Lord Abbett & CO. LLC Decreases Stock Holdings in Oracle Corporation (NYSE:ORCL)

Lord Abbett & CO. LLC decreased its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 16.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 833,028 shares of the enterprise software provider's stock after selling 159,756 shares during the quarter. Lord Abbett & CO. LLC's holdings in Oracle were worth $116,466,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ORCL. Greenwood Gearhart Inc. increased its position in shares of Oracle by 1.2% during the 4th quarter. Greenwood Gearhart Inc. now owns 5,731 shares of the enterprise software provider's stock valued at $955,000 after purchasing an additional 66 shares during the last quarter. Flynn Zito Capital Management LLC increased its position in shares of Oracle by 1.7% during 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 purchasing an additional 71 shares during the last quarter. Tiller Private Wealth Inc. increased its position in shares of Oracle by 4.6% during the 1st quarter. Tiller Private Wealth Inc. now owns 1,599 shares of the enterprise software provider's stock valued at $224,000 after purchasing an additional 71 shares during the last quarter. Private Wealth Management Group LLC increased its position in shares of Oracle by 14.9% during the 1st quarter. Private Wealth Management Group LLC now owns 556 shares of the enterprise software provider's stock valued at $78,000 after purchasing an additional 72 shares during the last quarter. Finally, Woodley Farra Manion Portfolio Management Inc. increased its position in shares of Oracle by 4.8% during the 1st quarter. Woodley Farra Manion Portfolio Management Inc. now owns 1,562 shares of the enterprise software provider's stock valued at $218,000 after purchasing an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 42.44% of the company's stock.

Insider Buying and Selling

In other news, insider Clayton M. Magouyrk sold 15,000 shares of Oracle stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the completion of the sale, the insider directly owned 60,722 shares in the company, valued at approximately $13,000,580.20. This trade represents a 19.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rona Alison Fairhead bought 480 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were acquired at an average price of $233.87 per share, with a total value of $112,257.60. Following the completion of the transaction, the director owned 22,110 shares of the company's stock, valued at approximately $5,170,865.70. The trade was a 2.22% increase in their position. The disclosure for this purchase can be found here. Insiders sold 444,183 shares of company stock valued at $86,521,198 over the last 90 days. 42.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on ORCL. Oppenheimer reaffirmed an "outperform" rating on shares of Oracle in a research report on Wednesday, June 18th. Westpark Capital upped their price target on shares of Oracle from $195.00 to $246.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Barclays reaffirmed an "overweight" rating and set a $221.00 price target (up previously from $202.00) on shares of Oracle in a research report on Friday, June 13th. UBS Group boosted their price objective on Oracle from $250.00 to $280.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, Piper Sandler upgraded Oracle from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $190.00 to $270.00 in a research note on Thursday, July 10th. Nine research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, Oracle presently has an average rating of "Moderate Buy" and a consensus target price of $222.75.

Oracle Stock Down 3.7%

Shares of ORCL opened at $244.40 on Thursday. The company has a market cap of $686.48 billion, a PE ratio of 56.31, a P/E/G ratio of 3.79 and a beta of 1.43. The business has a fifty day moving average of $227.58 and a 200 day moving average of $179.21. Oracle Corporation has a 52-week low of $118.86 and a 52-week high of $260.87. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07.

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

Oracle Announces Dividend

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

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.

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