Argyle Capital Management Inc. Lowers Position in Oracle Co. (NYSE:ORCL)

Argyle Capital Management Inc. trimmed its position in shares of Oracle Co. (NYSE:ORCL) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 53,500 shares of the enterprise software provider’s stock after selling 1,000 shares during the quarter. Oracle comprises about 1.3% of Argyle Capital Management Inc.’s investment portfolio, making the stock its 28th largest holding. Argyle Capital Management Inc.’s holdings in Oracle were worth $3,194,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Diversified Trust Co lifted its position in shares of Oracle by 18.3% during the third quarter. Diversified Trust Co now owns 22,356 shares of the enterprise software provider’s stock valued at $1,335,000 after buying an additional 3,464 shares during the last quarter. Summit Financial Group Inc. acquired a new position in shares of Oracle during the second quarter valued at about $222,000. Fulton Bank N. A. increased its holdings in shares of Oracle by 352.0% during the second quarter. Fulton Bank N. A. now owns 56,390 shares of the enterprise software provider’s stock valued at $3,117,000 after acquiring an additional 43,914 shares in the last quarter. IFM Investors Pty Ltd increased its holdings in shares of Oracle by 3.5% during the third quarter. IFM Investors Pty Ltd now owns 172,460 shares of the enterprise software provider’s stock valued at $10,296,000 after acquiring an additional 5,896 shares in the last quarter. Finally, Ritholtz Wealth Management increased its holdings in shares of Oracle by 16.8% during the second quarter. Ritholtz Wealth Management now owns 25,951 shares of the enterprise software provider’s stock valued at $1,434,000 after acquiring an additional 3,738 shares in the last quarter. 48.24% of the stock is owned by institutional investors and hedge funds.

In other news, CAO W Corey West sold 5,359 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $61.20, for a total transaction of $327,970.80. Following the transaction, the chief accounting officer now owns 115,006 shares in the company, valued at approximately $7,038,367.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Dorian Daley sold 112,500 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $60.95, for a total value of $6,856,875.00. Following the transaction, the executive vice president now owns 112,500 shares in the company, valued at approximately $6,856,875. The disclosure for this sale can be found here. Insiders have sold a total of 129,673 shares of company stock worth $7,906,167 in the last quarter. Insiders own 39.10% of the company’s stock.

ORCL has been the topic of several recent analyst reports. BNP Paribas upgraded shares of Oracle to a “buy” rating and set a $64.00 price objective on the stock in a report on Thursday, September 24th. The Goldman Sachs Group upped their price objective on shares of Oracle from $61.00 to $69.00 and gave the company a “buy” rating in a report on Friday, September 11th. Piper Sandler upped their price objective on shares of Oracle from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, September 11th. Barclays increased their price target on shares of Oracle from $59.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, October 23rd. They noted that the move was a valuation call. Finally, BMO Capital Markets increased their price target on shares of Oracle from $57.00 to $63.00 and gave the stock a “market perform” rating in a report on Friday, September 11th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $60.68.

Shares of NYSE ORCL opened at $55.59 on Thursday. The stock has a market capitalization of $167.38 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.76 and a beta of 0.79. Oracle Co. has a 12 month low of $39.71 and a 12 month high of $62.60. The firm’s 50 day simple moving average is $59.53 and its 200-day simple moving average is $55.75. The company has a debt-to-equity ratio of 6.68, a current ratio of 2.66 and a quick ratio of 2.66.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Thursday, September 10th. The enterprise software provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.15 billion. Oracle had a net margin of 26.13% and a return on equity of 85.71%. During the same quarter last year, the company earned $0.81 EPS. Analysts anticipate that Oracle Co. will post 3.77 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 22nd. Stockholders of record on Thursday, October 8th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, October 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.73%. Oracle’s dividend payout ratio (DPR) is 27.75%.

About Oracle

Oracle Corporation provides products and services that address enterprise information technology environments worldwide. The company's cloud and license business engages in the sale, marketing, and delivery of its applications and infrastructure technologies through cloud and on-premise deployment models, including cloud services and license support; and cloud license and on-premise license.

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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