Morton Capital Management LLC CA Reduces Position in Oracle Co. (NYSE:ORCL)

Morton Capital Management LLC CA lessened its holdings in shares of Oracle Co. (NYSE:ORCL) by 10.4% during the 4th quarter, HoldingsChannel reports. The fund owned 8,221 shares of the enterprise software provider’s stock after selling 958 shares during the quarter. Morton Capital Management LLC CA’s holdings in Oracle were worth $867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of ORCL. Vanguard Group Inc. lifted its stake in shares of Oracle by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 147,273,413 shares of the enterprise software provider’s stock valued at $15,599,200,000 after buying an additional 7,883,515 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Oracle by 3.0% during the 2nd quarter. BlackRock Inc. now owns 120,625,641 shares of the enterprise software provider’s stock valued at $14,365,308,000 after buying an additional 3,494,674 shares in the last quarter. State Street Corp lifted its stake in shares of Oracle by 1.5% during the 2nd quarter. State Street Corp now owns 63,514,823 shares of the enterprise software provider’s stock valued at $7,563,980,000 after buying an additional 928,013 shares in the last quarter. Morgan Stanley lifted its stake in shares of Oracle by 9.6% during the 4th quarter. Morgan Stanley now owns 20,502,544 shares of the enterprise software provider’s stock valued at $1,675,878,000 after buying an additional 1,794,080 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Oracle by 3.5% during the 3rd quarter. Northern Trust Corp now owns 18,718,180 shares of the enterprise software provider’s stock valued at $1,982,630,000 after buying an additional 635,994 shares in the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ORCL. Piper Sandler lowered their target price on shares of Oracle from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 2nd. The Goldman Sachs Group boosted their price target on shares of Oracle from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. KeyCorp started coverage on shares of Oracle in a research note on Thursday, March 21st. They issued an “overweight” rating and a $150.00 price target on the stock. Wolfe Research decreased their price target on shares of Oracle from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 12th. Finally, HSBC boosted their price target on shares of Oracle from $144.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $130.76.

Insider Transactions at Oracle

In other Oracle news, CEO Safra Catz sold 790,000 shares of Oracle stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $126.54, for a total value of $99,966,600.00. Following the completion of the transaction, the chief executive officer now owns 1,118,592 shares of the company’s stock, valued at $141,546,631.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 42.80% of the company’s stock.

Oracle Stock Performance

Shares of NYSE ORCL traded down $1.19 during midday trading on Wednesday, reaching $125.28. The company had a trading volume of 8,112,225 shares, compared to its average volume of 9,259,414. The business’s 50-day simple moving average is $116.00 and its 200 day simple moving average is $111.37. The stock has a market cap of $344.33 billion, a P/E ratio of 33.06, a P/E/G ratio of 2.44 and a beta of 1.00. Oracle Co. has a 1 year low of $89.48 and a 1 year high of $132.77. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 13.34.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Monday, March 11th. The enterprise software provider reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.04. The business had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $13.29 billion. Oracle had a net margin of 20.27% and a return on equity of 336.11%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $0.96 earnings per share. On average, analysts forecast that Oracle Co. will post 4.44 earnings per share for the current fiscal year.

Oracle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.28%. Oracle’s payout ratio is currently 42.22%.

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.