AdvisorNet Financial Inc Sells 2,001 Shares of Oracle Co. (NYSE:ORCL)

Posted by Defense World Staff on Mar 24th, 2023

AdvisorNet Financial Inc cut its holdings in Oracle Co. (NYSE:ORCL – Get Rating) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,195 shares of the enterprise software provider’s stock after selling 2,001 shares during the period. AdvisorNet Financial Inc’s holdings in Oracle were worth $1,079,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. McClarren Financial Advisors Inc. bought a new stake in Oracle during the third quarter valued at about $28,000. FSC Wealth Advisors LLC bought a new stake in Oracle during the third quarter valued at about $29,000. Pacifica Partners Inc. boosted its holdings in Oracle by 108.9% during the third quarter. Pacifica Partners Inc. now owns 401 shares of the enterprise software provider’s stock valued at $29,000 after acquiring an additional 209 shares during the period. Cowa LLC bought a new stake in Oracle during the third quarter valued at about $30,000. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in Oracle during the third quarter valued at about $31,000. 40.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Oracle

In other Oracle news, Director Rona Alison Fairhead sold 8,080 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $89.82, for a total value of $725,745.60. Following the transaction, the director now directly owns 11,197 shares of the company’s stock, valued at $1,005,714.54. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 43.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ORCL shares. Cowen reduced their target price on shares of Oracle from $98.00 to $96.00 and set an “outperform” rating for the company in a research note on Tuesday, December 13th. StockNews.com upgraded shares of Oracle from a “hold” rating to a “buy” rating in a research note on Tuesday. Berenberg Bank increased their target price on shares of Oracle from $72.00 to $82.50 in a research note on Wednesday, March 8th. Barclays increased their target price on shares of Oracle from $81.00 to $85.00 in a research note on Friday, March 10th. Finally, Evercore ISI increased their target price on shares of Oracle from $87.00 to $95.00 in a research note on Friday, March 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.06.

Oracle Price Performance

ORCL opened at $87.78 on Friday. Oracle Co. has a one year low of $60.78 and a one year high of $91.22. The company’s 50 day simple moving average is $87.65 and its 200-day simple moving average is $79.78. The stock has a market capitalization of $236.99 billion, a P/E ratio of 28.97, a price-to-earnings-growth ratio of 2.74 and a beta of 1.02.

Oracle (NYSE:ORCL – Get Rating) last released its quarterly earnings results on Thursday, March 9th. The enterprise software provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.20 by $0.02. Oracle had a net margin of 17.46% and a negative return on equity of 262.40%. The business had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $12.42 billion. During the same period in the prior year, the firm earned $0.94 earnings per share. Oracle’s revenue was up 17.9% compared to the same quarter last year. As a group, analysts anticipate that Oracle Co. will post 4 EPS for the current year.

Oracle Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 24th. Shareholders of record on Tuesday, April 11th will be paid a $0.40 dividend. The ex-dividend date is Monday, April 10th. This is a boost from Oracle’s previous quarterly dividend of $0.32. This represents a $1.60 dividend on an annualized basis and a yield of 1.82%. Oracle’s dividend payout ratio (DPR) is presently 42.24%.

Oracle Company Profile

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Oracle Corp. engages in the provision of products and services that address all aspects of corporate information technology environments. It operates through the following business segments: Cloud and License, Hardware, and Services. The Cloud and License segment markets, sells, and delivers applications, platform, and infrastructure technologies.