Suvretta Capital Management LLC Sells 8,020 Shares of Oracle Co. (NYSE:ORCL)

Suvretta Capital Management LLC lowered its holdings in Oracle Co. (NYSE:ORCL) by 3.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 237,094 shares of the enterprise software provider’s stock after selling 8,020 shares during the period. Oracle comprises about 1.3% of Suvretta Capital Management LLC’s portfolio, making the stock its 29th largest holding. Suvretta Capital Management LLC’s holdings in Oracle were worth $40,401,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Fisher Asset Management LLC grew its stake in shares of Oracle by 1.8% in the third quarter. Fisher Asset Management LLC now owns 17,898,029 shares of the enterprise software provider’s stock valued at $3,049,824,000 after buying an additional 310,709 shares in the last quarter. Legal & General Group Plc lifted its stake in Oracle by 2.3% in the second quarter. Legal & General Group Plc now owns 13,242,340 shares of the enterprise software provider’s stock valued at $1,869,816,000 after acquiring an additional 296,866 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Oracle by 6.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,474,912 shares of the enterprise software provider’s stock valued at $1,955,325,000 after acquiring an additional 691,193 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Oracle by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,318,962 shares of the enterprise software provider’s stock worth $1,033,430,000 after purchasing an additional 424,500 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Oracle by 0.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,182,917 shares of the enterprise software provider’s stock valued at $1,015,862,000 after purchasing an additional 66,444 shares during the period. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Oracle

In other Oracle news, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the transaction, the executive vice president now owns 42,889 shares of the company’s stock, valued at $7,076,685. This represents a 12.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 42.20% of the company’s stock.

Oracle Stock Down 4.0 %

Shares of ORCL opened at $182.70 on Friday. The firm has a 50 day simple moving average of $177.10 and a two-hundred day simple moving average of $151.11. The company has a market cap of $506.27 billion, a P/E ratio of 47.09, a P/E/G ratio of 3.37 and a beta of 1.02. Oracle Co. has a one year low of $99.26 and a one year high of $196.04. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.06. The business had revenue of $13.31 billion during the quarter, compared to the consensus estimate of $13.23 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. Oracle’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.95 EPS. Research analysts forecast that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Thursday, October 10th. Oracle’s dividend payout ratio is 41.24%.

Analyst Upgrades and Downgrades

ORCL has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their price target on Oracle from $135.00 to $155.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Melius raised Oracle from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a report on Monday, September 16th. BMO Capital Markets raised their price target on Oracle from $160.00 to $173.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. Jefferies Financial Group upped their price objective on shares of Oracle from $170.00 to $190.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, StockNews.com upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research note on Wednesday, November 20th. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, Oracle currently has a consensus rating of “Moderate Buy” and an average price target of $169.52.

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.