Resona Asset Management Co. Ltd. Takes Position in Oracle Co. (NYSE:ORCL)

Resona Asset Management Co. Ltd. purchased a new stake in shares of Oracle Co. (NYSE:ORCL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 488,417 shares of the enterprise software provider's stock, valued at approximately $81,547,000.

Several other hedge funds have also recently added to or reduced their stakes in ORCL. R Squared Ltd purchased a new position in Oracle in the 4th quarter worth $25,000. Winch Advisory Services LLC increased its holdings in shares of Oracle by 89.7% in the fourth quarter. Winch Advisory Services LLC now owns 184 shares of the enterprise software provider's stock worth $31,000 after buying an additional 87 shares during the period. Synergy Investment Management LLC bought a new stake in shares of Oracle in the 4th quarter valued at about $34,000. TFC Financial Management Inc. lifted its stake in shares of Oracle by 129.0% in the 4th quarter. TFC Financial Management Inc. now owns 213 shares of the enterprise software provider's stock valued at $35,000 after acquiring an additional 120 shares during the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in Oracle during the 4th quarter valued at about $47,000. Institutional investors own 42.44% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. BNP Paribas upgraded Oracle to a "strong-buy" rating in a research report on Tuesday, December 10th. Guggenheim reissued a "buy" rating and set a $220.00 price target on shares of Oracle in a research report on Thursday. KeyCorp reissued an "overweight" rating and issued a $200.00 price target on shares of Oracle in a report on Tuesday, March 11th. Morgan Stanley lowered their price objective on shares of Oracle from $175.00 to $170.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 11th. Finally, JMP Securities reissued a "market outperform" rating and issued a $205.00 target price on shares of Oracle in a research note on Wednesday, January 22nd. Thirteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $178.65.

Remove Ads

Oracle Stock Down 6.6 %

Shares of ORCL traded down $9.06 on Friday, hitting $128.17. 14,968,758 shares of the stock traded hands, compared to its average volume of 9,111,905. Oracle Co. has a one year low of $112.78 and a one year high of $198.31. The company has a market capitalization of $358.48 billion, a PE ratio of 31.34, a P/E/G ratio of 3.46 and a beta of 1.22. The business has a 50 day simple moving average of $160.05 and a 200 day simple moving average of $169.38. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.81 and a current ratio of 0.81.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share 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 analysts' expectations of $14.40 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. The firm's revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities analysts forecast that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.56%. This is a positive change from Oracle's previous quarterly dividend of $0.40. Oracle's payout ratio is presently 46.95%.

Insider Activity at Oracle

In other Oracle news, CEO Safra Catz sold 2,101,154 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,118,592 shares of the company's stock, valued at approximately $207,331,027.20. This represents a 65.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Naomi O. Seligman sold 2,000 shares of Oracle stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $145.81, for a total transaction of $291,620.00. Following the transaction, the director now owns 34,630 shares in the company, valued at $5,049,400.30. This represents a 5.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,448,328 shares of company stock worth $453,791,001. 42.20% of the stock is owned by insiders.

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.