Horizon Bancorp Inc. IN Reduces Stock Holdings in Oracle Co. (NYSE:ORCL)

Horizon Bancorp Inc. IN cut its holdings in shares of Oracle Co. (NYSE:ORCL) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,004 shares of the enterprise software provider’s stock after selling 75 shares during the quarter. Oracle makes up approximately 0.4% of Horizon Bancorp Inc. IN’s portfolio, making the stock its 24th largest holding. Horizon Bancorp Inc. IN’s holdings in Oracle were worth $834,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Principal Financial Group Inc. lifted its position in Oracle by 5.3% during the third quarter. Principal Financial Group Inc. now owns 2,416,362 shares of the enterprise software provider’s stock valued at $411,748,000 after purchasing an additional 121,874 shares during the last quarter. RMR Wealth Builders lifted its stake in Oracle by 383.4% during the fourth quarter. RMR Wealth Builders now owns 7,155 shares of the enterprise software provider’s stock worth $1,192,000 after purchasing an additional 5,675 shares during the last quarter. Itau Unibanco Holding S.A. increased its position in shares of Oracle by 15.3% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 24,800 shares of the enterprise software provider’s stock valued at $3,502,000 after purchasing an additional 3,300 shares during the last quarter. Chase Investment Counsel Corp purchased a new position in shares of Oracle during the 3rd quarter valued at about $4,160,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in Oracle by 79.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 286,460 shares of the enterprise software provider’s stock worth $48,813,000 after buying an additional 126,985 shares in the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ORCL has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price objective on shares of Oracle from $155.00 to $175.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Morgan Stanley lifted their price objective on Oracle from $145.00 to $175.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 10th. DA Davidson increased their target price on Oracle from $140.00 to $150.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Melius Research raised Oracle from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. Finally, Guggenheim lifted their target price on shares of Oracle from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $181.48.

Oracle Stock Performance

Shares of ORCL opened at $153.73 on Tuesday. Oracle Co. has a one year low of $105.42 and a one year high of $198.31. The business has a fifty day moving average of $177.30 and a 200 day moving average of $161.13. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.72. The firm has a market capitalization of $429.98 billion, a P/E ratio of 37.59, a PEG ratio of 3.39 and a beta of 1.06.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Monday, December 9th. The enterprise software provider reported $1.47 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.01). The business had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $14.12 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. Oracle’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.34 EPS. As a group, sell-side analysts anticipate that Oracle Co. will post 5.03 EPS for the current year.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, January 23rd were paid a $0.40 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.04%. Oracle’s dividend payout ratio (DPR) is 39.12%.

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.