Bank of Nova Scotia Trust Co. cut its stake in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 32.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,337 shares of the enterprise software provider's stock after selling 4,566 shares during the quarter. Bank of Nova Scotia Trust Co.'s holdings in Oracle were worth $1,305,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ORCL. Redmont Wealth Advisors LLC acquired a new stake in shares of Oracle in the first quarter valued at $27,000. Inlight Wealth Management LLC acquired a new stake in shares of Oracle in the first quarter valued at $28,000. Iron Horse Wealth Management LLC raised its holdings in Oracle by 284.9% during the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock worth $29,000 after purchasing an additional 151 shares during the last quarter. Sunbeam Capital Management LLC bought a new stake in Oracle during the 4th quarter worth about $30,000. Finally, Hurley Capital LLC bought a new stake in Oracle during the 4th quarter worth about $33,000. 42.44% of the stock is owned by institutional investors.
Oracle Trading Down 3.7%
Shares of Oracle stock opened at $244.44 on Friday. Oracle Corporation has a 12-month low of $118.86 and a 12-month high of $260.87. The stock has a market cap of $686.59 billion, a P/E ratio of 56.32, a P/E/G ratio of 3.79 and a beta of 1.43. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07. The business's 50 day moving average is $213.55 and its 200-day moving average is $174.74.
Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The business had revenue of $15.90 billion for the quarter, compared to analysts' expectations of $15.58 billion. During the same quarter in the prior year, the business earned $1.63 EPS. The firm's revenue for the quarter was up 11.3% on a year-over-year basis. Equities research analysts predict that Oracle Corporation will post 5 earnings per share for the current fiscal year.
Oracle Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, July 10th. Oracle's dividend payout ratio is 46.08%.
Insiders Place Their Bets
In other Oracle news, Director Naomi O. Seligman sold 3,303 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $233.32, for a total value of $770,655.96. Following the transaction, the director directly owned 31,447 shares of the company's stock, valued at $7,337,214.04. This represents a 9.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Maria Smith sold 10,000 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total value of $2,329,900.00. Following the completion of the transaction, the executive vice president directly owned 40,807 shares in the company, valued at approximately $9,507,622.93. This represents a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 431,169 shares of company stock worth $82,908,609 in the last quarter. Company insiders own 42.20% of the company's stock.
Analysts Set New Price Targets
ORCL has been the subject of several recent research reports. Stifel Nicolaus raised Oracle from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $180.00 to $250.00 in a report on Monday, June 30th. TD Cowen boosted their price objective on Oracle from $250.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Westpark Capital boosted their target price on Oracle from $195.00 to $246.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Citigroup upgraded Oracle from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 18th. Finally, KeyCorp boosted their target price on Oracle from $200.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday, June 12th. Nine analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $218.29.
View Our Latest Report on ORCL
Oracle Profile
(
Free Report)
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.
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