Allstate Corp Has $8.23 Million Stock Position in Oracle Co. (NYSE:ORCL)

Allstate Corp grew its holdings in shares of Oracle Co. (NYSE:ORCL) by 3,233.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 49,395 shares of the enterprise software provider’s stock after purchasing an additional 47,913 shares during the period. Allstate Corp’s holdings in Oracle were worth $8,231,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ORCL. Principal Financial Group Inc. raised its holdings in Oracle by 5.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,416,362 shares of the enterprise software provider’s stock worth $411,748,000 after purchasing an additional 121,874 shares during the last quarter. McClarren Financial Advisors Inc. increased its position in shares of Oracle by 201.7% during the fourth quarter. McClarren Financial Advisors Inc. now owns 1,599 shares of the enterprise software provider’s stock worth $266,000 after buying an additional 1,069 shares during the period. RMR Wealth Builders raised 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 buying an additional 5,675 shares during the last quarter. Foundations Investment Advisors LLC lifted its holdings in Oracle by 24.8% in the fourth quarter. Foundations Investment Advisors LLC now owns 164,593 shares of the enterprise software provider’s stock valued at $27,428,000 after buying an additional 32,718 shares during the period. Finally, Crews Bank & Trust bought a new stake in Oracle during the fourth quarter valued at $1,800,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Oracle Stock Down 3.5 %

ORCL opened at $140.75 on Friday. Oracle Co. has a fifty-two week low of $112.78 and a fifty-two week high of $198.31. The firm has a market capitalization of $393.67 billion, a P/E ratio of 34.41, a PEG ratio of 3.46 and a beta of 1.07. The company’s 50-day moving average is $163.94 and its 200 day moving average is $170.12. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.81.

Oracle (NYSE:ORCL) last posted its earnings results on Monday, March 10th. The enterprise software provider reported $1.47 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.02). The firm had revenue of $14.13 billion for the quarter, compared to the consensus estimate of $14.40 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. Oracle’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 EPS. Research analysts expect that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 10th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, April 10th. This is a positive change from Oracle’s previous quarterly dividend of $0.40. This represents a $2.00 annualized dividend and a dividend yield of 1.42%. Oracle’s dividend payout ratio (DPR) is currently 46.95%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ORCL shares. DA Davidson reissued a “neutral” rating and issued a $150.00 price objective on shares of Oracle in a research report on Tuesday, March 11th. UBS Group reiterated a “market perform” rating on shares of Oracle in a report on Tuesday, March 11th. Mizuho increased their price target on Oracle from $185.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. JMP Securities reiterated a “market outperform” rating and issued a $205.00 price objective on shares of Oracle in a research note on Wednesday, January 22nd. Finally, BMO Capital Markets dropped their target price on shares of Oracle from $205.00 to $175.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 11th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Oracle presently has an average rating of “Moderate Buy” and a consensus price target of $179.20.

Insider Transactions at Oracle

In related news, CEO Safra Catz sold 2,101,154 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $185.35, for a total transaction of $389,448,893.90. Following the completion of the sale, the chief executive officer now owns 1,118,592 shares in the company, valued at approximately $207,331,027.20. This trade represents a 65.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 42.20% of the company’s stock.

Oracle Company 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.