Canoe Financial LP Sells 2,411 Shares of Oracle Co. (NYSE:ORCL)

Canoe Financial LP lessened its position in Oracle Co. (NYSE:ORCL) by 2.0% in the 4th quarter, Holdings Channel reports. The firm owned 120,398 shares of the enterprise software provider’s stock after selling 2,411 shares during the period. Canoe Financial LP’s holdings in Oracle were worth $20,063,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ORCL. Winch Advisory Services LLC increased its position in shares of Oracle by 89.7% in the 4th 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 in the last quarter. Reston Wealth Management LLC acquired a new position in Oracle in the third quarter valued at about $44,000. Avondale Wealth Management bought a new stake in shares of Oracle in the third quarter worth about $51,000. Friedenthal Financial acquired a new stake in shares of Oracle during the third quarter worth about $51,000. Finally, Activest Wealth Management lifted its holdings in shares of Oracle by 21.9% during the 3rd quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider’s stock valued at $53,000 after purchasing an additional 56 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ORCL shares. Citigroup increased their price objective on shares of Oracle from $157.00 to $194.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Sanford C. Bernstein increased their target price on Oracle from $201.00 to $202.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. StockNews.com upgraded Oracle from a “hold” rating to a “buy” rating in a report on Thursday. Stifel Nicolaus increased their price objective on Oracle from $155.00 to $175.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Finally, Cantor Fitzgerald started coverage on Oracle in a research note on Friday. They issued an “overweight” rating and a $214.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Oracle currently has an average rating of “Moderate Buy” and a consensus target price of $182.73.

Oracle Price Performance

Shares of Oracle stock opened at $161.05 on Friday. The stock has a market capitalization of $450.44 billion, a P/E ratio of 39.38, a price-to-earnings-growth ratio of 3.03 and a beta of 1.06. Oracle Co. has a one year low of $106.51 and a one year high of $198.31. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50 day simple moving average is $176.00 and its two-hundred day simple moving average is $161.21.

Oracle (NYSE:ORCL) last posted its earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.01). The firm had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $14.12 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.34 earnings per share. Analysts forecast that Oracle Co. will post 5.01 EPS for the current year.

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Thursday, January 23rd were given a dividend of $0.40 per share. The ex-dividend date was Friday, January 10th. This represents a $1.60 annualized dividend and a yield of 0.99%. Oracle’s payout ratio is 39.12%.

Oracle 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.