Welch & Forbes LLC reduced its position in Oracle Corporation (NYSE:ORCL) by 39.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,664 shares of the enterprise software provider’s stock after selling 102,128 shares during the period. Welch & Forbes LLC’s holdings in Oracle Corporation were worth $6,944,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wedgewood Investors Inc. PA purchased a new stake in Oracle Corporation during the first quarter worth $202,000. Whittier Trust Co. boosted its stake in Oracle Corporation by 1.3% in the first quarter. Whittier Trust Co. now owns 438,206 shares of the enterprise software provider’s stock worth $19,548,000 after buying an additional 5,711 shares during the period. BTC Capital Management Inc. boosted its stake in Oracle Corporation by 2.8% in the first quarter. BTC Capital Management Inc. now owns 54,579 shares of the enterprise software provider’s stock worth $2,433,000 after buying an additional 1,488 shares during the period. First Merchants Corp boosted its stake in Oracle Corporation by 1.3% in the first quarter. First Merchants Corp now owns 78,430 shares of the enterprise software provider’s stock worth $3,498,000 after buying an additional 985 shares during the period. Finally, iAB Financial Bank boosted its stake in Oracle Corporation by 4.5% in the first quarter. iAB Financial Bank now owns 23,193 shares of the enterprise software provider’s stock worth $1,035,000 after buying an additional 991 shares during the period. Institutional investors own 58.53% of the company’s stock.
Oracle Corporation (NYSE ORCL) opened at 50.95 on Friday. The stock has a 50 day moving average of $45.18 and a 200-day moving average of $42.67. The company has a market cap of $209.64 billion, a price-to-earnings ratio of 24.10 and a beta of 1.13. Oracle Corporation has a 52-week low of $37.62 and a 52-week high of $51.83.
Oracle Corporation (NYSE:ORCL) last released its quarterly earnings data on Wednesday, June 21st. The enterprise software provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.78 by $0.11. The company had revenue of $10.94 billion during the quarter, compared to the consensus estimate of $10.45 billion. Oracle Corporation had a return on equity of 20.90% and a net margin of 24.74%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.81 EPS. On average, analysts forecast that Oracle Corporation will post $2.92 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 2nd. Stockholders of record on Wednesday, July 19th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, July 17th. Oracle Corporation’s payout ratio is presently 34.55%.
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A number of analysts recently weighed in on the stock. BidaskClub raised shares of Oracle Corporation from a “hold” rating to a “buy” rating in a report on Friday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $47.00 price objective on shares of Oracle Corporation in a report on Friday. Argus raised shares of Oracle Corporation from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Friday. Drexel Hamilton reaffirmed a “buy” rating and issued a $62.00 price objective (up previously from $53.00) on shares of Oracle Corporation in a report on Thursday. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $52.00 price objective (up previously from $47.00) on shares of Oracle Corporation in a report on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $49.58.
In other news, EVP John F. Fowler sold 250,000 shares of the stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $44.66, for a total value of $11,165,000.00. Following the completion of the sale, the executive vice president now owns 269,645 shares of the company’s stock, valued at approximately $12,042,345.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Safra Catz sold 394,081 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $45.01, for a total value of $17,737,585.81. Following the completion of the sale, the chief executive officer now directly owns 855,941 shares of the company’s stock, valued at approximately $38,525,904.41. The disclosure for this sale can be found here. In the last three months, insiders sold 1,155,618 shares of company stock valued at $51,862,829. 29.00% of the stock is currently owned by insiders.
About Oracle Corporation
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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