WealthBridge Investment Counsel Inc. Sells 22,055 Shares of Oracle Corporation $ORCL

WealthBridge Investment Counsel Inc. trimmed its stake in shares of Oracle Corporation (NYSE:ORCL) by 28.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,200 shares of the enterprise software provider’s stock after selling 22,055 shares during the quarter. Oracle makes up about 4.9% of WealthBridge Investment Counsel Inc.’s portfolio, making the stock its 3rd largest holding. WealthBridge Investment Counsel Inc.’s holdings in Oracle were worth $15,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Destiny Wealth Partners LLC bought a new position in shares of Oracle in the 3rd quarter valued at $267,000. Moody National Bank Trust Division increased its holdings in Oracle by 3.2% in the 3rd quarter. Moody National Bank Trust Division now owns 21,438 shares of the enterprise software provider’s stock worth $6,029,000 after purchasing an additional 663 shares in the last quarter. Steph & Co. raised its position in Oracle by 78.7% in the third quarter. Steph & Co. now owns 706 shares of the enterprise software provider’s stock valued at $199,000 after purchasing an additional 311 shares during the last quarter. AssuredPartners Investment Advisors LLC boosted its stake in shares of Oracle by 4.1% during the third quarter. AssuredPartners Investment Advisors LLC now owns 5,311 shares of the enterprise software provider’s stock valued at $1,494,000 after purchasing an additional 211 shares in the last quarter. Finally, Heartwood Wealth Advisors LLC grew its holdings in shares of Oracle by 1.1% during the third quarter. Heartwood Wealth Advisors LLC now owns 4,432 shares of the enterprise software provider’s stock worth $1,246,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 42.44% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ORCL. HSBC reiterated a “buy” rating and issued a $382.00 price objective on shares of Oracle in a report on Wednesday, November 26th. Royal Bank Of Canada dropped their price target on shares of Oracle from $310.00 to $250.00 and set a “sector perform” rating for the company in a research note on Thursday, December 11th. Melius Research boosted their price objective on shares of Oracle from $270.00 to $370.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. TD Cowen decreased their price objective on Oracle from $400.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Finally, Rothschild Redb raised Oracle to a “strong sell” rating in a report on Thursday, September 25th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $302.92.

Oracle Price Performance

ORCL stock opened at $188.52 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 3.28. The firm has a market cap of $541.65 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 1.69 and a beta of 1.66. The company’s fifty day simple moving average is $241.52 and its 200 day simple moving average is $242.25. Oracle Corporation has a 12-month low of $118.86 and a 12-month high of $345.72.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Wednesday, December 10th. The enterprise software provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.62. Oracle had a return on equity of 70.60% and a net margin of 25.28%.The company had revenue of $16.06 billion for the quarter, compared to the consensus estimate of $16.19 billion. During the same period in the previous year, the business earned $1.47 EPS. The firm’s revenue was up 14.2% compared to the same quarter last year. On average, analysts expect that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Friday, January 9th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, January 9th. Oracle’s dividend payout ratio is presently 37.59%.

Insider Activity

In other news, EVP Maria Smith sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $280.62, for a total transaction of $1,403,100.00. Following the completion of the sale, the executive vice president owned 47,083 shares of the company’s stock, valued at $13,212,431.46. This trade represents a 9.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey Berg sold 49,365 shares of Oracle stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $283.02, for a total transaction of $13,971,282.30. Following the completion of the sale, the director owned 151,999 shares of the company’s stock, valued at $43,018,756.98. This represents a 24.52% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 155,190 shares of company stock worth $45,279,001. Company insiders own 40.90% of the company’s stock.

Oracle Company 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.