Sawgrass Asset Management LLC Reduces Position in Oracle Co. (NYSE:ORCL)

Sawgrass Asset Management LLC lowered its stake in shares of Oracle Co. (NYSE:ORCL) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 123,356 shares of the enterprise software provider’s stock after selling 11,240 shares during the quarter. Oracle comprises approximately 2.3% of Sawgrass Asset Management LLC’s holdings, making the stock its 8th largest holding. Sawgrass Asset Management LLC’s holdings in Oracle were worth $20,556,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. R Squared Ltd bought a new stake in Oracle in the 4th quarter valued at $25,000. Winch Advisory Services LLC increased its holdings in Oracle by 89.7% in the 4th quarter. Winch Advisory Services LLC now owns 184 shares of the enterprise software provider’s stock valued at $31,000 after buying an additional 87 shares during the period. TFC Financial Management Inc. increased its holdings in Oracle by 129.0% in the 4th quarter. TFC Financial Management Inc. now owns 213 shares of the enterprise software provider’s stock valued at $35,000 after buying an additional 120 shares during the period. Reston Wealth Management LLC acquired a new stake in shares of Oracle in the 3rd quarter valued at $44,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Oracle in the 4th quarter valued at $47,000. Institutional investors own 42.44% of the company’s stock.

Insider Activity at Oracle

In related news, CEO Safra Catz sold 345,174 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $185.56, for a total value of $64,050,487.44. Following the sale, the chief executive officer now directly 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 legal filing with the SEC, which is available at this hyperlink. 42.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Mizuho upped their price target on shares of Oracle from $185.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Cantor Fitzgerald started coverage on Oracle in a report on Friday, January 17th. They set an “overweight” rating and a $214.00 price objective for the company. BMO Capital Markets boosted their price objective on Oracle from $173.00 to $205.00 and gave the stock a “market perform” rating in a report on Tuesday, December 10th. Piper Sandler boosted their price objective on Oracle from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Finally, JMP Securities reissued a “market outperform” rating and set a $205.00 price objective on shares of Oracle in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.73.

Oracle Stock Performance

Oracle stock opened at $172.30 on Thursday. The business has a 50 day moving average of $170.25 and a 200-day moving average of $165.24. Oracle Co. has a 1 year low of $106.51 and a 1 year high of $198.31. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $481.92 billion, a P/E ratio of 42.13, a P/E/G ratio of 3.39 and a beta of 1.05.

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

Oracle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, January 23rd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Friday, January 10th. Oracle’s payout ratio is presently 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.