Canoe Financial LP Cuts Stake in Oracle Co. (NYSE:ORCL)

Canoe Financial LP decreased its stake in shares of Oracle Co. (NYSE:ORCL) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 122,809 shares of the enterprise software provider’s stock after selling 1,600 shares during the period. Canoe Financial LP’s holdings in Oracle were worth $20,723,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new position in Oracle in the second quarter valued at $27,000. POM Investment Strategies LLC bought a new stake in shares of Oracle in the second quarter worth $30,000. Bbjs Financial Advisors LLC bought a new stake in shares of Oracle in the 2nd quarter worth about $35,000. Koesten Hirschmann & Crabtree INC. bought a new stake in Oracle in the first quarter valued at about $38,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Oracle during the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ORCL shares. Oppenheimer reissued a “market perform” rating on shares of Oracle in a report on Tuesday, September 10th. Stifel Nicolaus increased their price objective on shares of Oracle from $135.00 to $155.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Evercore ISI lifted their target price on Oracle from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. BMO Capital Markets increased their price target on Oracle from $160.00 to $173.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 10th. Finally, Jefferies Financial Group upped their price objective on Oracle from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Twelve research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, Oracle currently has a consensus rating of “Moderate Buy” and an average target price of $168.52.

Insider Activity

In other Oracle news, EVP Maria Smith sold 6,320 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 42,889 shares in the company, valued at $7,076,685. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 42.80% of the stock is currently owned by corporate insiders.

Oracle Stock Performance

NYSE:ORCL opened at $173.52 on Monday. 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 50-day moving average of $160.15 and a 200-day moving average of $140.45. Oracle Co. has a twelve month low of $99.26 and a twelve month high of $178.61. The firm has a market cap of $478.20 billion, a price-to-earnings ratio of 46.77, a price-to-earnings-growth ratio of 3.23 and a beta of 1.01.

Oracle (NYSE:ORCL) last issued its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share 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 during the quarter, compared to analysts’ expectations of $13.23 billion. During the same period last year, the firm posted $0.95 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts forecast that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. Oracle’s dividend payout ratio is 43.13%.

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.