Addison Capital Co Reduces Holdings in Oracle Corporation $ORCL

Key Points

• Addison Capital Co reduced its stake in Oracle Corporation by 4.7%, selling 2,785 shares and leaving it with a total of 56,223 shares, valued at approximately $7.86 million.
• Several hedge funds increased their positions in Oracle, with Jacobi Capital Management LLC acquiring an additional 2,331 shares, leading to a total of 23,887 shares worth $3.34 million.
• Analysts have raised Oracle's price targets, with Evercore ISI increasing its target from $270 to $340, and the average consensus price target now stands at $296.84.

Addison Capital Co cut its position in Oracle Corporation (NYSE:ORCL - Free Report) by 4.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,223 shares of the enterprise software provider's stock after selling 2,785 shares during the period. Oracle accounts for about 3.1% of Addison Capital Co's investment portfolio, making the stock its 6th biggest position. Addison Capital Co's holdings in Oracle were worth $7,861,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC boosted its position in Oracle by 10.8% in the first quarter. Jacobi Capital Management LLC now owns 23,887 shares of the enterprise software provider's stock valued at $3,340,000 after buying an additional 2,331 shares in the last quarter. Advisors Capital Management LLC boosted its position in Oracle by 8.1% in the first quarter. Advisors Capital Management LLC now owns 230,269 shares of the enterprise software provider's stock valued at $32,194,000 after buying an additional 17,328 shares in the last quarter. SWS Partners boosted its position in Oracle by 1.8% in the first quarter. SWS Partners now owns 18,043 shares of the enterprise software provider's stock valued at $2,523,000 after buying an additional 318 shares in the last quarter. Iron Gate Global Advisors LLC acquired a new position in Oracle in the first quarter valued at about $242,000. Finally, MBL Wealth LLC boosted its position in Oracle by 8.9% in the first quarter. MBL Wealth LLC now owns 10,239 shares of the enterprise software provider's stock valued at $1,432,000 after buying an additional 840 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald boosted their target price on shares of Oracle from $271.00 to $400.00 and gave the stock an "overweight" rating in a research note on Wednesday. TD Cowen boosted their target price on shares of Oracle from $325.00 to $375.00 and gave the stock a "buy" rating in a research note on Wednesday. Oppenheimer reaffirmed an "outperform" rating on shares of Oracle in a research note on Wednesday, June 18th. Jefferies Financial Group boosted their target price on shares of Oracle from $270.00 to $360.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Citigroup reaffirmed an "outperform" rating on shares of Oracle in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $296.84.

Insider Buying and Selling

In other news, Director Naomi O. Seligman sold 3,303 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total value of $770,655.96. Following the completion of the transaction, the director owned 31,447 shares in the company, valued at $7,337,214.04. This represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael D. Sicilia sold 15,880 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $254.48, for a total transaction of $4,041,142.40. Following the completion of the transaction, the insider owned 99,212 shares of the company's stock, valued at $25,247,469.76. This trade represents a 13.80% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,183 shares of company stock valued at $10,353,198. 42.20% of the stock is owned by corporate insiders.

Oracle Stock Down 5.1%

Shares of Oracle stock traded down $15.79 on Friday, hitting $292.07. The company had a trading volume of 51,618,969 shares, compared to its average volume of 20,941,788. The firm has a market capitalization of $820.38 billion, a P/E ratio of 67.61, a P/E/G ratio of 4.10 and a beta of 1.46. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $345.72. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.62 and a quick ratio of 0.75. The stock has a 50-day moving average of $244.69 and a 200-day moving average of $190.50.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.06. The company had revenue of $15.90 billion during the quarter, compared to analysts' expectations of $15.58 billion. Oracle had a net margin of 21.08% and a return on equity of 72.93%. The business's quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.63 earnings per share. Research analysts predict that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 9th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, October 9th. Oracle's dividend payout ratio is 46.30%.

About Oracle

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.