US Bancorp DE reduced its position in shares of Oracle Co. (NYSE:ORCL) by 3.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,626,558 shares of the enterprise software provider’s stock after selling 51,350 shares during the quarter. US Bancorp DE’s holdings in Oracle were worth $92,665,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Boenning & Scattergood Inc. raised its position in Oracle by 119.3% in the first quarter. Boenning & Scattergood Inc. now owns 14,265 shares of the enterprise software provider’s stock worth $766,000 after acquiring an additional 7,761 shares during the period. Hedeker Wealth LLC raised its position in Oracle by 5.4% in the first quarter. Hedeker Wealth LLC now owns 56,014 shares of the enterprise software provider’s stock worth $2,694,000 after acquiring an additional 2,893 shares during the period. Butensky & Cohen Financial Security Inc. raised its position in Oracle by 4.1% in the first quarter. Butensky & Cohen Financial Security Inc. now owns 42,830 shares of the enterprise software provider’s stock worth $2,300,000 after acquiring an additional 1,680 shares during the period. Horan Capital Advisors LLC. bought a new stake in Oracle in the first quarter worth about $83,000. Finally, First Personal Financial Services increased its stake in shares of Oracle by 0.9% in the first quarter. First Personal Financial Services now owns 90,022 shares of the enterprise software provider’s stock worth $4,835,000 after purchasing an additional 846 shares in the last quarter. 53.05% of the stock is currently owned by institutional investors and hedge funds.
ORCL has been the subject of several recent research reports. Sanford C. Bernstein set a $66.00 target price on shares of Oracle and gave the stock a “buy” rating in a research note on Thursday. Jefferies Financial Group lifted their target price on shares of Oracle from $61.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Goldman Sachs Group set a $62.00 target price on shares of Oracle and gave the stock a “buy” rating in a research note on Thursday. BMO Capital Markets reiterated a “market perform” rating and issued a $60.00 target price (up previously from $59.00) on shares of Oracle in a research note on Thursday. Finally, JPMorgan Chase & Co. set a $56.00 target price on shares of Oracle and gave the stock a “neutral” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and eleven have issued a buy rating to the company. Oracle has a consensus rating of “Hold” and an average price target of $55.88.
ORCL stock traded down $0.15 during midday trading on Friday, reaching $53.75. The company had a trading volume of 8,680,180 shares, compared to its average volume of 9,948,703. The company has a debt-to-equity ratio of 2.31, a current ratio of 2.49 and a quick ratio of 2.49. Oracle Co. has a 1 year low of $42.40 and a 1 year high of $60.50. The company has a market capitalization of $185.04 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.62 and a beta of 1.18. The firm has a 50-day moving average price of $54.15 and a 200-day moving average price of $54.46.
Oracle (NYSE:ORCL) last released its quarterly earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.09. Oracle had a net margin of 28.06% and a return on equity of 40.95%. The business had revenue of $9.22 billion during the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the previous year, the company earned $0.71 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts predict that Oracle Co. will post 3.49 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.96 dividend on an annualized basis and a yield of 1.79%. Oracle’s dividend payout ratio is presently 30.38%.
In other news, CEO Mark V. Hurd sold 787,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $51.80, for a total value of $40,792,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,038,755 shares in the company, valued at approximately $53,807,509. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Naomi O. Seligman sold 90,000 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $59.52, for a total transaction of $5,356,800.00. Following the completion of the sale, the director now owns 82,310 shares of the company’s stock, valued at $4,899,091.20. The disclosure for this sale can be found here. In the last three months, insiders sold 2,140,000 shares of company stock valued at $117,501,425. Corporate insiders own 32.00% of the company’s stock.
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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