Independent Franchise Partners LLP Reduces Position in Oracle Co. (NYSE:ORCL)

Independent Franchise Partners LLP cut its stake in shares of Oracle Co. (NYSE:ORCL) by 25.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,946,553 shares of the enterprise software provider’s stock after selling 2,045,323 shares during the quarter. Oracle comprises approximately 5.9% of Independent Franchise Partners LLP’s portfolio, making the stock its 4th biggest position. Independent Franchise Partners LLP owned approximately 0.22% of Oracle worth $708,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. ExodusPoint Capital Management LP bought a new position in shares of Oracle during the second quarter valued at $29,447,000. Osaic Holdings Inc. lifted its stake in Oracle by 118.2% during the 2nd quarter. Osaic Holdings Inc. now owns 856,248 shares of the enterprise software provider’s stock valued at $47,960,000 after acquiring an additional 463,801 shares during the period. Altrius Capital Management Inc purchased a new stake in shares of Oracle during the 2nd quarter valued at about $744,000. Bessemer Group Inc. grew its stake in shares of Oracle by 0.4% in the second quarter. Bessemer Group Inc. now owns 7,723,188 shares of the enterprise software provider’s stock worth $919,753,000 after acquiring an additional 33,605 shares during the period. Finally, Delta Asset Management LLC TN lifted its position in Oracle by 21.9% during the second quarter. Delta Asset Management LLC TN now owns 5,569 shares of the enterprise software provider’s stock valued at $663,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Oracle Stock Up 1.1 %

NYSE:ORCL traded up $1.22 during mid-day trading on Monday, reaching $116.58. The company’s stock had a trading volume of 1,816,883 shares, compared to its average volume of 8,855,193. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 29.72. The firm has a market capitalization of $319.36 billion, a PE ratio of 34.33, a price-to-earnings-growth ratio of 2.92 and a beta of 1.03. The stock has a fifty day moving average of $108.95 and a 200-day moving average of $111.75. Oracle Co. has a 1 year low of $78.06 and a 1 year high of $127.54.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Monday, September 11th. The enterprise software provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. The firm had revenue of $12.45 billion for the quarter, compared to the consensus estimate of $12.48 billion. Oracle had a net margin of 18.40% and a negative return on equity of 3,631.39%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $0.81 earnings per share. Equities research analysts forecast that Oracle Co. will post 4.48 earnings per share for the current year.

Oracle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 26th. Shareholders of record on Thursday, October 12th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Wednesday, October 11th. Oracle’s payout ratio is 47.62%.

Insider Activity

In other news, Director George H. Conrades sold 2,325 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $113.76, for a total transaction of $264,492.00. Following the transaction, the director now owns 17,836 shares in the company, valued at $2,029,023.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 42.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. BMO Capital Markets lowered their price target on Oracle from $132.00 to $130.00 and set a “market perform” rating on the stock in a report on Monday, September 25th. Evercore ISI raised Oracle from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $131.00 to $135.00 in a research report on Monday, October 9th. Jefferies Financial Group increased their price objective on shares of Oracle from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, September 7th. Morgan Stanley increased their price target on shares of Oracle from $106.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. Finally, Edward Jones upgraded Oracle from a “hold” rating to a “buy” rating in a research report on Monday, November 13th. Eleven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $124.23.

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.