Bath Savings Trust Co Reduces Holdings in Oracle Co. (NYSE:ORCL)

Bath Savings Trust Co trimmed its holdings in shares of Oracle Co. (NYSE:ORCL) by 3.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,485 shares of the enterprise software provider’s stock after selling 250 shares during the period. Bath Savings Trust Co’s holdings in Oracle were worth $891,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. grew its stake in Oracle by 1.4% in the 1st quarter. BlackRock Inc. now owns 117,130,967 shares of the enterprise software provider’s stock worth $10,883,809,000 after acquiring an additional 1,618,027 shares during the period. State Street Corp grew its stake in Oracle by 2.6% in the 1st quarter. State Street Corp now owns 62,586,810 shares of the enterprise software provider’s stock worth $5,815,566,000 after acquiring an additional 1,570,528 shares during the period. Geode Capital Management LLC grew its stake in Oracle by 0.5% in the 1st quarter. Geode Capital Management LLC now owns 27,753,778 shares of the enterprise software provider’s stock worth $2,572,592,000 after acquiring an additional 136,383 shares during the period. FMR LLC boosted its holdings in shares of Oracle by 12.2% in the 1st quarter. FMR LLC now owns 24,369,890 shares of the enterprise software provider’s stock valued at $2,264,450,000 after purchasing an additional 2,644,377 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Oracle by 9.6% in the 4th quarter. Morgan Stanley now owns 20,502,544 shares of the enterprise software provider’s stock valued at $1,675,878,000 after purchasing an additional 1,794,080 shares during the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on ORCL. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Oracle from $120.00 to $135.00 in a report on Tuesday, June 13th. UBS Group dropped their price target on shares of Oracle from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, September 12th. VNET Group reaffirmed a “maintains” rating on shares of Oracle in a research note on Tuesday, June 13th. DA Davidson dropped their price target on shares of Oracle from $115.00 to $104.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 12th. Finally, JPMorgan Chase & Co. lowered shares of Oracle from an “overweight” rating to a “neutral” rating and cut their target price for the company from $112.00 to $100.00 in a research note on Wednesday, September 13th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $123.06.

Oracle Stock Down 1.6 %

Shares of Oracle stock traded down $1.82 during midday trading on Monday, reaching $112.09. 4,866,119 shares of the company’s stock traded hands, compared to its average volume of 9,118,487. The company has a market cap of $307.11 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 2.97 and a beta of 1.00. The company’s 50 day simple moving average is $117.28 and its 200 day simple moving average is $106.40. The company has a debt-to-equity ratio of 29.72, a quick ratio of 0.91 and a current ratio of 0.87. Oracle Co. has a 52 week low of $60.78 and a 52 week high of $127.54.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Monday, September 11th. The enterprise software provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04. The company had revenue of $12.45 billion for the quarter, compared to analyst estimates of $12.48 billion. Oracle had a net margin of 18.40% and a negative return on equity of 3,631.39%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $0.81 EPS. Equities analysts expect that Oracle Co. will post 4.49 earnings per share for the current fiscal year.

Oracle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 26th. Investors of record on Thursday, October 12th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Wednesday, October 11th. Oracle’s dividend payout ratio is currently 47.62%.

Insider Activity at Oracle

In other Oracle news, insider Edward Screven sold 354,837 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $123.39, for a total value of $43,783,337.43. Following the completion of the transaction, the insider now directly owns 2,543,033 shares of the company’s stock, valued at $313,784,841.87. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Chairman Lawrence Joseph Ellison sold 1,750,000 shares of Oracle stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $123.10, for a total transaction of $215,425,000.00. Following the completion of the sale, the chairman now owns 1,145,732,353 shares in the company, valued at approximately $141,039,652,654.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Edward Screven sold 354,837 shares of Oracle stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $123.39, for a total transaction of $43,783,337.43. Following the sale, the insider now owns 2,543,033 shares of the company’s stock, valued at approximately $313,784,841.87. The disclosure for this sale can be found here. Insiders sold 3,949,837 shares of company stock valued at $482,142,887 in the last ninety days. Insiders own 43.70% of the company’s stock.

About Oracle

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 Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.