Icon Wealth Advisors LLC Cuts Stock Holdings in Oracle Co. (NYSE:ORCL)

Icon Wealth Advisors LLC lessened its stake in shares of Oracle Co. (NYSE:ORCL - Free Report) by 83.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,368 shares of the enterprise software provider's stock after selling 12,199 shares during the period. Icon Wealth Advisors LLC's holdings in Oracle were worth $433,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ORCL. Fairway Wealth LLC purchased a new stake in Oracle in the 2nd quarter worth $27,000. POM Investment Strategies LLC bought a new position in Oracle in the 2nd quarter valued at $30,000. Bbjs Financial Advisors LLC purchased a new position in Oracle in the 2nd quarter worth about $35,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Oracle during the first quarter valued at approximately $38,000. Finally, Quest Partners LLC bought a new stake in Oracle during the 2nd quarter valued at $40,000. 42.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ORCL. Jefferies Financial Group lifted their price target on Oracle from $170.00 to $190.00 and gave the company a "buy" rating in a report on Monday, September 16th. DA Davidson boosted their price target on Oracle from $105.00 to $140.00 and gave the company a "neutral" rating in a research note on Tuesday, September 10th. UBS Group reissued a "market outperform" rating on shares of Oracle in a report on Friday, October 18th. Guggenheim lifted their target price on shares of Oracle from $185.00 to $200.00 and gave the company a "buy" rating in a report on Friday, September 13th. Finally, TD Cowen upped their price target on Oracle from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $169.52.

Oracle Price Performance

Shares of ORCL traded down $0.14 during mid-day trading on Friday, reaching $192.29. The company had a trading volume of 6,879,447 shares, compared to its average volume of 6,824,324. The company's 50-day moving average is $175.62 and its 200-day moving average is $149.41. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72. Oracle Co. has a twelve month low of $99.26 and a twelve month high of $196.04. The company has a market capitalization of $532.85 billion, a P/E ratio of 49.56, a P/E/G ratio of 3.55 and a beta of 1.02.

Oracle (NYSE:ORCL - Get Free Report) last issued its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.33 by $0.06. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company had revenue of $13.31 billion during the quarter, compared to analysts' expectations of $13.23 billion. During the same quarter in the previous year, the company earned $0.95 EPS. Oracle's revenue was up 6.9% on a year-over-year basis. On average, equities analysts anticipate that Oracle Co. will post 5 EPS for the current year.

Oracle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Thursday, October 10th. Oracle's payout ratio is presently 41.24%.

Insider Transactions at Oracle

In other news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction on Monday, September 16th. The shares were sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the transaction, the executive vice president now owns 42,889 shares in the company, valued at approximately $7,076,685. The trade was a 12.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 42.20% of the stock is currently owned by corporate insiders.

About Oracle

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.