Fortis Capital Management LLC Purchases New Position in Oracle Co. (NYSE:ORCL)

Fortis Capital Management LLC bought a new position in shares of Oracle Co. (NYSE:ORCL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,002 shares of the enterprise software provider's stock, valued at approximately $667,000.

Other hedge funds also recently made changes to their positions in the company. Second Line Capital LLC lifted its position in shares of Oracle by 1.5% during the third quarter. Second Line Capital LLC now owns 3,816 shares of the enterprise software provider's stock worth $650,000 after acquiring an additional 58 shares in the last quarter. Cadence Bank lifted its holdings in Oracle by 0.8% during the 3rd quarter. Cadence Bank now owns 7,605 shares of the enterprise software provider's stock worth $1,296,000 after purchasing an additional 59 shares in the last quarter. Requisite Capital Management LLC boosted its stake in Oracle by 2.8% in the 4th quarter. Requisite Capital Management LLC now owns 2,240 shares of the enterprise software provider's stock worth $373,000 after purchasing an additional 60 shares during the period. Cookson Peirce & Co. Inc. increased its position in shares of Oracle by 4.4% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,423 shares of the enterprise software provider's stock valued at $237,000 after buying an additional 60 shares during the period. Finally, McLean Asset Management Corp grew its stake in Oracle by 1.1% during the fourth quarter. McLean Asset Management Corp now owns 5,447 shares of the enterprise software provider's stock valued at $908,000 after acquiring an additional 61 shares in the last quarter. 42.44% of the stock is owned by institutional investors.

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Insider Activity at Oracle

In other news, CEO Safra Catz sold 2,101,154 shares of Oracle stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $185.35, for a total value of $389,448,893.90. Following the sale, the chief executive officer now directly owns 1,118,592 shares in the company, valued at approximately $207,331,027.20. This trade represents a 65.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 42.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ORCL has been the topic of several recent analyst reports. StockNews.com downgraded shares of Oracle from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Piper Sandler dropped their price objective on Oracle from $210.00 to $190.00 and set an "overweight" rating for the company in a research note on Tuesday, March 11th. UBS Group restated a "market perform" rating on shares of Oracle in a research report on Tuesday, March 11th. Mizuho raised their price target on Oracle from $185.00 to $210.00 and gave the company an "outperform" rating in a report on Tuesday, December 10th. Finally, Monness Crespi & Hardt raised Oracle from a "sell" rating to a "neutral" rating in a report on Monday, March 3rd. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $179.20.

Oracle Trading Down 4.0 %

Oracle stock traded down $6.22 during trading hours on Wednesday, reaching $147.71. The company had a trading volume of 13,208,136 shares, compared to its average volume of 8,528,072. 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 Co. has a 12-month low of $112.78 and a 12-month high of $198.31. The company has a 50-day moving average price of $164.84 and a 200 day moving average price of $170.44. The firm has a market cap of $413.15 billion, a price-to-earnings ratio of 36.12, a P/E/G ratio of 3.46 and a beta of 1.07.

Oracle (NYSE:ORCL - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $14.40 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The firm's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.41 earnings per share. Equities analysts forecast that Oracle Co. will post 5 earnings per share for the current year.

Oracle Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.50 per share. This is a positive change from Oracle's previous quarterly dividend of $0.40. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Thursday, April 10th. Oracle's dividend payout ratio is currently 46.95%.

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.