Mengis Capital Management Inc. Trims Stock Holdings in Oracle Co. (NYSE:ORCL)

Mengis Capital Management Inc. reduced its stake in shares of Oracle Co. (NYSE:ORCL) by 53.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,978 shares of the enterprise software provider’s stock after selling 4,587 shares during the period. Mengis Capital Management Inc.’s holdings in Oracle were worth $678,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Oracle by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 151,213,890 shares of the enterprise software provider’s stock valued at $18,993,977,000 after purchasing an additional 1,514,569 shares during the period. Capital World Investors boosted its position in shares of Oracle by 0.4% during the first quarter. Capital World Investors now owns 18,466,713 shares of the enterprise software provider’s stock worth $2,319,604,000 after acquiring an additional 82,551 shares during the last quarter. Legal & General Group Plc increased its holdings in Oracle by 2.3% in the 2nd 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. Janus Henderson Group PLC boosted its holdings in shares of Oracle by 148.8% during the 1st quarter. Janus Henderson Group PLC now owns 12,872,300 shares of the enterprise software provider’s stock valued at $1,616,855,000 after purchasing an additional 7,699,141 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Oracle by 6.2% in the second 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. 42.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Maria Smith sold 6,320 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 42.20% of the company’s stock.

Analyst Upgrades and Downgrades

ORCL has been the topic of several recent research reports. Sanford C. Bernstein upped their price objective on 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 target on shares of Oracle from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. StockNews.com raised shares of Oracle from a “hold” rating to a “buy” rating in a research note on Tuesday. UBS Group restated a “market outperform” rating on shares of Oracle in a report on Friday, October 18th. Finally, TD Cowen increased their price target on shares of Oracle from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $168.52.

Oracle Stock Performance

Oracle stock opened at $189.60 on Wednesday. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $525.39 billion, a PE ratio of 48.87, a P/E/G ratio of 3.49 and a beta of 1.02. The company has a 50 day moving average price of $169.43 and a 200-day moving average price of $145.54. Oracle Co. has a fifty-two week low of $99.26 and a fifty-two week high of $191.50.

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, beating analysts’ consensus estimates of $1.33 by $0.06. The business had revenue of $13.31 billion during the quarter, compared to analyst estimates of $13.23 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. Oracle’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 EPS. As a group, equities analysts forecast that Oracle Co. will post 5 earnings per share 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. This represents a $1.60 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date was Thursday, October 10th. Oracle’s dividend payout ratio (DPR) is 41.24%.

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.