Point View Wealth Management Inc. Reduces Stock Position in Oracle Co. (NYSE:ORCL)
Point View Wealth Management Inc. lowered its position in shares of Oracle Co. (NYSE:ORCL) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,513 shares of the enterprise software provider’s stock after selling 345 shares during the period. Point View Wealth Management Inc.’s holdings in Oracle were worth $292,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Samalin Investment Counsel LLC bought a new stake in shares of Oracle during the 4th quarter valued at about $27,000. 1 North Wealth Services LLC purchased a new position in shares of Oracle during the third quarter valued at about $28,000. Winthrop Partners WNY LLC bought a new position in Oracle in the third quarter worth about $30,000. Massey Quick Simon & CO. LLC bought a new position in Oracle in the third quarter worth about $40,000. Finally, Braun Bostich & Associates Inc. purchased a new stake in Oracle in the fourth quarter worth about $54,000. 52.20% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on ORCL. Goldman Sachs Group reaffirmed a “buy” rating and set a $62.00 price objective on shares of Oracle in a research report on Monday, December 16th. Needham & Company LLC restated a “hold” rating on shares of Oracle in a research note on Wednesday, October 30th. Credit Suisse Group set a $62.00 target price on Oracle and gave the company a “buy” rating in a research note on Tuesday, December 17th. Zacks Investment Research lowered Oracle from a “hold” rating to a “sell” rating in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $56.00 price target on shares of Oracle in a research note on Friday, December 13th. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have given a buy rating to the stock. Oracle presently has a consensus rating of “Hold” and an average price target of $57.67.
Oracle (NYSE:ORCL) last posted its quarterly earnings results on Thursday, December 12th. The enterprise software provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.02. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.65 billion. Oracle had a return on equity of 56.86% and a net margin of 27.62%. Oracle’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 EPS. Equities research analysts anticipate that Oracle Co. will post 3.47 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 23rd. Shareholders of record on Thursday, January 9th were paid a dividend of $0.24 per share. The ex-dividend date was Wednesday, January 8th. This represents a $0.96 dividend on an annualized basis and a yield of 1.73%. Oracle’s dividend payout ratio is currently 30.38%.
In other Oracle news, EVP Dorian Daley sold 50,000 shares of Oracle stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $55.01, for a total value of $2,750,500.00. Following the completion of the sale, the executive vice president now owns 50,000 shares of the company’s stock, valued at approximately $2,750,500. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Bruce R. Chizen sold 225,000 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $54.64, for a total value of $12,294,000.00. Following the transaction, the director now directly owns 135,813 shares in the company, valued at $7,420,822.32. The disclosure for this sale can be found here. 36.60% of the stock is currently owned by insiders.
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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