Weitz Investment Management Inc. Sells 7,125 Shares of Oracle Co. (NYSE:ORCL)

Weitz Investment Management Inc. lessened its holdings in shares of Oracle Co. (NYSE:ORCL - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 207,575 shares of the enterprise software provider's stock after selling 7,125 shares during the period. Oracle comprises approximately 1.8% of Weitz Investment Management Inc.'s holdings, making the stock its 20th largest holding. Weitz Investment Management Inc.'s holdings in Oracle were worth $34,590,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Oracle by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 157,411,949 shares of the enterprise software provider's stock valued at $26,231,127,000 after purchasing an additional 2,296,069 shares in the last quarter. State Street Corp lifted its holdings in Oracle by 2.7% in the third quarter. State Street Corp now owns 70,441,556 shares of the enterprise software provider's stock worth $12,003,241,000 after buying an additional 1,847,561 shares during the period. Geode Capital Management LLC boosted its position in Oracle by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 35,814,302 shares of the enterprise software provider's stock valued at $5,954,961,000 after acquiring an additional 619,619 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Oracle by 9.3% during the 4th quarter. Franklin Resources Inc. now owns 20,202,421 shares of the enterprise software provider's stock worth $3,366,531,000 after acquiring an additional 1,722,037 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of Oracle by 0.5% in the 4th quarter. Fisher Asset Management LLC now owns 17,995,664 shares of the enterprise software provider's stock worth $2,998,798,000 after acquiring an additional 97,635 shares in the last quarter. Institutional investors own 42.44% of the company's stock.

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Oracle Stock Performance

Shares of ORCL traded up $4.02 during trading hours on Wednesday, hitting $145.96. The stock had a trading volume of 11,539,620 shares, compared to its average volume of 9,037,719. Oracle Co. has a 12 month low of $112.78 and a 12 month high of $198.31. The stock has a fifty day moving average price of $162.14 and a 200 day moving average price of $169.85. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $408.24 billion, a PE ratio of 35.69, a PEG ratio of 3.46 and a beta of 1.07.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings results 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). The business had revenue of $14.13 billion for the quarter, compared to analysts' expectations of $14.40 billion. Oracle had a net margin of 21.16% and a return on equity of 133.25%. Oracle's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.41 EPS. Analysts anticipate that Oracle Co. will post 5 EPS for the current year.

Oracle Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Thursday, April 10th. This is a boost from Oracle's previous quarterly dividend of $0.40. Oracle's dividend payout ratio (DPR) is currently 46.95%.

Insider Activity

In related news, CEO Safra Catz sold 345,174 shares of Oracle 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 transaction, the chief executive officer now directly owns 1,118,592 shares in the company, valued at approximately $207,565,931.52. The trade was a 23.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 42.20% of the company's stock.

Analysts Set New Price Targets

ORCL has been the topic of several recent research reports. 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. KeyCorp reaffirmed an "overweight" rating and issued a $200.00 target price on shares of Oracle in a research report on Tuesday, March 11th. Mizuho increased their price target on shares of Oracle from $185.00 to $210.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 10th. Royal Bank of Canada set a $145.00 price objective on shares of Oracle and gave the stock a "sector perform" rating in a research note on Tuesday, March 11th. Finally, Barclays decreased their target price on shares of Oracle from $212.00 to $202.00 and set an "overweight" rating for the company in a research note on Tuesday, March 11th. 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 MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $178.65.

Oracle Company 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.