monday. The company’s fifty day simple moving average is $172.14 and its two-hundred day simple moving average is $147.06. Oracle Co. has a 12-month low of $99.26 and a 12-month high of $191.77. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. The company has a market cap of $509.15 billion, a P/E ratio of 47.36, a PEG ratio of 3.39 and a beta of 1.02.

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

Oracle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were paid a $0.40 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.60 annualized dividend and a yield of 0.87%. Oracle’s payout ratio is 41.24%.

Analyst Ratings Changes

ORCL has been the topic of several recent analyst reports. JMP Securities increased their target price on shares of Oracle from $175.00 to $205.00 and gave the stock a “market outperform” rating in a research note on Friday, October 18th. Piper Sandler raised their target price on shares of Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Guggenheim boosted their price target on shares of Oracle from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. BMO Capital Markets increased their price target 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. Finally, Bank of America lifted their price objective on shares of Oracle from $155.00 to $175.00 and gave the stock a “neutral” rating in a 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. According to data from MarketBeat, Oracle currently has an average rating of “Moderate Buy” and an average target price of $169.52.

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.