Suvretta Capital Management LLC Has $40.40 Million Position in Oracle Co. (NYSE:ORCL)

Suvretta Capital Management LLC decreased its stake in Oracle Co. (NYSE:ORCL) by 3.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 237,094 shares of the enterprise software provider’s stock after selling 8,020 shares during the period. Oracle makes up 1.3% of Suvretta Capital Management LLC’s investment portfolio, making the stock its 29th biggest position. Suvretta Capital Management LLC’s holdings in Oracle were worth $40,401,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Activest Wealth Management increased its stake in shares of Oracle by 21.9% in the third quarter. Activest Wealth Management now owns 312 shares of the enterprise software provider’s stock worth $53,000 after buying an additional 56 shares during the period. Cadence Bank grew its holdings in Oracle by 0.8% in the 3rd quarter. Cadence Bank now owns 7,605 shares of the enterprise software provider’s stock worth $1,296,000 after acquiring an additional 59 shares during the last quarter. Eagle Rock Investment Company LLC increased its position in shares of Oracle by 0.4% in the third quarter. Eagle Rock Investment Company LLC now owns 17,626 shares of the enterprise software provider’s stock valued at $3,003,000 after acquiring an additional 64 shares during the period. W Advisors LLC raised its stake in shares of Oracle by 3.1% during the third quarter. W Advisors LLC now owns 2,158 shares of the enterprise software provider’s stock valued at $368,000 after acquiring an additional 64 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Oracle by 1.7% during the third quarter. Versant Capital Management Inc now owns 3,957 shares of the enterprise software provider’s stock worth $674,000 after purchasing an additional 65 shares during the period. 42.44% of the stock is currently owned by institutional investors.

Oracle Trading Down 4.0 %

Shares of NYSE ORCL opened at $182.70 on Friday. The firm’s 50 day moving average price is $177.10 and its 200-day moving average price is $151.11. Oracle Co. has a 52-week low of $99.26 and a 52-week high of $196.04. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market cap of $506.27 billion, a PE ratio of 47.09, a P/E/G ratio of 3.37 and a beta of 1.02.

Oracle (NYSE:ORCL) last issued its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.33 by $0.06. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The business had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. During the same period last year, the business posted $0.95 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts expect that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Thursday, October 10th. Oracle’s dividend payout ratio (DPR) is 41.24%.

Insider Buying and Selling at Oracle

In other Oracle news, EVP Maria Smith sold 6,320 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the completion of the sale, the executive vice president now directly owns 42,889 shares in the company, valued at approximately $7,076,685. The trade was a 12.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 42.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ORCL shares. Melius raised Oracle from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a research report on Monday, September 16th. DA Davidson upped their target price on Oracle from $105.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Oppenheimer reiterated a “market perform” rating on shares of Oracle in a report on Tuesday, September 10th. Stifel Nicolaus upped their price objective on shares of Oracle from $135.00 to $155.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Finally, JMP Securities lifted their target price on shares of Oracle from $175.00 to $205.00 and gave the company a “market outperform” rating in a research note on Friday, October 18th. Eleven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $169.52.

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.