Summit Global Investments Has $343,000 Stock Position in Oracle Co. (NYSE:ORCL)

Summit Global Investments lowered its position in shares of Oracle Co. (NYSE:ORCL) by 19.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,058 shares of the enterprise software provider’s stock after selling 499 shares during the quarter. Summit Global Investments’ holdings in Oracle were worth $343,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. R Squared Ltd acquired a new stake in Oracle during the 4th quarter valued at $25,000. Winch Advisory Services LLC raised its position in Oracle by 89.7% during the fourth quarter. Winch Advisory Services LLC now owns 184 shares of the enterprise software provider’s stock valued at $31,000 after buying an additional 87 shares during the period. Synergy Investment Management LLC purchased a new stake in Oracle in the 4th quarter worth about $34,000. TFC Financial Management Inc. boosted its position in Oracle by 129.0% during the 4th quarter. TFC Financial Management Inc. now owns 213 shares of the enterprise software provider’s stock worth $35,000 after acquiring an additional 120 shares during the period. Finally, Synergy Asset Management LLC purchased a new position in Oracle during the 4th quarter valued at about $47,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Insider Activity

In related news, CEO Safra Catz sold 2,101,154 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $185.35, for a total transaction of $389,448,893.90. Following the transaction, the chief executive officer now directly owns 1,118,592 shares in the company, valued at $207,331,027.20. The trade was a 65.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 42.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

ORCL has been the subject of a number of research analyst reports. BNP Paribas raised shares of Oracle to a “strong-buy” rating in a research report on Tuesday, December 10th. Jefferies Financial Group lifted their target price on shares of Oracle from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Citigroup lowered their price target on shares of Oracle from $194.00 to $160.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Piper Sandler cut their price objective on Oracle from $210.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Finally, Royal Bank of Canada set a $145.00 target price on Oracle and gave the company a “sector perform” rating in a research note on Tuesday, March 11th. Thirteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Oracle currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.20.

Oracle Price Performance

NYSE ORCL opened at $154.98 on Tuesday. The stock has a 50-day simple moving average of $164.89 and a 200 day simple moving average of $170.36. Oracle Co. has a twelve month low of $112.78 and a twelve month high of $198.31. The stock has a market capitalization of $433.46 billion, a PE ratio of 37.89, a P/E/G ratio of 3.46 and a beta of 1.07. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.81 and a current ratio of 0.81.

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

Oracle Increases Dividend

The business 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 is an increase from Oracle’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.29%. Oracle’s payout ratio is presently 46.95%.

About Oracle

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.