Canoe Financial LP Lowers Stake in Oracle Corporation

Canoe Financial LP has decreased its investment in Oracle Corporation (NYSE:ORCL - Free Report) by 2.0% during the fourth quarter, as indicated in its latest 13F filing with the SEC. Following the sale of 2,411 shares within that period, the fund now holds 120,398 shares of the enterprise software giant. The total value of Canoe Financial LP's stake in Oracle stands at approximately $20,063,000 according to this disclosure.

Recent activities from other institutional investors also show notable changes in their positions regarding Oracle shares. For instance, International Assets Investment Management LLC made a significant move by increasing its stake by an astonishing 16,023.4% in the third quarter, acquiring 2,052,275 shares. This brought their total to 2,065,083 shares valued at around $351,890,000.

Similarly, Franklin Resources Inc. raised its holdings by 11.6% during the third quarter, resulting in ownership of 18,480,384 shares, which is valued at approximately $3,370,640,000 after an additional purchase of 1,917,416 shares.

State Street Corp also expanded its position, increasing its stake by 2.7% and owning 70,441,556 shares valued at roughly $12,003,241,000 after acquiring an additional 1,847,561 shares in the last quarter. Altshuler Shaham Ltd made a remarkable increase of 5,853.1% in the second quarter, bringing their total to 1,552,580 shares valued at $219,224,000 after buying another 1,526,500 shares.

Furthermore, Geode Capital Management LLC raised its stake by 2.6% during the third quarter, now holding 35,194,683 shares worth about $5,977,015,000 following the acquisition of an additional 885,041 shares. Currently, institutional investors and hedge funds collectively own 42.44% of Oracle's shares.

Oracle Stock Performance

On Friday, shares of ORCL opened at $161.05. The stock possesses a fifty-day simple moving average of $176.00 alongside a 200-day simple moving average of $161.21. The enterprise software firm experienced a one-year low of $106.51 while its one-year high reached $198.31. With a market capitalization of $450.44 billion, Oracle holds a price-to-earnings ratio of 39.38, a P/E/G ratio of 3.03, and a beta of 1.06. Its debt-to-equity ratio is 5.65, and both the current and quick ratios stand at 0.81.

Dividend and Earnings Announcements

Recently, Oracle declared a quarterly dividend which was distributed on Thursday, January 9th. Shareholders registered on January 23rd received a dividend of $0.40 per share, leading to an annualized dividend of $1.60, giving a yield of 0.99%. The ex-dividend date was set for January 10th. Notably, Oracle's dividend payout ratio is at 39.12%.

Price Target Adjustments by Analysts

A variety of brokerages have offered updated valuations for Oracle. KeyCorp raised its price target from $190.00 to $200.00 while maintaining an "overweight" rating in a report released on November 15th. Likewise, Piper Sandler increased its target from $185.00 to $210.00, also keeping an "overweight" rating in a note dated December 10th.

Evercore ISI adjusted its price objective for Oracle from $190.00 to $200.00, marking it with an "outperform" rating in a December 10th research report. Additionally, DA Davidson shifted its target price from $140.00 to $150.00, rating the company as "neutral" in a report on the same day. Mizuho also raised its price target for Oracle from $185.00 to $210.00, continuing to assign the stock an "outperform" rating.

Overall, one analyst provides a sell rating, ten recommend holding, eighteen suggest buying, and two recommend a strong buy for Oracle. According to MarketBeat data, the average rating is categorized as "Moderate Buy," with an average price target of $182.73.

Company Profile: Oracle Corporation

Oracle Corporation offers a comprehensive range of products and services targeting enterprise information technology environments globally. Its Oracle cloud software includes various applications such as Oracle Fusion cloud ERP, Oracle Fusion cloud human capital management, and Oracle Cerner healthcare, among others.

Canoe, Oracle, Investment