Bard Financial Services Inc. Significantly Reduces Stake in Oracle Co. (NYSE:ORCL)

Bard Financial Services Inc. has reduced its holdings in Oracle Co. (NYSE:ORCL - Free Report) by a substantial 58.4% during the third quarter. According to the latest disclosure filed with the Securities and Exchange Commission (SEC), the fund now owns 27,250 shares of the software provider's stock after selling 38,330 shares throughout the quarter. Following this adjustment, Bard Financial Services Inc.'s investment in Oracle is valued at approximately $4,643,000.

Changes in Institutional Investments

Other institutional investors have also adjusted their stakes in Oracle recently. For instance, Great Valley Advisor Group Inc. expanded its holdings by 11.7% in the second quarter, acquiring an additional 1,678 shares to reach a total of 16,013 shares, valued at $2,261,000. ORG Partners LLC significantly increased its position in Oracle by 624.0%, obtaining an extra 5,791 shares and bringing its total to 6,719 shares worth $961,000. Additionally, Envestnet Portfolio Solutions Inc. boosted its holdings by 10.6%, now owning 139,571 shares valued at $19,707,000 after purchasing 13,412 shares. Cornerstone Wealth Management LLC raised its position by 2.8%, holding 3,952 shares worth $558,000 after acquiring 108 shares. Finally, Oak Ridge Investments LLC entered a new position with an investment approximately worth $235,000. Collectively, hedge funds and institutional investors control around 42.44% of Oracle's stock.

Insider Trading Activity

In related developments, Maria Smith, an executive vice president at Oracle, sold 6,320 shares on September 16th at an average price of $165.00, totaling $1,042,800. This sale reduced her stake by 12.84%, leaving her with 42,889 shares valued at around $7,076,685. Corporate insiders hold about 42.20% of the company's stock.

Analyst Recommendations

Several research firms provided updates on Oracle's stock. Stifel Nicolaus raised its price target from $155.00 to $175.00, maintaining a "hold" rating on the stock. Melius Research upgraded its recommendation from "hold" to "buy" shortly before, while Bank of America also increased its price target to $175.00 with a "neutral" rating. JMP Securities reiterated a "market outperform" rating with a target of $205.00. TD Cowen set a target of $180.00, upgrading from the previous $165.00, maintaining a "buy" rating as well. In total, twelve analysts rate the stock as "hold," while eighteen consider it a "buy," leading to an average rating of "Moderate Buy" along with a target price of $181.48.

Oracle's Stock Performance Overview

Oracle stock opened at $178.88 on Wednesday, showcasing a 52-week low of $99.26 and a high of $198.31. The company's market capitalization stands at $495.69 billion, with a P/E ratio of 45.81 and a PEG ratio of 3.49. Its beta is 1.03, and the stock has simple moving averages of $179.76 over fifty days and $154.67 over two hundred days. The firm has a quick ratio of 0.72 and a current ratio of 0.72, with high debt-to-equity ratio at 6.68.

Recent Earnings Announcement

Oracle most recently announced its quarterly earnings data, reporting $1.47 EPS for the previous quarter, slightly missing the consensus estimate of $1.48. The company's return on equity was recorded at 171.38% with a net margin of 20.40%. Revenue was reported at $14.06 billion, marginally below analyst predictions of $14.12 billion. Compared to the previous year's quarter, revenue increased by 8.6%. Analysts predict Oracle will post an EPS of 5.06 for the current fiscal year.

Dividend Announcement by Oracle

Oracle has also recently revealed a quarterly dividend to be paid on January 23rd to shareholders recorded as of January 9th, amounting to $0.40 per share. This leads to an annualized dividend of $1.60, yielding 0.89%. The current payout ratio stands at 41.24%.

About Oracle Corporation

Oracle Corporation is a leading provider of products and services aimed at enhancing enterprise information technology environments globally. Its cloud software offerings include a variety of applications such as the Oracle Fusion Cloud suite for enterprise resource planning, human capital management, and healthcare, among others.

Oracle, Investors, Stock