Spinnaker Trust Sells 248 Shares of Oracle Co. (NYSE:ORCL)

Spinnaker Trust trimmed its holdings in shares of Oracle Co. (NYSE:ORCL) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,662 shares of the enterprise software provider’s stock after selling 248 shares during the quarter. Spinnaker Trust’s holdings in Oracle were worth $2,110,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. R Squared Ltd bought a new position in Oracle in the 4th quarter valued at about $25,000. Winch Advisory Services LLC increased its holdings in Oracle by 89.7% in the 4th quarter. Winch Advisory Services LLC now owns 184 shares of the enterprise software provider’s stock valued at $31,000 after buying an additional 87 shares during the period. TFC Financial Management Inc. increased its holdings in Oracle by 129.0% in the 4th quarter. TFC Financial Management Inc. now owns 213 shares of the enterprise software provider’s stock valued at $35,000 after buying an additional 120 shares during the period. Reston Wealth Management LLC bought a new position in Oracle in the 3rd quarter valued at about $44,000. Finally, Synergy Asset Management LLC bought a new position in Oracle in the 4th quarter valued at about $47,000. 42.44% of the stock is owned by institutional investors.

Oracle Stock Down 0.2 %

ORCL stock opened at $173.50 on Friday. The business’s 50-day moving average price is $169.69 and its 200-day moving average price is $165.35. Oracle Co. has a twelve month low of $106.51 and a twelve month high of $198.31. The stock has a market cap of $485.27 billion, a P/E ratio of 42.42, a PEG ratio of 3.39 and a beta of 1.05. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65.

Oracle (NYSE:ORCL) last released its earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.01). Oracle had a return on equity of 133.25% and a net margin of 21.16%. The business had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $14.12 billion. During the same quarter in the previous year, the business earned $1.34 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts forecast that Oracle Co. will post 5 EPS for the current year.

Oracle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, January 23rd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Friday, January 10th. Oracle’s payout ratio is 39.12%.

Insider Transactions at Oracle

In other news, CEO Safra Catz sold 345,174 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $185.56, for a total transaction of $64,050,487.44. Following the transaction, the chief executive officer now owns 1,118,592 shares of the company’s stock, valued at approximately $207,565,931.52. This represents a 23.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 42.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $165.00 price target on shares of Oracle in a research note on Thursday, December 5th. Morgan Stanley raised their price target on shares of Oracle from $145.00 to $175.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 10th. Evercore ISI raised their price target on shares of Oracle from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Monness Crespi & Hardt downgraded shares of Oracle from a “neutral” rating to a “sell” rating and set a $130.00 price target on the stock. in a research note on Friday, December 20th. Finally, Piper Sandler raised their price target on shares of Oracle from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $182.73.

Oracle 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.