Cannell & Spears LLC Sells 64,824 Shares of Oracle Co. (NYSE:ORCL)

Cannell & Spears LLC lessened its stake in shares of Oracle Co. (NYSE:ORCL - Free Report) by 12.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 438,629 shares of the enterprise software provider's stock after selling 64,824 shares during the quarter. Oracle makes up 1.5% of Cannell & Spears LLC's holdings, making the stock its 13th biggest holding. Cannell & Spears LLC's holdings in Oracle were worth $73,093,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of ORCL. Prudent Man Investment Management Inc. bought a new position in Oracle during the 4th quarter worth $139,000. Edmond DE Rothschild Holding S.A. lifted its position in Oracle by 128.3% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 36,525 shares of the enterprise software provider's stock valued at $6,087,000 after acquiring an additional 20,527 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Oracle by 9.2% in the fourth quarter. Meeder Asset Management Inc. now owns 105,058 shares of the enterprise software provider's stock valued at $17,507,000 after purchasing an additional 8,830 shares during the last quarter. D L Carlson Investment Group Inc. bought a new stake in Oracle during the fourth quarter worth $2,385,000. Finally, AIA Group Ltd boosted its stake in Oracle by 121.7% in the fourth quarter. AIA Group Ltd now owns 23,156 shares of the enterprise software provider's stock valued at $3,859,000 after acquiring an additional 12,709 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at Oracle

In related news, CEO Safra Catz sold 345,174 shares of the company's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $185.56, for a total transaction of $64,050,487.44. Following the completion of the sale, the chief executive officer now owns 1,118,592 shares in the company, valued at approximately $207,565,931.52. This represents a 23.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 42.20% of the company's stock.

Oracle Stock Up 1.6 %

NYSE:ORCL traded up $2.24 during trading hours on Tuesday, reaching $142.05. 9,511,593 shares of the company traded hands, compared to its average volume of 9,010,916. Oracle Co. has a 1 year low of $112.78 and a 1 year high of $198.31. The stock has a market capitalization of $397.32 billion, a P/E ratio of 34.73, a P/E/G ratio of 3.46 and a beta of 1.07. The business's 50-day moving average price is $163.52 and its two-hundred day moving average price is $170.16. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.65.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings data 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). Oracle had a return on equity of 133.25% and a net margin of 21.16%. The business had revenue of $14.13 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same quarter in the previous year, the business posted $1.41 earnings per share. Oracle's quarterly revenue was up 6.4% compared to the same quarter last year. Analysts predict that Oracle Co. will post 5 earnings per share for the current year.

Oracle Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, April 10th. 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 yield of 1.41%. Oracle's payout ratio is currently 46.95%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ORCL. Mizuho upped their price target on Oracle from $185.00 to $210.00 and gave the company an "outperform" rating in a research report on Tuesday, December 10th. DA Davidson reaffirmed a "neutral" rating and issued a $150.00 price target on shares of Oracle in a report on Tuesday, March 11th. Westpark Capital assumed coverage on shares of Oracle in a report on Tuesday. They set a "buy" rating and a $195.00 price objective for the company. Guggenheim reaffirmed a "buy" rating and issued a $220.00 target price on shares of Oracle in a research note on Wednesday, March 5th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $205.00 price target on shares of Oracle in a research note on Wednesday, January 22nd. Thirteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Oracle presently has a consensus rating of "Moderate Buy" and a consensus price target of $178.65.

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.