Carnegie Capital Asset Management LLC cut its holdings in Oracle Co. (NYSE:ORCL – Get Rating) by 14.0% during the 1st quarter, Holdings Channel reports. The firm owned 7,070 shares of the enterprise software provider’s stock after selling 1,150 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Oracle were worth $585,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Dynamic Advisor Solutions LLC grew its stake in shares of Oracle by 23.8% in the first quarter. Dynamic Advisor Solutions LLC now owns 8,078 shares of the enterprise software provider’s stock worth $668,000 after purchasing an additional 1,554 shares during the last quarter. Oakworth Capital Inc. lifted its holdings in Oracle by 6.8% in the first quarter. Oakworth Capital Inc. now owns 18,721 shares of the enterprise software provider’s stock worth $1,548,000 after buying an additional 1,191 shares during the period. Ridgewood Investments LLC lifted its holdings in Oracle by 15.5% in the first quarter. Ridgewood Investments LLC now owns 5,327 shares of the enterprise software provider’s stock worth $441,000 after buying an additional 714 shares during the period. Veriti Management LLC lifted its holdings in Oracle by 3.6% in the first quarter. Veriti Management LLC now owns 34,349 shares of the enterprise software provider’s stock worth $2,842,000 after buying an additional 1,208 shares during the period. Finally, Strategy Asset Managers LLC lifted its holdings in Oracle by 5.4% in the first quarter. Strategy Asset Managers LLC now owns 8,366 shares of the enterprise software provider’s stock worth $692,000 after buying an additional 432 shares during the period. 42.33% of the stock is currently owned by institutional investors.
Several brokerages have commented on ORCL. BNP Paribas lowered shares of Oracle from a “neutral” rating to an “underperform” rating and set a $79.00 price objective for the company. in a report on Tuesday, March 29th. Cowen lowered their target price on shares of Oracle from $107.00 to $98.00 and set an “outperform” rating for the company in a report on Thursday, June 9th. Exane BNP Paribas upgraded shares of Oracle from an “underperform” rating to a “neutral” rating in a report on Tuesday, March 29th. Wolfe Research lowered their target price on shares of Oracle from $105.00 to $83.00 in a report on Friday, March 11th. Finally, Barclays set a $82.00 target price on shares of Oracle in a report on Tuesday, June 14th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $90.13.
In other Oracle news, CEO Safra Catz sold 1,000,000 shares of the business’s stock in a transaction on Friday, June 17th. The shares were sold at an average price of $68.08, for a total value of $68,080,000.00. Following the sale, the chief executive officer now owns 1,118,592 shares in the company, valued at approximately $76,153,743.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Renee Jo James sold 6,000 shares of the business’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $84.11, for a total transaction of $504,660.00. Following the completion of the sale, the director now owns 41,886 shares in the company, valued at approximately $3,523,031.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,006,000 shares of company stock worth $135,454,660. 39.10% of the stock is owned by corporate insiders.
Shares of ORCL stock opened at $67.63 on Friday. Oracle Co. has a 1 year low of $63.76 and a 1 year high of $106.34. The firm has a fifty day moving average price of $71.96 and a 200-day moving average price of $79.47. The company has a market cap of $180.45 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 1.91 and a beta of 0.87.
Oracle (NYSE:ORCL – Get Rating) last issued its quarterly earnings data on Monday, June 13th. The enterprise software provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.17. Oracle had a net margin of 15.83% and a negative return on equity of 193.58%. The firm had revenue of $11.84 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter in the previous year, the firm posted $1.40 EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, sell-side analysts expect that Oracle Co. will post 4.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 26th. Investors of record on Tuesday, July 12th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Monday, July 11th. Oracle’s dividend payout ratio (DPR) is 53.33%.
Oracle Profile (Get Rating)
Oracle Corporation provides 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 Fusion cloud advertising and customer experience, and NetSuite applications suite.
See Also
Want to see what other hedge funds are holding ORCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oracle Co. (NYSE:ORCL – Get Rating).
Receive News & Ratings for Oracle Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Oracle and related companies with MarketBeat.com’s FREE daily email newsletter.
