Morse Asset Management Inc Acquires New Position in Oracle Co. (NYSE:ORCL)

Morse Asset Management Inc bought a new stake in Oracle Co. (NYSE:ORCL) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 15,200 shares of the enterprise software provider’s stock, valued at approximately $2,590,000.

A number of other hedge funds also recently added to or reduced their stakes in ORCL. IHT Wealth Management LLC raised its stake in shares of Oracle by 35.5% during the 3rd quarter. IHT Wealth Management LLC now owns 21,610 shares of the enterprise software provider’s stock worth $3,671,000 after buying an additional 5,663 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in Oracle by 1.7% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 59,515 shares of the enterprise software provider’s stock valued at $10,141,000 after acquiring an additional 971 shares in the last quarter. Investment Management Corp of Ontario raised its position in Oracle by 49.5% during the third quarter. Investment Management Corp of Ontario now owns 54,944 shares of the enterprise software provider’s stock worth $9,362,000 after acquiring an additional 18,200 shares during the last quarter. IronBridge Private Wealth LLC purchased a new stake in shares of Oracle in the third quarter valued at about $223,000. Finally, Janus Henderson Group PLC grew its position in shares of Oracle by 0.4% in the third quarter. Janus Henderson Group PLC now owns 14,608,951 shares of the enterprise software provider’s stock valued at $2,489,345,000 after purchasing an additional 54,868 shares during the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $165.00, for a total value of $1,042,800.00. Following the sale, the executive vice president now owns 42,889 shares in the company, valued at approximately $7,076,685. This represents a 12.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 42.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Stifel Nicolaus lifted their price objective on Oracle from $155.00 to $175.00 and gave the stock a “hold” rating in a research report on Tuesday. KeyCorp boosted their price target on Oracle from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Melius raised Oracle from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research note on Monday, September 16th. BMO Capital Markets boosted their target price on shares of Oracle from $173.00 to $205.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Oracle from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Twelve analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.48.

Oracle Stock Up 0.5 %

Shares of NYSE:ORCL opened at $178.58 on Thursday. The company has a 50 day moving average of $179.97 and a two-hundred day moving average of $155.06. Oracle Co. has a 52-week low of $99.26 and a 52-week high of $198.31. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 6.68. The company has a market capitalization of $494.86 billion, a price-to-earnings ratio of 46.06, a price-to-earnings-growth ratio of 3.49 and a beta of 1.03.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share (EPS) 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 analysts’ expectations of $14.12 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $1.34 EPS. As a group, analysts forecast that Oracle Co. will post 5.06 earnings per share for the current fiscal year.

Oracle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, January 23rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.60 dividend on an annualized basis and a yield of 0.90%. Oracle’s dividend payout ratio (DPR) is presently 41.24%.

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.