CIBC Asset Management Inc Boosts Stock Position in Oracle Co. (NYSE:ORCL)

CIBC Asset Management Inc grew its stake in Oracle Co. (NYSE:ORCL) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 280,514 shares of the enterprise software provider’s stock after purchasing an additional 13,424 shares during the period. CIBC Asset Management Inc’s holdings in Oracle were worth $46,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Wealth Group Ltd. acquired a new position in Oracle during the third quarter worth $222,000. Creative Planning lifted its stake in Oracle by 4.1% during the third quarter. Creative Planning now owns 774,912 shares of the enterprise software provider’s stock worth $132,045,000 after purchasing an additional 30,341 shares in the last quarter. Howard Capital Management Group LLC lifted its stake in Oracle by 12.4% during the third quarter. Howard Capital Management Group LLC now owns 8,019 shares of the enterprise software provider’s stock worth $1,366,000 after purchasing an additional 883 shares in the last quarter. Stratos Wealth Advisors LLC lifted its stake in Oracle by 3.6% during the third quarter. Stratos Wealth Advisors LLC now owns 11,250 shares of the enterprise software provider’s stock worth $1,917,000 after purchasing an additional 396 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. lifted its stake in Oracle by 47.1% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 7,094 shares of the enterprise software provider’s stock worth $1,209,000 after purchasing an additional 2,273 shares in the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 value of $64,050,487.44. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 42.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ORCL has been the topic of several analyst reports. Morgan Stanley increased their price objective on Oracle from $145.00 to $175.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 10th. Mizuho increased their price objective on Oracle from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Guggenheim increased their price objective on Oracle from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. BMO Capital Markets increased their price objective on Oracle from $173.00 to $205.00 and gave the company a “market perform” rating in a research note on Tuesday, December 10th. Finally, Monness Crespi & Hardt lowered Oracle from a “neutral” rating to a “sell” rating and set a $130.00 target price on the stock. in a report on Friday, December 20th. 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 assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $182.73.

Oracle Stock Performance

ORCL stock opened at $173.50 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.65. The firm has a market cap of $485.27 billion, a P/E ratio of 42.42, a P/E/G ratio of 3.39 and a beta of 1.05. Oracle Co. has a 12-month low of $106.51 and a 12-month high of $198.31. The stock’s 50 day simple moving average is $169.33 and its 200 day simple moving average is $165.99.

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

Oracle Dividend Announcement

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

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.