Summit Global Investments Trims Holdings in Oracle Co. (NYSE:ORCL)

Summit Global Investments cut its position in shares of Oracle Co. (NYSE:ORCL) by 19.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,058 shares of the enterprise software provider’s stock after selling 499 shares during the quarter. Summit Global Investments’ holdings in Oracle were worth $343,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ORCL. R Squared Ltd acquired a new position in Oracle in the 4th quarter valued at $25,000. Winch Advisory Services LLC grew its position in shares of Oracle by 89.7% in the fourth quarter. Winch Advisory Services LLC now owns 184 shares of the enterprise software provider’s stock valued at $31,000 after purchasing an additional 87 shares during the period. Synergy Investment Management LLC acquired a new position in Oracle in the fourth quarter valued at $34,000. TFC Financial Management Inc. lifted its position in Oracle by 129.0% during the fourth quarter. TFC Financial Management Inc. now owns 213 shares of the enterprise software provider’s stock worth $35,000 after buying an additional 120 shares during the period. Finally, Synergy Asset Management LLC acquired a new stake in Oracle in the 4th quarter worth about $47,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Oracle Price Performance

NYSE ORCL opened at $154.98 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.65. The company has a 50-day moving average price of $164.89 and a two-hundred day moving average price of $170.36. The stock has a market cap of $433.46 billion, a price-to-earnings ratio of 37.89, a price-to-earnings-growth ratio of 3.46 and a beta of 1.07. Oracle Co. has a 52 week low of $112.78 and a 52 week high of $198.31.

Oracle (NYSE:ORCL) last announced its earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.02). Oracle had a net margin of 21.16% and a return on equity of 133.25%. The business had revenue of $14.13 billion for the quarter, compared to the consensus estimate of $14.40 billion. During the same period in the previous year, the firm earned $1.41 EPS. The firm’s revenue was up 6.4% on a year-over-year basis. Analysts forecast that Oracle Co. will post 5 EPS for the current year.

Oracle Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.50 per share. This is a boost from Oracle’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. This represents a $2.00 annualized dividend and a yield of 1.29%. Oracle’s dividend payout ratio (DPR) is presently 46.95%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

ORCL has been the subject of a number of research analyst reports. Monness Crespi & Hardt raised shares of Oracle from a “sell” rating to a “neutral” rating in a research note on Monday, March 3rd. BMO Capital Markets cut their price target on shares of Oracle from $205.00 to $175.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 11th. Piper Sandler decreased their price target on shares of Oracle from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Barclays dropped their price objective on Oracle from $212.00 to $202.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Finally, Mizuho lifted their target price on Oracle from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $179.20.

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.