Hourglass Capital LLC Trims Stake in Oracle Co. (NYSE:ORCL)

Hourglass Capital LLC cut its position in shares of Oracle Co. (NYSE:ORCL) by 3.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,277 shares of the enterprise software provider’s stock after selling 2,395 shares during the quarter. Oracle makes up about 3.1% of Hourglass Capital LLC’s investment portfolio, making the stock its largest position. Hourglass Capital LLC’s holdings in Oracle were worth $11,123,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Dopkins Wealth Management LLC bought a new position in Oracle during the 3rd quarter worth approximately $1,193,000. Huntington National Bank grew its position in Oracle by 26.5% during the 3rd quarter. Huntington National Bank now owns 499,577 shares of the enterprise software provider’s stock worth $85,128,000 after acquiring an additional 104,769 shares during the last quarter. Summit Asset Management LLC grew its position in Oracle by 5.6% during the 3rd quarter. Summit Asset Management LLC now owns 3,384 shares of the enterprise software provider’s stock worth $577,000 after acquiring an additional 180 shares during the last quarter. Plato Investment Management Ltd grew its position in Oracle by 8.0% during the 3rd quarter. Plato Investment Management Ltd now owns 36,600 shares of the enterprise software provider’s stock worth $6,230,000 after acquiring an additional 2,726 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd grew its position in Oracle by 32.7% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 75,891 shares of the enterprise software provider’s stock worth $12,932,000 after acquiring an additional 18,700 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors.

Oracle Stock Up 0.0 %

Shares of NYSE:ORCL opened at $189.62 on Thursday. The stock has a fifty day simple moving average of $169.43 and a two-hundred day simple moving average of $145.54. The stock has a market capitalization of $525.45 billion, a price-to-earnings ratio of 48.87, a PEG ratio of 3.49 and a beta of 1.02. Oracle Co. has a 12-month low of $99.26 and a 12-month high of $191.77. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. The business had revenue of $13.31 billion during the quarter, compared to analysts’ expectations of $13.23 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 earnings per share. On average, research analysts anticipate that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Thursday, October 10th. Oracle’s payout ratio is 41.24%.

Insiders Place Their Bets

In other Oracle news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction on Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the sale, the executive vice president now owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 42.20% of the company’s stock.

Wall Street Analyst Weigh In

ORCL has been the subject of several research analyst reports. Stifel Nicolaus increased their price objective on Oracle from $135.00 to $155.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. JMP Securities increased their price objective on Oracle from $175.00 to $205.00 and gave the stock a “market outperform” rating in a report on Friday, October 18th. Guggenheim increased their price objective on Oracle from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Morgan Stanley increased their price objective on Oracle from $125.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 10th. Finally, UBS Group reiterated a “market outperform” rating on shares of Oracle in a report on Friday, October 18th. Eleven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Oracle presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.52.

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.