Osterweis Capital Management Inc. Sells 248,321 Shares of Oracle Co. (NYSE:ORCL)
Osterweis Capital Management Inc. cut its position in shares of Oracle Co. (NYSE:ORCL – Free Report) by 99.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,845 shares of the enterprise software provider’s stock after selling 248,321 shares during the quarter. Osterweis Capital Management Inc.’s holdings in Oracle were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Horizon Bancorp Inc. IN boosted its holdings in Oracle by 4.5% in the second quarter. Horizon Bancorp Inc. IN now owns 3,878 shares of the enterprise software provider’s stock worth $462,000 after acquiring an additional 166 shares in the last quarter. Trexquant Investment LP bought a new stake in Oracle in the second quarter worth $27,279,000. Resources Investment Advisors LLC. boosted its holdings in Oracle by 34.0% in the first quarter. Resources Investment Advisors LLC. now owns 18,153 shares of the enterprise software provider’s stock worth $1,687,000 after acquiring an additional 4,606 shares in the last quarter. Narus Financial Partners LLC bought a new stake in Oracle in the first quarter worth $327,000. Finally, Kistler Tiffany Companies LLC boosted its holdings in Oracle by 64.2% in the second quarter. Kistler Tiffany Companies LLC now owns 11,548 shares of the enterprise software provider’s stock worth $1,375,000 after acquiring an additional 4,515 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors.
Insider Activity at Oracle
In related news, Director George H. Conrades sold 2,325 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $111.97, for a total transaction of $260,330.25. Following the completion of the transaction, the director now directly owns 20,161 shares of the company’s stock, valued at $2,257,427.17. The sale was disclosed in a filing with the SEC, which is available through this link. 42.80% of the stock is owned by corporate insiders.
Oracle Stock Performance
NYSE ORCL opened at $112.87 on Friday. The firm has a market cap of $309.19 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 2.98 and a beta of 1.05. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 29.72. The business has a 50-day moving average price of $110.21 and a 200-day moving average price of $113.26. Oracle Co. has a twelve month low of $78.53 and a twelve month high of $127.54.
Oracle (NYSE:ORCL – Get Free Report) last released its quarterly earnings data on Monday, September 11th. The enterprise software provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Oracle had a negative return on equity of 3,631.39% and a net margin of 18.40%. The firm had revenue of $12.45 billion during the quarter, compared to analyst estimates of $12.48 billion. During the same quarter in the prior year, the company posted $0.81 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts predict that Oracle Co. will post 4.48 EPS for the current fiscal year.
Oracle Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, October 26th. Investors of record on Thursday, October 12th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Wednesday, October 11th. Oracle’s payout ratio is presently 47.62%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. Morgan Stanley boosted their target price on Oracle from $106.00 to $107.00 and gave the stock an “equal weight” rating in a report on Monday, October 23rd. UBS Group decreased their price target on Oracle from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, September 12th. JPMorgan Chase & Co. cut Oracle from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $112.00 to $100.00 in a research note on Wednesday, September 13th. Piper Sandler restated an “overweight” rating and issued a $130.00 price target on shares of Oracle in a research note on Friday, September 22nd. Finally, Monness Crespi & Hardt cut Oracle from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 12th. Eleven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $124.23.
Check Out Our Latest Stock Analysis on ORCL
Oracle Profile (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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