Berkshire Asset Management LLC PA Has $3.99 Million Stock Holdings in Oracle Co. (NYSE:ORCL)

Berkshire Asset Management LLC PA reduced its position in shares of Oracle Co. (NYSE:ORCL) by 6.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 21,704 shares of the enterprise software provider’s stock after selling 1,424 shares during the period. Berkshire Asset Management LLC PA’s holdings in Oracle were worth $3,985,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Activest Wealth Management lifted its stake in shares of Oracle by 21.9% during the 3rd quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider’s stock valued at $53,000 after buying an additional 56 shares in the last quarter. Second Line Capital LLC raised its stake in Oracle by 1.5% during the third quarter. Second Line Capital LLC now owns 3,816 shares of the enterprise software provider’s stock valued at $650,000 after purchasing an additional 58 shares in the last quarter. Cadence Bank grew its stake in shares of Oracle by 0.8% in the 3rd quarter. Cadence Bank now owns 7,605 shares of the enterprise software provider’s stock worth $1,296,000 after buying an additional 59 shares in the last quarter. Requisite Capital Management LLC raised its position in shares of Oracle by 2.8% during the 4th quarter. Requisite Capital Management LLC now owns 2,240 shares of the enterprise software provider’s stock valued at $373,000 after buying an additional 60 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. grew its position in Oracle by 4.4% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,423 shares of the enterprise software provider’s stock worth $237,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 42.44% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ORCL shares. StockNews.com cut shares of Oracle from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $165.00 price objective on shares of Oracle in a research note on Thursday, December 5th. Evercore ISI boosted their target price on shares of Oracle from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. 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 report on Tuesday, December 10th. Finally, KeyCorp boosted their price objective on shares of Oracle from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Twelve equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Oracle has an average rating of “Moderate Buy” and an average target price of $182.73.

Insider Buying and Selling

In other news, CEO Safra Catz sold 2,101,154 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $185.35, for a total value of $389,448,893.90. Following the completion of the transaction, the chief executive officer now directly owns 1,118,592 shares in the company, valued at approximately $207,331,027.20. This represents a 65.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 42.20% of the company’s stock.

Oracle Stock Performance

Shares of ORCL opened at $150.69 on Friday. Oracle Co. has a 12-month low of $111.18 and a 12-month high of $198.31. 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 company has a 50-day moving average of $167.89 and a two-hundred day moving average of $168.97. The stock has a market cap of $421.48 billion, a P/E ratio of 36.84, a PEG ratio of 3.46 and a beta of 1.07.

Oracle (NYSE:ORCL) last released its quarterly 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). The company had revenue of $14.06 billion during the quarter, compared to analyst estimates of $14.12 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $1.34 earnings per share. As a group, research analysts predict that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

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