Cito Capital Group LLC Cuts Stock Position in Oracle Co. (NYSE:ORCL)

Cito Capital Group LLC lessened its holdings in Oracle Co. (NYSE:ORCL) by 26.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 16,825 shares of the enterprise software provider’s stock after selling 6,000 shares during the quarter. Cito Capital Group LLC’s holdings in Oracle were worth $1,466,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. boosted its holdings in shares of Oracle by 5.9% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 28,196 shares of the enterprise software provider’s stock valued at $2,456,000 after purchasing an additional 1,568 shares during the last quarter. German American Bancorp Inc. boosted its holdings in shares of Oracle by 5.1% during the 2nd quarter. German American Bancorp Inc. now owns 87,572 shares of the enterprise software provider’s stock valued at $6,816,000 after purchasing an additional 4,212 shares during the last quarter. ProVise Management Group LLC boosted its holdings in shares of Oracle by 7.0% during the 3rd quarter. ProVise Management Group LLC now owns 26,884 shares of the enterprise software provider’s stock valued at $2,342,000 after purchasing an additional 1,770 shares during the last quarter. Patten & Patten Inc. TN boosted its holdings in shares of Oracle by 1.9% during the 3rd quarter. Patten & Patten Inc. TN now owns 6,581 shares of the enterprise software provider’s stock valued at $573,000 after purchasing an additional 120 shares during the last quarter. Finally, Brighton Jones LLC boosted its holdings in shares of Oracle by 41.7% during the 3rd quarter. Brighton Jones LLC now owns 44,981 shares of the enterprise software provider’s stock valued at $3,919,000 after purchasing an additional 13,234 shares during the last quarter. 42.88% of the stock is owned by institutional investors and hedge funds.

ORCL has been the subject of several research reports. Cowen increased their price objective on shares of Oracle from $96.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, December 10th. Jefferies Financial Group set a $95.00 price objective on shares of Oracle in a report on Monday, December 20th. Monness Crespi & Hardt increased their price target on shares of Oracle from $115.00 to $126.00 and gave the company a “buy” rating in a report on Friday, December 10th. Zacks Investment Research raised shares of Oracle from a “sell” rating to a “hold” rating and set a $99.00 price target for the company in a report on Thursday, November 11th. Finally, Wolfe Research increased their price target on shares of Oracle from $80.00 to $95.00 and gave the company a “market perform” rating in a report on Friday, December 10th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $95.38.

NYSE ORCL traded down $0.56 during trading on Friday, hitting $87.23. The stock had a trading volume of 137,667 shares, compared to its average volume of 9,084,600. The company has a debt-to-equity ratio of 12.77, a quick ratio of 1.65 and a current ratio of 1.65. The stock has a market capitalization of $232.94 billion, a price-to-earnings ratio of 25.45, a P/E/G ratio of 2.56 and a beta of 0.80. Oracle Co. has a one year low of $59.74 and a one year high of $106.34. The stock has a 50 day simple moving average of $92.14 and a 200 day simple moving average of $90.57.

Oracle (NYSE:ORCL) last issued its earnings results on Thursday, December 9th. The enterprise software provider reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.10. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.21 billion. Oracle had a net margin of 24.79% and a return on equity of 1,087.71%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company posted $0.93 earnings per share. On average, sell-side analysts predict that Oracle Co. will post 4.07 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 19th. Stockholders of record on Friday, January 7th will be given 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 is Thursday, January 6th. Oracle’s dividend payout ratio (DPR) is presently 37.10%.

Oracle declared that its Board of Directors has initiated a stock buyback plan on Thursday, December 9th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the enterprise software provider to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Naomi O. Seligman sold 30,000 shares of the firm’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 transaction of $2,678,100.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Dorian Daley sold 20,482 shares of the firm’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 transaction of $1,837,030.58. The disclosure for this sale can be found here. Company insiders own 43.40% of the company’s stock.

About Oracle

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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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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