ICICI Prudential Asset Management Co Ltd Increases Holdings in Oracle Co. (NYSE:ORCL)

ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Oracle Co. (NYSE:ORCL) by 32.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 75,891 shares of the enterprise software provider’s stock after acquiring an additional 18,700 shares during the period. Oracle accounts for approximately 1.4% of ICICI Prudential Asset Management Co Ltd’s investment portfolio, making the stock its 13th biggest holding. ICICI Prudential Asset Management Co Ltd’s holdings in Oracle were worth $12,932,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ORCL. Fairway Wealth LLC purchased a new position in Oracle during the 2nd quarter worth approximately $27,000. POM Investment Strategies LLC purchased a new stake in Oracle in the 2nd quarter valued at $30,000. Bbjs Financial Advisors LLC purchased a new position in Oracle during the 2nd quarter worth $35,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of Oracle in the first quarter valued at about $38,000. Finally, Quest Partners LLC purchased a new position in shares of Oracle during the second quarter worth about $40,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Oracle Stock Up 0.2 %

NYSE ORCL traded up $0.41 on Wednesday, hitting $189.99. 902,225 shares of the stock traded hands, compared to its average volume of 8,233,065. The company has a market capitalization of $526.47 billion, a P/E ratio of 48.97, a price-to-earnings-growth ratio of 3.49 and a beta of 1.02. The stock has a 50-day moving average of $169.43 and a 200 day moving average of $145.54. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. Oracle Co. has a twelve month low of $99.26 and a twelve month high of $191.50.

Oracle (NYSE:ORCL) last issued its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (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 firm 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 posted $0.95 earnings per share. Oracle’s revenue was up 6.9% on a year-over-year basis. As a group, analysts expect that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.60 annualized dividend and a yield of 0.84%. Oracle’s dividend payout ratio (DPR) is 41.24%.

Insider Activity

In other news, EVP Maria Smith sold 6,320 shares of the stock in a transaction on 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 owns 42,889 shares in the company, valued at $7,076,685. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 42.20% of the company’s stock.

Analyst Upgrades and Downgrades

ORCL has been the subject of a number of analyst reports. Sanford C. Bernstein increased their target price on Oracle from $201.00 to $202.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. KeyCorp raised their price objective on shares of Oracle from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Melius Research raised shares of Oracle from a “hold” rating to a “buy” rating in a report on Monday, September 16th. Melius raised Oracle from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Oracle from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Eleven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, Oracle has a consensus rating of “Moderate Buy” and a consensus price target of $168.52.

Oracle 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.