ICICI Prudential Asset Management Co Ltd Sells 20,000 Shares of Oracle Co. (NYSE:ORCL)

ICICI Prudential Asset Management Co Ltd lowered its stake in Oracle Co. (NYSE:ORCL - Free Report) by 26.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 55,891 shares of the enterprise software provider's stock after selling 20,000 shares during the period. Oracle accounts for approximately 1.0% of ICICI Prudential Asset Management Co Ltd's holdings, making the stock its 24th biggest holding. ICICI Prudential Asset Management Co Ltd's holdings in Oracle were worth $9,314,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Activest Wealth Management raised its stake in shares of Oracle by 21.9% in the 3rd quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider's stock valued at $53,000 after buying an additional 56 shares in the last quarter. Second Line Capital LLC grew its holdings in Oracle by 1.5% during the 3rd 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 during the last quarter. Cadence Bank grew 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 acquiring an additional 59 shares during the last quarter. Requisite Capital Management LLC grew its holdings in Oracle by 2.8% during the 4th quarter. Requisite Capital Management LLC now owns 2,240 shares of the enterprise software provider's stock worth $373,000 after acquiring an additional 60 shares during the last quarter. Finally, McLean Asset Management Corp grew its holdings in Oracle by 1.1% during the 4th quarter. McLean Asset Management Corp now owns 5,447 shares of the enterprise software provider's stock worth $908,000 after acquiring an additional 61 shares during the last quarter. Institutional investors own 42.44% of the company's stock.

Oracle Stock Down 4.6 %

Shares of NYSE:ORCL traded down $8.08 during midday trading on Friday, hitting $167.92. The stock had a trading volume of 9,693,812 shares, compared to its average volume of 12,127,484. Oracle Co. has a 12 month low of $109.66 and a 12 month high of $198.31. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. The business's 50-day simple moving average is $168.99 and its 200-day simple moving average is $167.02. The company has a market cap of $469.66 billion, a P/E ratio of 41.06, a PEG ratio of 3.57 and a beta of 1.05.

Oracle (NYSE:ORCL - Get Free Report) last released its earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share 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 the consensus estimate of $14.12 billion. During the same period in the prior year, the business posted $1.34 earnings per share. Oracle's quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts forecast that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, January 23rd were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. Oracle's dividend payout ratio is presently 39.12%.

Insiders Place Their Bets

In other Oracle news, CEO Safra Catz sold 2,101,154 shares of Oracle stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,118,592 shares of the company's stock, valued at $207,331,027.20. The trade was a 65.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 42.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ORCL. Cantor Fitzgerald began coverage on shares of Oracle in a report on Friday, January 17th. They set an "overweight" rating and a $214.00 price objective on the stock. Piper Sandler raised their target price on shares of Oracle from $185.00 to $210.00 and gave the company an "overweight" rating in a research note on Tuesday, December 10th. KeyCorp raised their target price on shares of Oracle from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Monness Crespi & Hardt lowered shares of Oracle from a "neutral" rating to a "sell" rating and set a $130.00 target price on the stock. in a research note on Friday, December 20th. Finally, Morgan Stanley raised their target price on shares of Oracle from $145.00 to $175.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company 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.