Pittenger & Anderson Inc. Cuts Stake in Oracle Co. (NYSE:ORCL)

Pittenger & Anderson Inc. trimmed its position in shares of Oracle Co. (NYSE:ORCL) by 25.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,415 shares of the enterprise software provider’s stock after selling 830 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Oracle were worth $255,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ORCL. Wellington Management Group LLP grew its position in Oracle by 9,299.3% during the 3rd quarter. Wellington Management Group LLP now owns 8,170,999 shares of the enterprise software provider’s stock valued at $865,472,000 after purchasing an additional 8,084,067 shares during the last quarter. Vanguard Group Inc. grew its position in Oracle by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 147,273,413 shares of the enterprise software provider’s stock valued at $15,599,200,000 after purchasing an additional 7,883,515 shares during the last quarter. DNB Asset Management AS grew its position in Oracle by 313.4% during the 4th quarter. DNB Asset Management AS now owns 1,766,621 shares of the enterprise software provider’s stock valued at $186,255,000 after purchasing an additional 1,339,311 shares during the last quarter. International Assets Investment Management LLC grew its position in Oracle by 26,602.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,259,550 shares of the enterprise software provider’s stock valued at $132,794,000 after purchasing an additional 1,254,833 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Oracle by 35.2% during the 3rd quarter. Mackenzie Financial Corp now owns 3,168,969 shares of the enterprise software provider’s stock valued at $331,221,000 after acquiring an additional 825,030 shares during the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Oracle

In related news, CEO Safra Catz sold 790,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $126.54, for a total transaction of $99,966,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,118,592 shares of the company’s stock, valued at $141,546,631.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 42.80% of the stock is currently owned by corporate insiders.

Oracle Price Performance

Shares of NYSE ORCL traded down $0.45 during midday trading on Thursday, reaching $114.89. The stock had a trading volume of 6,553,908 shares, compared to its average volume of 8,476,491. The stock has a 50-day moving average of $119.26 and a 200-day moving average of $113.05. The company has a debt-to-equity ratio of 13.34, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $315.78 billion, a price-to-earnings ratio of 30.45, a price-to-earnings-growth ratio of 2.31 and a beta of 1.01. Oracle Co. has a 12-month low of $93.29 and a 12-month high of $132.77.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Monday, March 11th. The enterprise software provider reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.04. The firm had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $13.29 billion. Oracle had a net margin of 20.27% and a return on equity of 336.11%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 earnings per share. As a group, research analysts anticipate that Oracle Co. will post 4.44 EPS for the current fiscal year.

Oracle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.60 annualized dividend and a yield of 1.39%. Oracle’s payout ratio is 42.22%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. BMO Capital Markets raised their price target on shares of Oracle from $126.00 to $142.00 and gave the company a “market perform” rating in a report on Tuesday, March 12th. Piper Sandler dropped their price target on shares of Oracle from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, January 2nd. HSBC raised their price target on shares of Oracle from $144.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Oppenheimer assumed coverage on shares of Oracle in a report on Thursday, April 18th. They set a “market perform” rating on the stock. Finally, William Blair raised shares of Oracle from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 12th. Ten investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $130.76.

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.