Lazard Asset Management LLC Buys 89,066 Shares of Oracle Co. (NYSE:ORCL)

Lazard Asset Management LLC lifted its holdings in Oracle Co. (NYSE:ORCL) by 43.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 292,805 shares of the enterprise software provider’s stock after buying an additional 89,066 shares during the period. Lazard Asset Management LLC’s holdings in Oracle were worth $48,792,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Lighthouse Investment Partners LLC increased its holdings in shares of Oracle by 22.8% in the 4th quarter. Lighthouse Investment Partners LLC now owns 14,740 shares of the enterprise software provider’s stock worth $2,456,000 after buying an additional 2,740 shares during the last quarter. Interval Partners LP bought a new position in Oracle during the 4th quarter valued at about $2,336,000. Investment Management Corp of Ontario grew its holdings in Oracle by 50.6% during the 4th quarter. Investment Management Corp of Ontario now owns 82,733 shares of the enterprise software provider’s stock valued at $13,787,000 after purchasing an additional 27,789 shares during the last quarter. Investor s Fiduciary Advisor Network LLC bought a new position in Oracle during the 4th quarter valued at about $458,000. Finally, KKM Financial LLC grew its holdings in Oracle by 4.7% during the 4th quarter. KKM Financial LLC now owns 24,000 shares of the enterprise software provider’s stock valued at $3,999,000 after purchasing an additional 1,076 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors.

Oracle Stock Performance

Shares of ORCL stock opened at $157.18 on Tuesday. The business’s fifty day simple moving average is $142.02 and its 200-day simple moving average is $162.76. The company has a market cap of $439.62 billion, a PE ratio of 38.43, a PEG ratio of 3.46 and a beta of 1.27. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.65. Oracle Co. has a 12-month low of $114.55 and a 12-month high of $198.31.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.02). The business had revenue of $14.13 billion for the quarter, compared to analyst estimates of $14.40 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 earnings per share. Analysts expect that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 10th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, April 10th. This is an increase from Oracle’s previous quarterly dividend of $0.40. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.27%. Oracle’s dividend payout ratio is presently 46.95%.

Insider Transactions at Oracle

In related news, Director Leon E. Panetta sold 17,500 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $151.24, for a total value of $2,646,700.00. Following the transaction, the director now directly owns 58,090 shares of the company’s stock, valued at $8,785,531.60. This represents a 23.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Naomi O. Seligman sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $145.81, for a total value of $291,620.00. Following the completion of the transaction, the director now directly owns 34,630 shares in the company, valued at approximately $5,049,400.30. The trade was a 5.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,366 shares of company stock valued at $4,015,723. Corporate insiders own 42.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ORCL shares. Mizuho cut their price target on shares of Oracle from $210.00 to $180.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Westpark Capital started coverage on shares of Oracle in a research report on Tuesday, April 1st. They issued a “buy” rating and a $195.00 price objective for the company. StockNews.com cut shares of Oracle from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Monness Crespi & Hardt raised shares of Oracle from a “sell” rating to a “neutral” rating in a research report on Monday, March 3rd. Finally, BMO Capital Markets lowered their price objective on shares of Oracle from $205.00 to $175.00 and set a “market perform” rating for the company in a research report on Tuesday, March 11th. Fourteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $174.42.

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.