CIBC Private Wealth Group LLC Sells 4,580 Shares of Oracle Co. (NYSE:ORCL)

CIBC Private Wealth Group LLC lowered its position in shares of Oracle Co. (NYSE:ORCL – Get Rating) by 1.1% during the third quarter, HoldingsChannel reports. The fund owned 416,906 shares of the enterprise software provider’s stock after selling 4,580 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Oracle were worth $25,461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. McClarren Financial Advisors Inc. acquired a new position in Oracle during the 3rd quarter worth about $28,000. FSC Wealth Advisors LLC acquired a new position in Oracle during the 3rd quarter worth about $29,000. Pacifica Partners Inc. lifted its stake in shares of Oracle by 108.9% in the 3rd quarter. Pacifica Partners Inc. now owns 401 shares of the enterprise software provider’s stock valued at $29,000 after purchasing an additional 209 shares during the period. Cowa LLC acquired a new position in shares of Oracle in the 3rd quarter valued at about $30,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in shares of Oracle in the 3rd quarter valued at about $31,000. 40.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Oracle

In other Oracle news, Director Rona Alison Fairhead sold 8,080 shares of the stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $89.82, for a total transaction of $725,745.60. Following the completion of the transaction, the director now directly owns 11,197 shares of the company’s stock, valued at $1,005,714.54. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 43.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ORCL has been the topic of a number of recent analyst reports. KeyCorp boosted their price objective on Oracle from $94.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, January 18th. StockNews.com raised Oracle from a “hold” rating to a “buy” rating in a research note on Friday, March 10th. JPMorgan Chase & Co. set a $93.00 price objective on Oracle and gave the company an “overweight” rating in a research note on Friday, March 10th. Societe Generale downgraded Oracle from a “buy” rating to a “hold” rating in a research note on Friday, March 10th. They noted that the move was a valuation call. Finally, Evercore ISI boosted their price objective on Oracle from $87.00 to $95.00 in a research note on Friday, March 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $95.06.

Oracle Stock Down 0.4 %

ORCL stock opened at $84.56 on Wednesday. The firm has a market cap of $228.00 billion, a PE ratio of 27.91, a P/E/G ratio of 2.66 and a beta of 1.02. The business has a 50 day moving average of $87.68 and a 200-day moving average of $79.28. Oracle Co. has a 12-month low of $60.78 and a 12-month high of $91.22.

Oracle (NYSE:ORCL – Get Rating) last released its earnings results on Thursday, March 9th. The enterprise software provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.02. The company had revenue of $12.40 billion during the quarter, compared to analyst estimates of $12.42 billion. Oracle had a negative return on equity of 262.40% and a net margin of 17.46%. Oracle’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 earnings per share. On average, research analysts expect that Oracle Co. will post 3.95 earnings per share for the current year.

Oracle Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 24th. Shareholders of record on Tuesday, April 11th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.89%. This is a positive change from Oracle’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Monday, April 10th. Oracle’s dividend payout ratio is 52.81%.

About Oracle

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Oracle Corp. engages in the provision of products and services that address all aspects of corporate information technology environments. It operates through the following business segments: Cloud and License, Hardware, and Services. The Cloud and License segment markets, sells, and delivers applications, platform, and infrastructure technologies.