King Wealth Management Group Sells 1,414 Shares of Oracle Co. (NYSE:ORCL)

King Wealth Management Group decreased its position in Oracle Co. (NYSE:ORCL) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,195 shares of the enterprise software provider’s stock after selling 1,414 shares during the quarter. King Wealth Management Group’s holdings in Oracle were worth $3,365,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Raymond James Financial Inc. purchased a new position in shares of Oracle in the 4th quarter valued at approximately $930,095,000. Franklin Resources Inc. grew its position in Oracle by 11.6% during the 3rd quarter. Franklin Resources Inc. now owns 18,480,384 shares of the enterprise software provider’s stock valued at $3,370,640,000 after purchasing an additional 1,917,416 shares during the last quarter. State Street Corp increased its position in shares of Oracle by 2.7% during the third quarter. State Street Corp now owns 70,441,556 shares of the enterprise software provider’s stock valued at $12,003,241,000 after acquiring an additional 1,847,561 shares in the last quarter. Amundi raised its stake in shares of Oracle by 15.2% in the fourth quarter. Amundi now owns 12,327,164 shares of the enterprise software provider’s stock worth $2,012,943,000 after purchasing an additional 1,623,609 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in Oracle by 3,805.0% during the 4th quarter. Proficio Capital Partners LLC now owns 966,571 shares of the enterprise software provider’s stock valued at $161,069,000 after acquiring an additional 941,819 shares during the period. Institutional investors own 42.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ORCL. Citigroup dropped their price target on Oracle from $194.00 to $160.00 and set a “neutral” rating on the stock in a research note on Wednesday. UBS Group restated a “market perform” rating on shares of Oracle in a research note on Tuesday. DA Davidson reaffirmed a “neutral” rating and set a $150.00 price objective on shares of Oracle in a report on Tuesday. Evercore ISI dropped their price target on Oracle from $200.00 to $185.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Oracle from $140.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday. Twelve equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Oracle has an average rating of “Moderate Buy” and an average price target of $179.71.

Oracle Stock Down 2.3 %

NYSE:ORCL opened at $147.41 on Friday. Oracle Co. has a 1-year low of $112.78 and a 1-year high of $198.31. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $412.30 billion, a PE ratio of 36.04, a price-to-earnings-growth ratio of 3.46 and a beta of 1.07. The company has a 50-day moving average of $166.14 and a 200 day moving average of $169.34.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.02). Oracle had a return on equity of 133.25% and a net margin of 21.16%. The company had revenue of $14.13 billion for the quarter, compared to analysts’ expectations of $14.40 billion. During the same quarter last year, the company earned $1.41 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, research analysts anticipate that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Thursday, April 10th. This is a positive change from Oracle’s previous quarterly dividend of $0.40. Oracle’s dividend payout ratio is currently 39.12%.

Insider Transactions at Oracle

In other Oracle news, CEO Safra Catz sold 2,101,154 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $185.35, for a total value of $389,448,893.90. Following the completion of the sale, the chief executive officer now directly owns 1,118,592 shares in the company, valued at approximately $207,331,027.20. This trade represents a 65.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 42.20% of the company’s stock.

Oracle 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.