Lincoln National Corp Sells 501 Shares of Oracle Co. (NYSE:ORCL)

Lincoln National Corp cut its stake in shares of Oracle Co. (NYSE:ORCLGet Rating) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,004 shares of the enterprise software provider’s stock after selling 501 shares during the period. Lincoln National Corp’s holdings in Oracle were worth $1,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealthspire Advisors LLC raised its holdings in shares of Oracle by 17.0% in the second quarter. Wealthspire Advisors LLC now owns 6,458 shares of the enterprise software provider’s stock worth $451,000 after buying an additional 939 shares during the period. StoneX Group Inc. purchased a new position in Oracle during the 2nd quarter worth $349,000. NorthCrest Asset Manangement LLC increased its holdings in Oracle by 1.2% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 242,195 shares of the enterprise software provider’s stock worth $14,791,000 after purchasing an additional 2,815 shares during the period. Ridgewood Investments LLC increased its holdings in Oracle by 19.7% during the 3rd quarter. Ridgewood Investments LLC now owns 7,684 shares of the enterprise software provider’s stock worth $469,000 after purchasing an additional 1,267 shares during the period. Finally, RFG Advisory LLC increased its holdings in Oracle by 28.4% during the 2nd quarter. RFG Advisory LLC now owns 4,323 shares of the enterprise software provider’s stock worth $334,000 after purchasing an additional 957 shares during the period. 40.96% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Stock Performance

NYSE ORCL opened at $88.97 on Tuesday. The stock has a 50-day simple moving average of $82.73 and a two-hundred day simple moving average of $76.14. The firm has a market capitalization of $239.89 billion, a P/E ratio of 27.89, a PEG ratio of 2.78 and a beta of 1.02. Oracle Co. has a fifty-two week low of $60.78 and a fifty-two week high of $89.47.

Oracle (NYSE:ORCLGet Rating) last released its quarterly earnings data on Monday, December 12th. The enterprise software provider reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). Oracle had a net margin of 19.09% and a negative return on equity of 174.60%. The company had revenue of $12.28 billion for the quarter, compared to analysts’ expectations of $12.01 billion. During the same quarter in the previous year, the business posted $1.21 EPS. The business’s quarterly revenue was up 18.5% on a year-over-year basis. As a group, analysts forecast that Oracle Co. will post 3.93 earnings per share for the current year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 24th. Investors of record on Tuesday, January 10th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Monday, January 9th. This represents a $1.28 annualized dividend and a dividend yield of 1.44%. Oracle’s dividend payout ratio is presently 40.13%.

Insider Activity at Oracle

In related news, insider Edward Screven sold 200,000 shares of Oracle stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $74.90, for a total value of $14,980,000.00. Following the completion of the transaction, the insider now owns 2,543,033 shares in the company, valued at approximately $190,473,171.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Edward Screven sold 200,000 shares of Oracle stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $74.90, for a total value of $14,980,000.00. Following the completion of the transaction, the insider now owns 2,543,033 shares in the company, valued at approximately $190,473,171.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael J. Boskin sold 90,000 shares of Oracle stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $80.08, for a total value of $7,207,200.00. Following the completion of the transaction, the director now owns 82,607 shares of the company’s stock, valued at approximately $6,615,168.56. The disclosure for this sale can be found here. Insiders sold a total of 690,000 shares of company stock worth $54,987,200 in the last 90 days. Corporate insiders own 43.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ORCL. DA Davidson began coverage on Oracle in a report on Tuesday, January 17th. They set a “neutral” rating and a $85.00 price objective on the stock. Stifel Nicolaus increased their target price on Oracle from $72.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, December 13th. Monness Crespi & Hardt began coverage on Oracle in a research report on Tuesday, December 13th. They set a “buy” rating and a $113.00 target price on the stock. JPMorgan Chase & Co. set a $84.00 target price on Oracle in a research report on Monday, November 14th. Finally, Societe Generale increased their target price on Oracle to $93.00 in a research report on Wednesday, December 14th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Oracle presently has an average rating of “Moderate Buy” and an average price target of $92.54.

Oracle Profile

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Oracle Corp. engages in the provision of products and services that address all aspects of corporate information technology environments. It operates through the following business segments: Cloud and License, Hardware, and Services. The Cloud and License segment markets, sells, and delivers applications, platform, and infrastructure technologies.

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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