Avidian Wealth Enterprises LLC Cuts Stock Position in Oracle Co. (NYSE:ORCL)

Avidian Wealth Enterprises LLC trimmed its holdings in Oracle Co. (NYSE:ORCL) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,008 shares of the enterprise software provider’s stock after selling 690 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Oracle were worth $2,001,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Activest Wealth Management boosted its stake in Oracle by 21.9% in the 3rd quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider’s stock worth $53,000 after purchasing an additional 56 shares in the last quarter. Second Line Capital LLC raised its holdings in shares of Oracle by 1.5% in the third quarter. Second Line Capital LLC now owns 3,816 shares of the enterprise software provider’s stock worth $650,000 after buying an additional 58 shares during the last quarter. Cadence Bank lifted its stake in shares of Oracle by 0.8% during the third 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 during the period. Requisite Capital Management LLC lifted its stake in shares of Oracle by 2.8% during the fourth quarter. Requisite Capital Management LLC now owns 2,240 shares of the enterprise software provider’s stock worth $373,000 after buying an additional 60 shares during the period. Finally, McLean Asset Management Corp grew its holdings in shares of Oracle by 1.1% during the fourth quarter. McLean Asset Management Corp now owns 5,447 shares of the enterprise software provider’s stock valued at $908,000 after buying an additional 61 shares during the last quarter. Institutional investors own 42.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ORCL. BNP Paribas upgraded Oracle to a “strong-buy” rating in a research note on Tuesday, December 10th. Guggenheim raised their price objective on Oracle from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Piper Sandler upped their target price on Oracle from $185.00 to $210.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Mizuho increased their price target on shares of Oracle from $185.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Finally, Evercore ISI lifted their price objective on shares of Oracle from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.73.

Oracle Price Performance

Shares of NYSE ORCL opened at $177.18 on Wednesday. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $495.57 billion, a PE ratio of 43.32, a PEG ratio of 3.39 and a beta of 1.05. Oracle Co. has a one year low of $106.51 and a one year high of $198.31. The firm has a fifty day moving average of $170.37 and a 200 day moving average of $164.97.

Oracle (NYSE:ORCL) last released its earnings results on Monday, December 9th. The enterprise software provider reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.01). The company had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $14.12 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.34 EPS. As a group, research analysts predict that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, January 23rd were given a $0.40 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.90%. Oracle’s dividend payout ratio (DPR) is presently 39.12%.

Insider Transactions at Oracle

In related news, CEO Safra Catz sold 2,101,154 shares of the stock in a transaction on Wednesday, January 22nd. The stock was 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 of the company’s stock, valued at approximately $207,331,027.20. This represents a 65.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 42.20% of the company’s stock.

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.