Chase Investment Counsel Corp Sells 326 Shares of Oracle Co. (NYSE:ORCL)

Chase Investment Counsel Corp decreased its holdings in shares of Oracle Co. (NYSE:ORCL) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,092 shares of the enterprise software provider’s stock after selling 326 shares during the quarter. Chase Investment Counsel Corp’s holdings in Oracle were worth $4,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Activest Wealth Management raised its holdings in Oracle by 21.9% during the 3rd quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider’s stock valued at $53,000 after acquiring an additional 56 shares during the period. Second Line Capital LLC increased its holdings in shares of Oracle by 1.5% in the third quarter. Second Line Capital LLC now owns 3,816 shares of the enterprise software provider’s stock worth $650,000 after purchasing an additional 58 shares during the period. Cadence Bank increased its stake in Oracle by 0.8% in the third quarter. Cadence Bank now owns 7,605 shares of the enterprise software provider’s stock valued at $1,296,000 after acquiring an additional 59 shares during the last quarter. Requisite Capital Management LLC increased its stake in Oracle by 2.8% in the fourth quarter. Requisite Capital Management LLC now owns 2,240 shares of the enterprise software provider’s stock valued at $373,000 after acquiring an additional 60 shares during the last quarter. Finally, McLean Asset Management Corp increased its stake in Oracle by 1.1% in the fourth quarter. McLean Asset Management Corp now owns 5,447 shares of the enterprise software provider’s stock valued at $908,000 after acquiring an additional 61 shares during the last quarter. Institutional investors own 42.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ORCL shares. KeyCorp increased their target price on Oracle from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. StockNews.com cut Oracle from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Monness Crespi & Hardt lowered shares of Oracle from a “neutral” rating to a “sell” rating and set a $130.00 price target for the company. in a research report on Friday, December 20th. Morgan Stanley upped their price target on shares of Oracle from $145.00 to $175.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler upped their price target on shares of Oracle from $185.00 to $210.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Oracle presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.73.

Oracle Stock Performance

Shares of ORCL opened at $166.09 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. The business’s 50 day moving average price is $168.93 and its 200-day moving average price is $168.36. Oracle Co. has a 52 week low of $110.36 and a 52 week high of $198.31. The stock has a market cap of $464.55 billion, a P/E ratio of 40.61, a P/E/G ratio of 3.46 and a beta of 1.05.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Monday, December 9th. The enterprise software provider reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.01). Oracle had a return on equity of 133.25% and a net margin of 21.16%. The company had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $14.12 billion. During the same period in the prior year, the firm earned $1.34 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, January 23rd were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.60 dividend on an annualized basis and a yield of 0.96%. Oracle’s payout ratio is currently 39.12%.

Insider Buying and Selling

In related news, CEO Safra Catz sold 2,101,154 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $185.35, for a total value of $389,448,893.90. Following the completion of the transaction, the chief executive officer now directly owns 1,118,592 shares in the company, valued at $207,331,027.20. The trade was a 65.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 42.20% of the stock is owned by company insiders.

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.