Allstate Corp Has $8.23 Million Stock Holdings in Oracle Co. (NYSE:ORCL)

Allstate Corp grew its position in shares of Oracle Co. (NYSE:ORCL) by 3,233.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,395 shares of the enterprise software provider’s stock after acquiring an additional 47,913 shares during the quarter. Allstate Corp’s holdings in Oracle were worth $8,231,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Howard Capital Management Group LLC boosted its position in Oracle by 12.4% during the third quarter. Howard Capital Management Group LLC now owns 8,019 shares of the enterprise software provider’s stock valued at $1,366,000 after purchasing an additional 883 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Oracle by 5.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,416,362 shares of the enterprise software provider’s stock worth $411,748,000 after purchasing an additional 121,874 shares in the last quarter. United Bank boosted its holdings in shares of Oracle by 4.8% in the 3rd quarter. United Bank now owns 11,430 shares of the enterprise software provider’s stock valued at $1,948,000 after buying an additional 519 shares during the last quarter. Financial Counselors Inc. grew its stake in shares of Oracle by 14.4% in the third quarter. Financial Counselors Inc. now owns 30,534 shares of the enterprise software provider’s stock valued at $5,203,000 after buying an additional 3,843 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in Oracle by 178.2% during the third quarter. Hantz Financial Services Inc. now owns 230,687 shares of the enterprise software provider’s stock worth $39,309,000 after acquiring an additional 147,767 shares in the last quarter. 42.44% of the stock is owned by institutional investors.

Insider Transactions at Oracle

In other news, CEO Safra Catz sold 345,174 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $185.56, for a total value of $64,050,487.44. Following the completion of the transaction, the chief executive officer now directly owns 1,118,592 shares in the company, valued at approximately $207,565,931.52. This represents a 23.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 42.20% of the company’s stock.

Oracle Stock Performance

NYSE ORCL opened at $140.75 on Friday. The firm’s 50 day simple moving average is $163.94 and its 200 day simple moving average is $170.12. The firm has a market capitalization of $393.67 billion, a price-to-earnings ratio of 34.41, a P/E/G ratio of 3.46 and a beta of 1.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.65. Oracle Co. has a 1 year low of $112.78 and a 1 year high of $198.31.

Oracle (NYSE:ORCL) last issued its earnings results on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.02). Oracle had a net margin of 21.16% and a return on equity of 133.25%. The business had revenue of $14.13 billion during the quarter, compared to analyst estimates of $14.40 billion. During the same period in the prior year, the business posted $1.41 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, research analysts expect that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.50 per share. This is an increase from Oracle’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. This represents a $2.00 annualized dividend and a yield of 1.42%. Oracle’s payout ratio is presently 46.95%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ORCL. Evercore ISI decreased their price objective on shares of Oracle from $200.00 to $185.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. BNP Paribas upgraded Oracle to a “strong-buy” rating in a report on Tuesday, December 10th. Piper Sandler dropped their price objective on Oracle from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. BMO Capital Markets decreased their target price on Oracle from $205.00 to $175.00 and set a “market perform” rating on the stock in a report on Tuesday, March 11th. Finally, Royal Bank of Canada set a $145.00 price target on Oracle and gave the company a “sector perform” rating in a report on Tuesday, March 11th. Thirteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $179.20.

Oracle Profile

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.