Canoe Financial LP Decreases Oracle Co. Holdings by 2%

Canoe Financial LP has reported a reduction in its holdings of Oracle Co. (NYSE:ORCL - Free Report) by 2.0% during the fourth quarter, based on its latest 13F filing with the U.S. Securities and Exchange Commission (SEC). Following this adjustment, the fund now holds 120,398 shares of Oracle, having sold 2,411 shares in the past quarter. According to the filing, Canoe Financial LP's stake in Oracle is valued at approximately $20,063,000.

Institutional Investor Activity

Several other institutional investors have also made changes to their positions in Oracle. Notably, International Assets Investment Management LLC significantly increased its stake by an impressive 16,023.4% in the third quarter, acquiring a total of 2,065,083 shares valued at around $351,890,000. Franklin Resources Inc. expanded its holdings by 11.6% during the same period, owning now 18,480,384 shares worth about $3,370,640,000 after adding 1,917,416 shares. Additionally, State Street Corp enhanced its position by 2.7%, holding 70,441,556 shares with a value of $12,003,241,000 after purchasing an additional 1,847,561 shares.

Meanwhile, Altshuler Shaham Ltd made a remarkable increase of 5,853.1% in its stake during the second quarter, owning 1,552,580 shares valued at $219,224,000 after acquiring 1,526,500 shares. Geode Capital Management LLC raised its investment by 2.6% in the third quarter, ending up with 35,194,683 shares valued at $5,977,015,000 after buying 885,041 additional shares. Overall, institutional investors and hedge funds currently control 42.44% of Oracle's stock.

Performance of Oracle Stock

On Friday, Oracle's stock (ORCL) opened at $161.05. The company boasts a 50-day simple moving average of $176.00 and a 200-day simple moving average of $161.21. Oracle's stock has experienced a one-year low of $106.51 and a high of $198.31. Additionally, as of the latest report, Oracle's market capitalization stands at $450.44 billion, with a price-to-earnings ratio of 39.38 and a P/E/G ratio of 3.03. The company has a high debt-to-equity ratio of 5.65, alongside a current ratio and quick ratio of 0.81.

Recent Earnings and Dividends

Oracle recently disclosed its quarterly earnings, which were announced on December 9th. For the quarter, the company reported earnings per share (EPS) of $1.47, falling short of the consensus estimate of $1.48. Revenue for the quarter totaled $14.06 billion, slightly below analyst expectations of $14.12 billion. Despite the quarter's challenges, Oracle managed a year-over-year revenue growth of 8.6%, compared to $1.34 EPS reported in the previous year. Analysts project that Oracle will generate EPS of 5.01 for the current fiscal year.

Furthermore, the company has recently declared a quarterly dividend that was paid out on January 9th to shareholders of record on January 23rd, with a dividend of $0.40 per share. This translates to an annualized dividend of $1.60 with a yield of 0.99%. The ex-dividend date was noted as January 10th, and Oracle's dividend payout ratio is reported at 39.12%.

Price Targets Adjusted by Analysts

Several financial analysts have provided new price targets for Oracle following recent evaluations. KeyCorp increased its price target from $190.00 to $200.00, rating the stock as “overweight” on November 15th. Piper Sandler raised its target from $185.00 to $210.00 in a research note published on December 10th, also rating the stock as “overweight.” Still on December 10th, Evercore ISI increased their price objective from $190.00 to $200.00, marking an