Washington Trust Bank Reduces Stock Position in Oracle Co. (NYSE:ORCL)

Washington Trust Bank trimmed its holdings in shares of Oracle Co. (NYSE:ORCL) by 9.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,490 shares of the enterprise software provider’s stock after selling 1,726 shares during the quarter. Washington Trust Bank’s holdings in Oracle were worth $2,915,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new position in Oracle during the fourth quarter worth $25,000. Winch Advisory Services LLC lifted its holdings in shares of Oracle by 89.7% in 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 during the last quarter. Synergy Investment Management LLC purchased a new position in shares of Oracle during the 4th quarter worth about $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 valued at $35,000 after purchasing an additional 120 shares during the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in Oracle in the 4th quarter worth about $47,000. Institutional investors own 42.44% of the company’s stock.

Oracle Stock Up 0.1 %

Shares of Oracle stock opened at $152.83 on Friday. Oracle Co. has a 52-week low of $112.78 and a 52-week high of $198.31. The firm’s 50 day moving average price is $164.87 and its 200-day moving average price is $169.85. 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 cap of $427.45 billion, a P/E ratio of 37.37, a PEG ratio of 3.46 and a beta of 1.07.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.02). The firm had revenue of $14.13 billion during the quarter, compared to analysts’ expectations of $14.40 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. Oracle’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.41 earnings per share. On average, sell-side analysts predict that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.31%. This is an increase from Oracle’s previous quarterly dividend of $0.40. Oracle’s dividend payout ratio is 46.95%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ORCL shares. BNP Paribas raised Oracle to a “strong-buy” rating in a research note on Tuesday, December 10th. Jefferies Financial Group upped their price objective on Oracle from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Stephens started coverage on Oracle in a research note on Wednesday. They issued an “equal weight” rating and a $167.00 target price on the stock. Stifel Nicolaus lowered their target price on shares of Oracle from $175.00 to $150.00 and set a “hold” rating for the company in a research note on Tuesday, March 11th. Finally, Piper Sandler reduced their price target on shares of Oracle from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Oracle currently has a consensus rating of “Moderate Buy” and an average price target of $179.20.

Insider Activity at Oracle

In related news, CEO Safra Catz sold 2,101,154 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $185.35, for a total value of $389,448,893.90. Following the transaction, the chief executive officer now directly owns 1,118,592 shares of the company’s stock, valued at $207,331,027.20. This represents a 65.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 42.20% of the stock is currently owned by insiders.

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.