Grove Bank & Trust Raises Position in Oracle Co. (NYSE:ORCL)

Grove Bank & Trust boosted its position in Oracle Co. (NYSE:ORCL) by 15.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,994 shares of the enterprise software provider’s stock after buying an additional 1,636 shares during the quarter. Grove Bank & Trust’s holdings in Oracle were worth $580,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Acrospire Investment Management LLC grew its stake in Oracle by 947.4% in the second quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after purchasing an additional 1,800 shares in the last quarter. Burt Wealth Advisors grew its stake in Oracle by 4.3% in the second quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after purchasing an additional 88 shares in the last quarter. ETF Managers Group LLC bought a new position in Oracle in the second quarter valued at approximately $133,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its stake in Oracle by 17.4% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,702 shares of the enterprise software provider’s stock valued at $135,000 after purchasing an additional 400 shares in the last quarter. Finally, Monroe Bank & Trust MI grew its stake in Oracle by 30.5% in the second quarter. Monroe Bank & Trust MI now owns 2,885 shares of the enterprise software provider’s stock valued at $144,000 after purchasing an additional 675 shares in the last quarter. 57.77% of the stock is currently owned by institutional investors and hedge funds.

Shares of Oracle Co. (ORCL) opened at $48.49 on Wednesday. The firm has a market capitalization of $200,730.00, a P/E ratio of 20.81, a P/E/G ratio of 1.82 and a beta of 1.08. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.04 and a current ratio of 5.07. Oracle Co. has a fifty-two week low of $40.75 and a fifty-two week high of $53.14.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The business had revenue of $9.63 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $0.61 EPS. analysts predict that Oracle Co. will post 2.68 earnings per share for the current year.

Oracle declared that its board has approved a share repurchase program on Thursday, December 14th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the enterprise software provider to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th were issued a $0.19 dividend. The ex-dividend date was Tuesday, January 9th. This represents a $0.76 annualized dividend and a yield of 1.57%. Oracle’s dividend payout ratio is presently 32.62%.

In other Oracle news, Director Naomi O. Seligman sold 45,000 shares of Oracle stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $51.34, for a total value of $2,310,300.00. Following the completion of the transaction, the director now directly owns 62,498 shares of the company’s stock, valued at approximately $3,208,647.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction on Friday, December 15th. The shares were sold at an average price of $48.40, for a total value of $181,500.00. Following the completion of the transaction, the director now directly owns 18,125 shares of the company’s stock, valued at $877,250. The disclosure for this sale can be found here. Insiders sold a total of 1,952,500 shares of company stock valued at $98,130,250 over the last ninety days. Insiders own 29.00% of the company’s stock.

ORCL has been the subject of a number of analyst reports. UBS Group set a $55.00 price target on Oracle and gave the company a “neutral” rating in a research note on Friday, December 15th. Vetr upgraded Oracle from a “hold” rating to a “strong-buy” rating and set a $60.60 price target for the company in a research note on Thursday, November 2nd. BidaskClub upgraded Oracle from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 27th. Oppenheimer restated a “hold” rating on shares of Oracle in a research note on Friday, December 15th. Finally, Royal Bank of Canada raised their price target on Oracle to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, December 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirty have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $55.39.

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Oracle 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.

Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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