Hartford Investment Management Co. Lowers Holdings in Oracle Co. (NYSE:ORCL)

Hartford Investment Management Co. lessened its holdings in Oracle Co. (NYSE:ORCLFree Report) by 1.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,346 shares of the enterprise software provider’s stock after selling 1,261 shares during the period. Oracle accounts for approximately 0.5% of Hartford Investment Management Co.’s portfolio, making the stock its 26th largest holding. Hartford Investment Management Co.’s holdings in Oracle were worth $16,555,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ORCL. Wealth Group Ltd. purchased a new position in Oracle in the third quarter worth $222,000. Exchange Traded Concepts LLC increased its position in shares of Oracle by 157.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 4,587 shares of the enterprise software provider’s stock valued at $782,000 after purchasing an additional 2,802 shares during the last quarter. Wesbanco Bank Inc. raised its holdings in shares of Oracle by 7.5% during the 3rd quarter. Wesbanco Bank Inc. now owns 126,123 shares of the enterprise software provider’s stock valued at $21,491,000 after buying an additional 8,790 shares in the last quarter. Creative Planning raised its holdings in shares of Oracle by 4.1% during the 3rd quarter. Creative Planning now owns 774,912 shares of the enterprise software provider’s stock valued at $132,045,000 after buying an additional 30,341 shares in the last quarter. Finally, GenWealth Group Inc. bought a new stake in Oracle in the 3rd quarter worth approximately $202,000. Institutional investors own 42.44% of the company’s stock.

Wall Street Analyst Weigh In

ORCL has been the topic of several recent research reports. Evercore ISI increased their target price on shares of Oracle from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. BNP Paribas raised Oracle to a “strong-buy” rating in a research note on Tuesday, December 10th. Mizuho increased their price objective on Oracle from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. UBS Group lifted their target price on shares of Oracle from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, BMO Capital Markets raised their price target on shares of Oracle from $173.00 to $205.00 and gave the stock a “market perform” rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Oracle presently has an average rating of “Moderate Buy” and a consensus price target of $182.73.

Read Our Latest Research Report on ORCL

Oracle Stock Performance

Oracle stock opened at $177.18 on Wednesday. The stock’s 50 day moving average is $170.37 and its 200 day moving average is $164.97. The company has a market capitalization of $495.57 billion, a P/E ratio of 43.32, a PEG ratio of 3.39 and a beta of 1.05. Oracle Co. has a twelve month low of $106.51 and a twelve month high of $198.31. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65.

Oracle (NYSE:ORCLGet Free Report) last issued its quarterly earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.01). The company had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $14.12 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. Oracle’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.34 earnings per share. On average, equities research analysts predict that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, January 23rd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Friday, January 10th. Oracle’s payout ratio is 39.12%.

Insider Transactions at Oracle

In related news, CEO Safra Catz sold 345,174 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $185.56, for a total transaction of $64,050,487.44. Following the transaction, the chief executive officer now owns 1,118,592 shares in the company, valued at $207,565,931.52. This represents a 23.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 42.20% of the company’s stock.

Oracle Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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