Fulton Bank N.A. cut its stake in shares of Oracle Co. (NYSE:ORCL – Get Rating) by 5.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,091 shares of the enterprise software provider’s stock after selling 466 shares during the quarter. Fulton Bank N.A.’s holdings in Oracle were worth $566,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Steward Financial Group LLC acquired a new stake in Oracle in the 1st quarter valued at $33,000. Ulland Investment Advisors LLC grew its holdings in shares of Oracle by 469.0% during the first quarter. Ulland Investment Advisors LLC now owns 404 shares of the enterprise software provider’s stock valued at $33,000 after buying an additional 333 shares during the last quarter. Bivin & Associates Inc. bought a new stake in shares of Oracle during the fourth quarter worth about $35,000. Western Pacific Wealth Management LP acquired a new stake in shares of Oracle in the 4th quarter worth about $43,000. Finally, Life Planning Partners Inc bought a new position in Oracle in the 4th quarter valued at about $44,000. 41.92% of the stock is currently owned by institutional investors and hedge funds.
Oracle Trading Down 2.0 %
ORCL opened at $68.83 on Friday. The company has a 50 day moving average of $75.12 and a 200 day moving average of $74.84. Oracle Co. has a 12 month low of $63.76 and a 12 month high of $106.34. The company has a market cap of $185.54 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 2.13 and a beta of 0.87.
Oracle Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Wednesday, October 12th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Tuesday, October 11th. Oracle’s payout ratio is 60.95%.
In related news, insider Edward Screven sold 419,174 shares of the company’s stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $69.22, for a total transaction of $29,015,224.28. Following the sale, the insider now owns 2,492,613 shares of the company’s stock, valued at approximately $172,538,671.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Safra Catz sold 980,000 shares of Oracle stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $69.80, for a total transaction of $68,404,000.00. Following the completion of the sale, the chief executive officer now owns 1,118,592 shares in the company, valued at approximately $78,077,721.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Edward Screven sold 419,174 shares of the company’s stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $69.22, for a total transaction of $29,015,224.28. Following the completion of the transaction, the insider now owns 2,492,613 shares in the company, valued at $172,538,671.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,399,174 shares of company stock worth $164,289,224. 39.10% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
ORCL has been the subject of a number of recent research reports. The Goldman Sachs Group reissued a “sell” rating and set a $75.00 price objective on shares of Oracle in a report on Monday, June 27th. BMO Capital Markets increased their price target on Oracle from $86.00 to $90.00 and gave the company a “market perform” rating in a research report on Tuesday, September 13th. Cowen cut their price objective on shares of Oracle from $107.00 to $98.00 and set an “outperform” rating on the stock in a report on Thursday, June 9th. Evercore ISI increased their target price on shares of Oracle from $78.00 to $87.00 and gave the company an “in-line” rating in a report on Tuesday, September 13th. Finally, Citigroup set a $81.00 price target on shares of Oracle in a report on Monday, June 20th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $89.17.
Oracle Corporation offers 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 Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.
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