Pictet & Cie Europe SA trimmed its holdings in shares of Oracle Co. (NYSE:ORCL) by 95.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,433 shares of the enterprise software provider’s stock after selling 73,816 shares during the period. Pictet & Cie Europe SA’s holdings in Oracle were worth $299,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Marathon Asset Mgmt Ltd purchased a new position in Oracle during the third quarter worth about $331,932,000. Putnam Investments LLC raised its stake in Oracle by 375.9% in the 2nd quarter. Putnam Investments LLC now owns 4,436,858 shares of the enterprise software provider’s stock valued at $345,365,000 after purchasing an additional 3,504,629 shares during the last quarter. Amundi purchased a new stake in Oracle in the 2nd quarter valued at about $271,849,000. Liberty Wealth Management LLC lifted its position in Oracle by 17,204.4% during the 2nd quarter. Liberty Wealth Management LLC now owns 1,745,320 shares of the enterprise software provider’s stock worth $22,422,000 after acquiring an additional 1,735,234 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Oracle by 39,163.6% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,562,690 shares of the enterprise software provider’s stock valued at $121,640,000 after acquiring an additional 1,558,710 shares in the last quarter. Hedge funds and other institutional investors own 42.88% of the company’s stock.
Shares of ORCL stock opened at $87.35 on Friday. The firm has a 50-day moving average price of $92.14 and a 200 day moving average price of $90.57. Oracle Co. has a twelve month low of $59.74 and a twelve month high of $106.34. The company has a market capitalization of $233.26 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 2.56 and a beta of 0.80. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 12.77.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 19th. Stockholders of record on Friday, January 7th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, January 6th. Oracle’s payout ratio is currently 37.10%.
Oracle announced that its board has initiated a stock buyback plan on Thursday, December 9th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the enterprise software provider to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
A number of research firms have recently weighed in on ORCL. Barclays raised their price target on Oracle from $87.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Friday, December 10th. Credit Suisse Group set a $115.00 price target on Oracle in a research report on Wednesday, December 29th. Piper Sandler increased their price target on Oracle from $80.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, December 10th. Stifel Nicolaus raised their target price on Oracle from $77.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, December 10th. Finally, Jefferies Financial Group set a $95.00 price objective on shares of Oracle in a research note on Monday, December 20th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Oracle has an average rating of “Hold” and an average target price of $95.38.
In other Oracle news, EVP Dorian Daley sold 20,482 shares of the company’s stock in a transaction that occurred on Thursday, December 23rd. The stock was sold at an average price of $89.69, for a total value of $1,837,030.58. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Naomi O. Seligman sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, December 27th. The shares were sold at an average price of $89.27, for a total value of $2,678,100.00. The disclosure for this sale can be found here. 43.40% of the stock is owned by corporate insiders.
Oracle Corp. engages in the provision of products and services that address all aspects of corporate information technology environments. It operates through the following business segments: Cloud and License, Hardware, and Services. The Cloud and License segment markets, sells, and delivers applications, platform, and infrastructure technologies.
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