Canoe Financial LP Trims Holdings in Oracle Co. (NYSE:ORCL)

Canoe Financial LP reduced its holdings in shares of Oracle Co. (NYSE:ORCL) by 2.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 120,398 shares of the enterprise software provider’s stock after selling 2,411 shares during the period. Canoe Financial LP’s holdings in Oracle were worth $20,063,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC grew its stake in shares of Oracle by 16,023.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,065,083 shares of the enterprise software provider’s stock valued at $351,890,000 after purchasing an additional 2,052,275 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Oracle by 11.6% during the third quarter. Franklin Resources Inc. now owns 18,480,384 shares of the enterprise software provider’s stock worth $3,370,640,000 after purchasing an additional 1,917,416 shares during the period. State Street Corp grew its position in Oracle by 2.7% in the 3rd quarter. State Street Corp now owns 70,441,556 shares of the enterprise software provider’s stock valued at $12,003,241,000 after buying an additional 1,847,561 shares during the last quarter. Altshuler Shaham Ltd increased its stake in Oracle by 5,853.1% in the 2nd quarter. Altshuler Shaham Ltd now owns 1,552,580 shares of the enterprise software provider’s stock valued at $219,224,000 after buying an additional 1,526,500 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Oracle by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 35,194,683 shares of the enterprise software provider’s stock worth $5,977,015,000 after acquiring an additional 885,041 shares during the period. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Oracle Price Performance

Shares of ORCL stock opened at $161.05 on Friday. The stock’s fifty day simple moving average is $176.00 and its 200 day simple moving average is $161.21. Oracle Co. has a one year low of $106.51 and a one year high of $198.31. The firm has a market cap of $450.44 billion, a price-to-earnings ratio of 39.38, a P/E/G ratio of 3.03 and a beta of 1.06. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.81.

Oracle (NYSE:ORCL) last posted its quarterly earnings data on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.01). The firm had revenue of $14.06 billion for the quarter, compared to analyst estimates of $14.12 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.34 EPS. On average, analysts expect that Oracle Co. will post 5.01 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, January 23rd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.99%. The ex-dividend date was Friday, January 10th. Oracle’s dividend payout ratio is 39.12%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ORCL. KeyCorp lifted their price objective on Oracle from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Piper Sandler lifted their price target on Oracle from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Evercore ISI increased their price objective on Oracle from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. DA Davidson raised their target price on Oracle from $140.00 to $150.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Mizuho upped 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $182.73.

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.