Canoe Financial LP Sells 2,411 Shares of Oracle Co. (NYSE:ORCL)

Canoe Financial LP cut its holdings in Oracle Co. (NYSE:ORCL - Free Report) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120,398 shares of the enterprise software provider's stock after selling 2,411 shares during the period. Canoe Financial LP's holdings in Oracle were worth $20,063,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. International Assets Investment Management LLC grew its holdings in Oracle by 16,023.4% in the third quarter. International Assets Investment Management LLC now owns 2,065,083 shares of the enterprise software provider's stock worth $351,890,000 after purchasing an additional 2,052,275 shares during the period. Franklin Resources Inc. increased its position in Oracle by 11.6% in the 3rd quarter. Franklin Resources Inc. now owns 18,480,384 shares of the enterprise software provider's stock valued at $3,370,640,000 after buying an additional 1,917,416 shares in the last quarter. State Street Corp raised its stake in Oracle by 2.7% during the 3rd quarter. State Street Corp now owns 70,441,556 shares of the enterprise software provider's stock worth $12,003,241,000 after buying an additional 1,847,561 shares during the period. Altshuler Shaham Ltd boosted its holdings in Oracle by 5,853.1% in the second quarter. Altshuler Shaham Ltd now owns 1,552,580 shares of the enterprise software provider's stock worth $219,224,000 after acquiring an additional 1,526,500 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Oracle by 2.6% in the third quarter. Geode Capital Management LLC now owns 35,194,683 shares of the enterprise software provider's stock valued at $5,977,015,000 after acquiring an additional 885,041 shares during the period. 42.44% of the stock is owned by institutional investors and hedge funds.

Oracle Stock Performance

NYSE:ORCL traded up $1.51 on Friday, reaching $161.05. 11,593,649 shares of the company's stock were exchanged, compared to its average volume of 5,912,798. The stock has a fifty day simple moving average of $175.44 and a 200-day simple moving average of $161.34. Oracle Co. has a 52 week low of $106.51 and a 52 week 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 firm has a market cap of $450.44 billion, a price-to-earnings ratio of 39.38, a P/E/G ratio of 3.03 and a beta of 1.06.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings data on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing analysts' consensus estimates of $1.48 by ($0.01). The business had revenue of $14.06 billion during the quarter, compared to analysts' expectations of $14.12 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. The firm's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.34 earnings per share. As a group, sell-side analysts predict that Oracle Co. will post 5.01 earnings per share for the current year.

Oracle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, January 23rd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, January 10th. Oracle's dividend payout ratio is presently 39.12%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ORCL. Mizuho upped their target price on Oracle from $185.00 to $210.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 10th. StockNews.com raised shares of Oracle from a "hold" rating to a "buy" rating in a research note on Thursday. Evercore ISI boosted their target price on shares of Oracle from $190.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 10th. UBS Group raised their price target on shares of Oracle from $200.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Finally, Monness Crespi & Hardt lowered Oracle from a "neutral" rating to a "sell" rating and set a $130.00 price objective for the company. in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $182.73.

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.