Morton Community Bank Trims Stock Holdings in Oracle Co. (NYSE:ORCL)

Morton Community Bank reduced its position in Oracle Co. (NYSE:ORCL) by 2.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,204 shares of the enterprise software provider’s stock after selling 777 shares during the quarter. Oracle makes up about 1.4% of Morton Community Bank’s portfolio, making the stock its 7th largest position. Morton Community Bank’s holdings in Oracle were worth $5,488,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. PineStone Asset Management Inc. lifted its position in shares of Oracle by 131.2% during the 2nd quarter. PineStone Asset Management Inc. now owns 3,911,201 shares of the enterprise software provider’s stock valued at $552,262,000 after acquiring an additional 2,219,450 shares during the period. International Assets Investment Management LLC lifted its position in shares of Oracle by 16,023.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,065,083 shares of the enterprise software provider’s stock valued at $351,890,000 after acquiring an additional 2,052,275 shares during the period. Altshuler Shaham Ltd lifted its position in shares of Oracle by 5,853.1% during the 2nd quarter. Altshuler Shaham Ltd now owns 1,552,580 shares of the enterprise software provider’s stock valued at $219,224,000 after acquiring an additional 1,526,500 shares during the period. Swedbank AB lifted its position in shares of Oracle by 123.7% during the 2nd quarter. Swedbank AB now owns 2,645,920 shares of the enterprise software provider’s stock valued at $373,604,000 after acquiring an additional 1,462,978 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Oracle by 459.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,235,859 shares of the enterprise software provider’s stock valued at $174,503,000 after acquiring an additional 1,014,959 shares during the period. 42.44% of the stock is owned by institutional investors.

Oracle Price Performance

ORCL opened at $184.84 on Friday. The firm has a market cap of $512.20 billion, a P/E ratio of 47.64, a PEG ratio of 3.41 and a beta of 1.02. The firm has a 50-day moving average of $177.45 and a 200 day moving average of $151.80. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72. Oracle Co. has a fifty-two week low of $99.26 and a fifty-two week high of $196.04.

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

Oracle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a yield of 0.87%. Oracle’s dividend payout ratio is presently 41.24%.

Insiders Place Their Bets

In other news, EVP Maria Smith sold 6,320 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were 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 directly owns 42,889 shares in the company, valued at approximately $7,076,685. This trade represents a 12.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 42.20% of the company’s stock.

Analysts Set New Price Targets

ORCL has been the topic of a number of research reports. KeyCorp boosted their target price on shares of Oracle from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Sanford C. Bernstein upped their price objective on shares of Oracle from $201.00 to $202.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Piper Sandler upped their price objective on shares of Oracle from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. upped their price objective on shares of Oracle from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Finally, Bank of America upped their price objective on shares of Oracle from $155.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Oracle currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.52.

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.