Te Ahumairangi Investment Management Ltd Reduces Holdings in Oracle Corporation $ORCL

by · The Markets Daily

Te Ahumairangi Investment Management Ltd decreased its position in Oracle Corporation (NYSE:ORCL – Free Report) by 11.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,873 shares of the enterprise software provider’s stock after selling 2,845 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Oracle were worth $3,058,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Clarkston Capital Partners LLC boosted its position in Oracle by 1.1% in the 1st quarter. Clarkston Capital Partners LLC now owns 6,290 shares of the enterprise software provider’s stock valued at $879,000 after buying an additional 68 shares during the period. Tacita Capital Inc boosted its position in Oracle by 6.0% in the 1st quarter. Tacita Capital Inc now owns 1,245 shares of the enterprise software provider’s stock valued at $174,000 after buying an additional 70 shares during the period. Flynn Zito Capital Management LLC boosted its position in Oracle by 1.7% in the 1st quarter. Flynn Zito Capital Management LLC now owns 4,333 shares of the enterprise software provider’s stock valued at $606,000 after buying an additional 71 shares during the period. Tiller Private Wealth Inc. boosted its position in Oracle by 4.6% in the 1st quarter. Tiller Private Wealth Inc. now owns 1,599 shares of the enterprise software provider’s stock valued at $224,000 after buying an additional 71 shares during the period. Finally, Cadence Bank boosted its position in Oracle by 1.0% in the 1st quarter. Cadence Bank now owns 7,440 shares of the enterprise software provider’s stock valued at $1,040,000 after buying an additional 71 shares during the period. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Insider Activity

In related news, insider Clayton M. Magouyrk sold 15,000 shares of Oracle stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the sale, the insider directly owned 60,722 shares in the company, valued at $13,000,580.20. This trade represents a 19.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Maria Smith sold 10,000 shares of Oracle stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the sale, the executive vice president owned 40,807 shares in the company, valued at $9,507,622.93. This represents a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 444,183 shares of company stock worth $86,521,198 over the last three months. Company insiders own 42.20% of the company’s stock.

Oracle Price Performance

Shares of NYSE:ORCL opened at $240.19 on Friday. The company’s fifty day moving average price is $237.49 and its 200 day moving average price is $184.51. Oracle Corporation has a 12 month low of $118.86 and a 12 month high of $260.87. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $674.64 billion, a P/E ratio of 55.34, a P/E/G ratio of 3.52 and a beta of 1.43.

Oracle (NYSE:ORCL – Get Free Report) last announced its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The firm had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period last year, the business earned $1.63 EPS. Oracle’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, sell-side analysts predict that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.8%. The ex-dividend date was Thursday, July 10th. Oracle’s dividend payout ratio (DPR) is currently 46.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ORCL shares. TD Cowen raised their price objective on shares of Oracle from $275.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. CIBC restated a “buy” rating on shares of Oracle in a report on Monday, June 9th. Piper Sandler upgraded shares of Oracle from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $190.00 to $270.00 in a report on Thursday, July 10th. Royal Bank Of Canada raised their price objective on shares of Oracle from $145.00 to $195.00 and gave the company a “sector perform” rating in a report on Thursday, June 12th. Finally, DA Davidson raised their price objective on shares of Oracle from $140.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, June 12th. Three analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.04.

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About Oracle

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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.

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