Reliance Trust Co. of Delaware cut its stake in shares of Oracle Corporation (NYSE:ORCL) by 4.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,840 shares of the enterprise software provider’s stock after selling 2,433 shares during the period. Reliance Trust Co. of Delaware’s holdings in Oracle Corporation were worth $2,900,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp raised its stake in Oracle Corporation by 1.0% during the 1st quarter. State Street Corp now owns 123,195,917 shares of the enterprise software provider’s stock valued at $5,495,769,000 after buying an additional 1,187,802 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Oracle Corporation by 2.9% during the 1st quarter. Bank of New York Mellon Corp now owns 53,750,832 shares of the enterprise software provider’s stock valued at $2,397,824,000 after buying an additional 1,521,879 shares during the last quarter. Harris Associates L P raised its stake in Oracle Corporation by 0.4% during the 1st quarter. Harris Associates L P now owns 41,561,715 shares of the enterprise software provider’s stock valued at $1,854,068,000 after buying an additional 156,122 shares during the last quarter. First Eagle Investment Management LLC raised its stake in Oracle Corporation by 3.7% during the 1st quarter. First Eagle Investment Management LLC now owns 41,235,175 shares of the enterprise software provider’s stock valued at $1,839,501,000 after buying an additional 1,467,144 shares during the last quarter. Finally, Macquarie Group Ltd. raised its stake in Oracle Corporation by 6,353.4% during the 1st quarter. Macquarie Group Ltd. now owns 18,640,774 shares of the enterprise software provider’s stock valued at $831,551,000 after buying an additional 18,351,920 shares during the last quarter. Institutional investors and hedge funds own 58.64% of the company’s stock.
A number of brokerages have weighed in on ORCL. UBS AG reiterated a “buy” rating and set a $52.00 target price (up from $48.00) on shares of Oracle Corporation in a research note on Thursday, June 22nd. They noted that the move was a valuation call. BMO Capital Markets boosted their target price on shares of Oracle Corporation from $48.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, June 22nd. Wedbush upgraded shares of Oracle Corporation from a “neutral” rating to an “outperform” rating and decreased their target price for the company from $56.00 to $44.00 in a research note on Thursday, June 22nd. Moffett Nathanson initiated coverage on shares of Oracle Corporation in a research report on Wednesday, September 6th. They set a “buy” rating and a $65.00 price objective for the company. Finally, Vetr raised shares of Oracle Corporation from a “strong sell” rating to a “sell” rating and set a $46.58 price objective for the company in a research report on Monday, September 18th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirty have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $53.33.
Oracle Corporation (ORCL) opened at 48.16 on Friday. Oracle Corporation has a 1-year low of $37.62 and a 1-year high of $53.14. The stock’s 50 day moving average is $49.85 and its 200-day moving average is $47.11. The company has a market capitalization of $199.22 billion, a P/E ratio of 21.79 and a beta of 1.05.
Oracle Corporation (NYSE:ORCL) last released its quarterly earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $9.21 billion for the quarter, compared to the consensus estimate of $9.03 billion. Oracle Corporation had a net margin of 25.34% and a return on equity of 20.55%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS. On average, analysts expect that Oracle Corporation will post $2.94 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 11th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Tuesday, October 10th. Oracle Corporation’s dividend payout ratio (DPR) is 33.19%.
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In other news, EVP W Corey West sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $51.39, for a total value of $7,708,500.00. Following the sale, the executive vice president now directly owns 177,988 shares of the company’s stock, valued at approximately $9,146,803.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Kurian sold 750,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $50.46, for a total transaction of $37,845,000.00. Following the completion of the sale, the insider now directly owns 783,533 shares in the company, valued at $39,537,075.18. The disclosure for this sale can be found here. Insiders sold a total of 1,712,500 shares of company stock worth $86,140,450 over the last three months. Insiders own 29.00% of the company’s stock.
Oracle Corporation Profile
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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