Lord Abbett & CO. LLC boosted its holdings in Oracle Co. (NYSE:ORCL - Free Report) by 84.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 863,883 shares of the enterprise software provider's stock after buying an additional 395,613 shares during the period. Lord Abbett & CO. LLC's holdings in Oracle were worth $147,206,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Fairway Wealth LLC acquired a new stake in Oracle during the second quarter worth about $27,000. POM Investment Strategies LLC bought a new stake in shares of Oracle in the 2nd quarter worth approximately $30,000. Quest Partners LLC acquired a new stake in shares of Oracle during the 2nd quarter worth approximately $40,000. Reston Wealth Management LLC bought a new stake in shares of Oracle during the third quarter valued at approximately $44,000. Finally, Avondale Wealth Management acquired a new position in shares of Oracle in the third quarter valued at $51,000. 42.44% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on ORCL. KeyCorp lifted their price target on shares of Oracle from $190.00 to $200.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Piper Sandler lifted their target price on shares of Oracle from $185.00 to $210.00 and gave the company an "overweight" rating in a research report on Tuesday. Sanford C. Bernstein increased their price target on shares of Oracle from $201.00 to $202.00 and gave the stock an "outperform" rating in a research report on Monday, September 30th. Morgan Stanley raised their price target on shares of Oracle from $145.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Finally, BNP Paribas upgraded Oracle to a "strong-buy" rating in a research note on Tuesday. Twelve investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $183.63.
Read Our Latest Report on ORCL
Oracle Trading Down 1.1 %
Shares of ORCL stock traded down $1.93 on Friday, reaching $173.39. The company had a trading volume of 8,351,106 shares, compared to its average volume of 8,401,477. The company has a 50-day moving average of $180.41 and a 200-day moving average of $155.93. Oracle Co. has a 12 month low of $99.36 and a 12 month high of $198.31. The stock has a market cap of $484.96 billion, a PE ratio of 42.39, a PEG ratio of 3.32 and a beta of 1.03. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 5.65.
Oracle (NYSE:ORCL - Get Free Report) last issued its earnings results on Monday, December 9th. The enterprise software provider reported $1.47 EPS 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 previous year, the company posted $1.34 EPS. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities analysts forecast that Oracle Co. will post 5.17 earnings per share for the current year.
Oracle Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 9th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. Oracle's payout ratio is 39.12%.
Insiders Place Their Bets
In related news, EVP Maria Smith sold 6,320 shares of the firm's 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 sale, the executive vice president now directly owns 42,889 shares in the company, valued at $7,076,685. This trade represents a 12.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 42.20% of the company's stock.
About Oracle
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Free Report)
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.
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