ICA Group Wealth Management LLC Sells 3,547 Shares of Oracle Co. (NYSE:ORCL)

ICA Group Wealth Management LLC cut its stake in shares of Oracle Co. (NYSE:ORCL) by 73.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,258 shares of the enterprise software provider’s stock after selling 3,547 shares during the period. ICA Group Wealth Management LLC’s holdings in Oracle were worth $178,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in Oracle in the 4th quarter worth about $1,210,181,000. Janus Henderson Group PLC increased its position in shares of Oracle by 148.8% during the 1st quarter. Janus Henderson Group PLC now owns 12,872,300 shares of the enterprise software provider’s stock valued at $1,616,855,000 after purchasing an additional 7,699,141 shares during the last quarter. Capital World Investors raised its stake in shares of Oracle by 22.1% during the 4th quarter. Capital World Investors now owns 18,384,162 shares of the enterprise software provider’s stock worth $1,938,242,000 after purchasing an additional 3,323,334 shares during the period. PineStone Asset Management Inc. increased its holdings in Oracle by 131.2% during the second quarter. PineStone Asset Management Inc. now owns 3,911,201 shares of the enterprise software provider’s stock worth $552,262,000 after buying an additional 2,219,450 shares during the last quarter. Finally, Parnassus Investments LLC raised its position in Oracle by 17.7% in the fourth quarter. Parnassus Investments LLC now owns 14,599,902 shares of the enterprise software provider’s stock worth $1,539,268,000 after acquiring an additional 2,191,342 shares during the period. 42.44% of the stock is owned by hedge funds and other institutional investors.

Oracle Price Performance

ORCL opened at $162.03 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. The company has a market cap of $446.53 billion, a price-to-earnings ratio of 43.67, a price-to-earnings-growth ratio of 2.89 and a beta of 1.01. The stock has a fifty day simple moving average of $139.85 and a two-hundred day simple moving average of $130.03. Oracle Co. has a 12-month low of $99.26 and a 12-month high of $173.93.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.06. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company had revenue of $13.31 billion during the quarter, compared to analyst estimates of $13.23 billion. During the same period last year, the business earned $0.95 EPS. Oracle’s quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts predict that Oracle Co. will post 5.03 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.99%. Oracle’s payout ratio is currently 43.13%.

Analyst Ratings Changes

ORCL has been the subject of a number of research reports. Guggenheim increased their target price on shares of Oracle from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday. Bank of America increased their price target on shares of Oracle from $155.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. upped their target price 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. TD Cowen boosted their price objective on shares of Oracle from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, DA Davidson increased their target price on shares of Oracle from $105.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $161.13.

Insider Activity at Oracle

In other news, insider Edward Screven sold 235,918 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $144.30, for a total value of $34,042,967.40. Following the sale, the insider now directly owns 2,626,764 shares of the company’s stock, valued at $379,042,045.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Edward Screven sold 235,918 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $144.30, for a total value of $34,042,967.40. Following the completion of the transaction, the insider now directly owns 2,626,764 shares in the company, valued at approximately $379,042,045.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey Berg sold 22,500 shares of Oracle stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $143.12, for a total value of $3,220,200.00. Following the completion of the sale, the director now directly owns 210,712 shares of the company’s stock, valued at approximately $30,157,101.44. The disclosure for this sale can be found here. Insiders sold a total of 1,862,500 shares of company stock valued at $266,776,624 in the last 90 days. Corporate insiders own 42.80% of the company’s stock.

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.