Asset Dedication LLC Cuts Stock Position in Oracle Co. (NYSE:ORCL)

Asset Dedication LLC lessened its holdings in Oracle Co. (NYSE:ORCL) by 11.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,016 shares of the enterprise software provider’s stock after selling 5,569 shares during the quarter. Asset Dedication LLC’s holdings in Oracle were worth $7,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Scarborough Advisors LLC purchased a new stake in Oracle in the fourth quarter worth $65,000. Insight Wealth Strategies LLC raised its stake in Oracle by 5.0% in the 1st quarter. Insight Wealth Strategies LLC now owns 13,586 shares of the enterprise software provider’s stock valued at $1,707,000 after acquiring an additional 651 shares during the period. Ferguson Wellman Capital Management Inc. lifted its holdings in Oracle by 4.8% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 4,359 shares of the enterprise software provider’s stock valued at $548,000 after purchasing an additional 198 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Oracle by 76.4% during the first quarter. Massmutual Trust Co. FSB ADV now owns 12,838 shares of the enterprise software provider’s stock valued at $1,613,000 after purchasing an additional 5,560 shares during the last quarter. Finally, Farmers Trust Co. boosted its position in Oracle by 2.8% during the first quarter. Farmers Trust Co. now owns 19,479 shares of the enterprise software provider’s stock worth $2,447,000 after purchasing an additional 522 shares during the period. 42.44% of the stock is currently owned by institutional investors.

Oracle Stock Down 1.1 %

Shares of NYSE ORCL opened at $174.10 on Wednesday. The stock has a market capitalization of $479.80 billion, a P/E ratio of 46.93, a PEG ratio of 3.29 and a beta of 1.01. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72. Oracle Co. has a one year low of $99.26 and a one year high of $178.61. The firm’s 50 day simple moving average is $153.52 and its two-hundred day simple moving average is $137.62.

Oracle (NYSE:ORCL) last issued its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company had revenue of $13.31 billion for the quarter, compared to analysts’ expectations of $13.23 billion. During the same quarter last year, the company earned $0.95 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. As a group, analysts expect that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.60 annualized dividend and a yield of 0.92%. Oracle’s payout ratio is 43.13%.

Wall Street Analyst Weigh In

A number of analysts recently commented on ORCL shares. Stifel Nicolaus upped their price target on shares of Oracle from $135.00 to $155.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. KeyCorp increased their target price on Oracle from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Bank of America lifted their price target on Oracle from $155.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Melius Research raised Oracle from a “hold” rating to a “buy” rating in a report on Monday, September 16th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Oracle in a report on Tuesday, September 10th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $167.42.

Insiders Place Their Bets

In other news, Director Leon E. Panetta sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $137.89, for a total value of $2,068,350.00. Following the transaction, the director now owns 58,090 shares in the company, valued at approximately $8,010,030.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Leon E. Panetta sold 15,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $137.89, for a total transaction of $2,068,350.00. Following the completion of the transaction, the director now directly owns 58,090 shares of the company’s stock, valued at approximately $8,010,030.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the sale, the executive vice president now directly owns 42,889 shares in the company, valued at $7,076,685. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 42.80% of the company’s stock.

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.