BOCHK Asset Management Ltd Has $336,000 Stake in Oracle Corporation (NYSE:ORCL)

BOCHK Asset Management Ltd cut its position in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 96.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,400 shares of the enterprise software provider's stock after selling 60,700 shares during the quarter. Oracle accounts for 0.2% of BOCHK Asset Management Ltd's portfolio, making the stock its 25th largest position. BOCHK Asset Management Ltd's holdings in Oracle were worth $336,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new stake in shares of Oracle during the first quarter worth $27,000. Inlight Wealth Management LLC acquired a new stake in shares of Oracle during the first quarter worth $28,000. Sunbeam Capital Management LLC acquired a new stake in shares of Oracle during the fourth quarter worth $30,000. Hurley Capital LLC acquired a new stake in shares of Oracle during the fourth quarter worth $33,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Oracle during the fourth quarter worth $36,000. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Oracle

In other news, insider Clayton M. Magouyrk sold 15,000 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total value of $3,211,500.00. Following the transaction, the insider directly owned 60,722 shares in the company, valued at $13,000,580.20. This trade represents a 19.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Leon E. Panetta sold 17,500 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $151.24, for a total value of $2,646,700.00. Following the completion of the transaction, the director owned 58,090 shares in the company, valued at $8,785,531.60. This represents a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 440,366 shares of company stock valued at $83,103,603 over the last 90 days. 42.20% of the stock is currently owned by corporate insiders.

Oracle Price Performance

Shares of ORCL traded up $3.04 during mid-day trading on Tuesday, reaching $235.30. The company had a trading volume of 6,851,048 shares, compared to its average volume of 10,176,001. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $241.18. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 0.75. The company's 50-day moving average is $179.98 and its 200-day moving average is $164.65. The company has a market capitalization of $660.91 billion, a P/E ratio of 54.22, a P/E/G ratio of 3.55 and a beta of 1.39.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.64 by $0.06. The business had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. Oracle's revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.63 EPS. On average, equities analysts anticipate that Oracle Corporation will post 5 EPS for the current year.

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be given a $0.50 dividend. The ex-dividend date is Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 0.85%. Oracle's payout ratio is 46.08%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $240.00 price target (up from $200.00) on shares of Oracle in a research report on Thursday, June 12th. Citigroup reissued an "outperform" rating on shares of Oracle in a research report on Thursday, June 12th. Bank of America upped their price target on Oracle from $156.00 to $220.00 and gave the company a "neutral" rating in a research report on Thursday, June 12th. Stephens initiated coverage on Oracle in a research report on Wednesday, March 19th. They set an "equal weight" rating and a $167.00 price target on the stock. Finally, BMO Capital Markets boosted their target price on Oracle from $235.00 to $245.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Ten research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Oracle has a consensus rating of "Moderate Buy" and a consensus price target of $204.15.

Oracle Profile

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.