Portolan Capital Management LLC Reduces Holdings in Oracle Co. (NYSE:ORCL)

by · The Markets Daily

Portolan Capital Management LLC cut its position in shares of Oracle Co. (NYSE:ORCL – Free Report) by 45.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,022 shares of the enterprise software provider’s stock after selling 33,088 shares during the quarter. Portolan Capital Management LLC’s holdings in Oracle were worth $6,649,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Fisher Asset Management LLC boosted its stake in Oracle by 1.8% during the third quarter. Fisher Asset Management LLC now owns 17,898,029 shares of the enterprise software provider’s stock worth $3,049,824,000 after acquiring an additional 310,709 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Oracle by 0.4% during the third quarter. Janus Henderson Group PLC now owns 14,608,951 shares of the enterprise software provider’s stock valued at $2,489,345,000 after purchasing an additional 54,868 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Oracle by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 13,242,340 shares of the enterprise software provider’s stock worth $1,869,816,000 after purchasing an additional 296,866 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Oracle by 6.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,474,912 shares of the enterprise software provider’s stock worth $1,955,325,000 after buying an additional 691,193 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Oracle by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,318,962 shares of the enterprise software provider’s stock valued at $1,033,430,000 after buying an additional 424,500 shares during the last quarter. Institutional investors own 42.44% of the company’s stock.

Oracle Stock Up 0.8 %

Shares of ORCL opened at $182.89 on Wednesday. The business’s 50 day moving average is $178.10 and its 200 day moving average is $152.85. 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 Co. has a 12-month low of $99.26 and a 12-month high of $196.04. The company has a market capitalization of $506.80 billion, a PE ratio of 47.14, a price-to-earnings-growth ratio of 3.34 and a beta of 1.03.

Oracle (NYSE:ORCL – Get Free Report) last released its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.33 by $0.06. The firm had revenue of $13.31 billion for 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%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 earnings per share. Research analysts expect that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

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

Insider Transactions at Oracle

In other Oracle news, EVP Maria Smith sold 6,320 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the completion of the transaction, the executive vice president now owns 42,889 shares in the company, valued at $7,076,685. This trade represents a 12.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 42.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ORCL shares. Mizuho increased their price objective on shares of Oracle from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. BMO Capital Markets raised their price target on shares of Oracle from $160.00 to $173.00 and gave the company a “market perform” rating in a research report on Tuesday, September 10th. Barclays upped their price objective on Oracle from $160.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Sanford C. Bernstein boosted their price target on Oracle from $201.00 to $202.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Finally, Jefferies Financial Group upped 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. 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.com, Oracle presently has an average rating of “Moderate Buy” and a consensus price target of $169.52.

Read Our Latest Stock Report on ORCL

About Oracle

(Free Report)

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.

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