Grimes & Company Inc. Reduces Stock Position in Oracle Co. (NYSE:ORCL)

Grimes & Company Inc. trimmed its holdings in shares of Oracle Co. (NYSE:ORCL) by 1.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,957 shares of the enterprise software provider’s stock after selling 116 shares during the period. Grimes & Company Inc.’s holdings in Oracle were worth $2,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in ORCL. Fairway Wealth LLC acquired a new stake in Oracle during the 2nd quarter worth $27,000. POM Investment Strategies LLC acquired a new stake in shares of Oracle during the second quarter worth about $30,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Oracle in the 2nd quarter valued at about $35,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of Oracle in the 1st quarter valued at about $38,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Oracle during the 1st quarter worth approximately $40,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Oracle Stock Performance

NYSE ORCL opened at $174.38 on Friday. The business has a 50 day moving average price of $158.68 and a 200 day moving average price of $139.61. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $483.22 billion, a P/E ratio of 44.94, a PEG ratio of 3.23 and a beta of 1.01. Oracle Co. has a 1-year low of $99.26 and a 1-year high of $178.61.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.06. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The business had revenue of $13.31 billion during the quarter, compared to the consensus estimate of $13.23 billion. During the same quarter in the previous year, the company posted $0.95 EPS. The business’s revenue was up 6.9% on a year-over-year basis. Sell-side analysts expect that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.60 annualized dividend and a dividend yield of 0.92%. Oracle’s dividend payout ratio is currently 41.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ORCL shares. Citigroup increased their price objective on Oracle from $140.00 to $157.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Melius Research raised shares of Oracle from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. Piper Sandler upped their target price on shares of Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. UBS Group reissued a “market outperform” rating on shares of Oracle in a report on Friday, October 18th. Finally, Mizuho upped their price objective on Oracle from $170.00 to $185.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $168.52.

Insider Activity at Oracle

In other Oracle news, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 42.20% of the stock is owned by corporate insiders.

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.