Oracle Corporation $ORCL Holdings Reduced by Sonora Investment Management Group LLC

Sonora Investment Management Group LLC reduced its stake in shares of Oracle Corporation (NYSE:ORCL) by 1.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 182,166 shares of the enterprise software provider’s stock after selling 3,292 shares during the period. Oracle makes up approximately 3.6% of Sonora Investment Management Group LLC’s portfolio, making the stock its 3rd biggest holding. Sonora Investment Management Group LLC’s holdings in Oracle were worth $51,232,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Winnow Wealth LLC acquired a new stake in Oracle during the second quarter worth about $28,000. Kilter Group LLC purchased a new stake in Oracle in the 2nd quarter worth approximately $30,000. LGT Financial Advisors LLC acquired a new stake in shares of Oracle during the 2nd quarter worth approximately $33,000. Legend Financial Advisors Inc. acquired a new stake in shares of Oracle during the 2nd quarter worth approximately $34,000. Finally, HighMark Wealth Management LLC purchased a new position in shares of Oracle during the 2nd quarter valued at approximately $38,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Oracle Trading Down 5.4%

ORCL stock opened at $178.46 on Thursday. Oracle Corporation has a 12-month low of $118.86 and a 12-month high of $345.72. The business’s 50-day moving average is $239.32 and its 200 day moving average is $241.81. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 3.28. The stock has a market cap of $512.74 billion, a price-to-earnings ratio of 33.55, a PEG ratio of 1.70 and a beta of 1.66.

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

Oracle Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on ORCL. Guggenheim restated a “buy” rating and set a $400.00 price target on shares of Oracle in a research report on Thursday, December 11th. BNP Paribas set a $377.00 target price on shares of Oracle in a research note on Wednesday, September 10th. Cantor Fitzgerald cut their price target on Oracle from $400.00 to $320.00 and set an “overweight” rating for the company in a research note on Thursday, December 11th. Robert W. Baird reduced their price target on Oracle from $365.00 to $315.00 and set an “outperform” rating for the company in a report on Tuesday, November 18th. Finally, Wolfe Research raised their price objective on Oracle from $300.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Oracle currently has an average rating of “Moderate Buy” and a consensus price target of $302.92.

Insider Buying and Selling at Oracle

In other news, EVP Stuart Levey sold 19,758 shares of the stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $300.00, for a total value of $5,927,400.00. Following the completion of the sale, the executive vice president directly owned 18,429 shares in the company, valued at $5,528,700. This represents a 51.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey Berg sold 49,365 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $283.02, for a total transaction of $13,971,282.30. Following the completion of the transaction, the director directly owned 151,999 shares in the company, valued at approximately $43,018,756.98. This represents a 24.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 155,190 shares of company stock valued at $45,279,001. 40.90% of the stock is owned by company insiders.

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.