Destination Wealth Management Increases Stake in Oracle Co. (NYSE:ORCL)

Destination Wealth Management boosted its position in shares of Oracle Co. (NYSE:ORCL) by 4.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,536 shares of the enterprise software provider’s stock after acquiring an additional 295 shares during the period. Destination Wealth Management’s holdings in Oracle were worth $1,089,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ORCL. R Squared Ltd acquired a new position in Oracle during the 4th quarter worth approximately $25,000. Winch Advisory Services LLC grew its holdings in Oracle by 89.7% during the 4th quarter. Winch Advisory Services LLC now owns 184 shares of the enterprise software provider’s stock worth $31,000 after acquiring an additional 87 shares in the last quarter. Synergy Investment Management LLC acquired a new position in Oracle during the 4th quarter worth approximately $34,000. TFC Financial Management Inc. grew its holdings in Oracle by 129.0% during the 4th quarter. TFC Financial Management Inc. now owns 213 shares of the enterprise software provider’s stock worth $35,000 after acquiring an additional 120 shares in the last quarter. Finally, Synergy Asset Management LLC acquired a new position in Oracle during the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Oracle Stock Performance

Shares of ORCL opened at $150.69 on Friday. The company has a 50-day simple moving average of $167.89 and a 200-day simple moving average of $168.97. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. The company has a market capitalization of $421.48 billion, a PE ratio of 36.84, a P/E/G ratio of 3.46 and a beta of 1.07. Oracle Co. has a 52-week low of $111.18 and a 52-week high of $198.31.

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

Oracle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, January 23rd were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.06%. Oracle’s dividend payout ratio is presently 39.12%.

Insider Buying and Selling at Oracle

In other Oracle news, CEO Safra Catz sold 345,174 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $185.56, for a total transaction of $64,050,487.44. Following the completion of the transaction, the chief executive officer now directly owns 1,118,592 shares in the company, valued at approximately $207,565,931.52. This trade represents a 23.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 42.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on ORCL shares. KeyCorp boosted their price target on shares of Oracle from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Cantor Fitzgerald cut shares of Oracle to an “overweight” rating in a report on Monday, February 10th. Monness Crespi & Hardt upgraded shares of Oracle from a “sell” rating to a “neutral” rating in a report on Monday. DA Davidson upped their target price on shares of Oracle from $140.00 to $150.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, BNP Paribas upgraded shares of Oracle to a “strong-buy” rating in a report on Tuesday, December 10th. Twelve investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average 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.