Carnegie Investment Counsel Has $4.52 Million Stake in Oracle Corporation (NYSE:ORCL)

Carnegie Investment Counsel lowered its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 12.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,201 shares of the enterprise software provider's stock after selling 5,228 shares during the period. Carnegie Investment Counsel's holdings in Oracle were worth $4,521,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Oracle by 71.6% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 257,378 shares of the enterprise software provider's stock worth $35,984,000 after acquiring an additional 107,404 shares in the last quarter. Rockland Trust Co. boosted its holdings in shares of Oracle by 4.8% in the 1st quarter. Rockland Trust Co. now owns 10,165 shares of the enterprise software provider's stock valued at $1,421,000 after buying an additional 467 shares in the last quarter. Calamos Advisors LLC boosted its holdings in shares of Oracle by 1.5% in the 1st quarter. Calamos Advisors LLC now owns 711,290 shares of the enterprise software provider's stock valued at $99,445,000 after buying an additional 10,426 shares in the last quarter. Cornerstone Advisory LLC boosted its holdings in shares of Oracle by 34.1% in the 4th quarter. Cornerstone Advisory LLC now owns 12,968 shares of the enterprise software provider's stock valued at $2,258,000 after buying an additional 3,299 shares in the last quarter. Finally, Peak Retirement Planning Inc. acquired a new position in shares of Oracle in the 4th quarter valued at $211,000. Institutional investors and hedge funds own 42.44% of the company's stock.

Insider Activity at Oracle

In other news, Vice Chairman Jeffrey Henley sold 400,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $190.42, for a total transaction of $76,168,000.00. Following the completion of the transaction, the insider owned 1,097,576 shares in the company, valued at approximately $209,000,421.92. This trade represents a 26.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Maria Smith sold 10,000 shares of Oracle stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total transaction 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 trade represents a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 448,669 shares of company stock worth $85,555,309. Company insiders own 42.20% of the company's stock.

Oracle Price Performance

ORCL traded up $2.22 on Friday, reaching $245.05. The company had a trading volume of 7,146,126 shares, compared to its average volume of 13,472,494. The company has a fifty day moving average of $204.42 and a 200-day moving average of $171.59. The company has a market capitalization of $688.31 billion, a P/E ratio of 56.46, a PEG ratio of 3.62 and a beta of 1.39. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. Oracle Corporation has a one year low of $118.86 and a one year high of $251.60.

Oracle (NYSE:ORCL - Get Free Report) last announced its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The firm had revenue of $15.90 billion during the quarter, compared to analyst estimates of $15.58 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. Oracle's revenue was up 11.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 0.82%. Oracle's dividend payout ratio (DPR) is 46.08%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. The Goldman Sachs Group reiterated a "neutral" rating and set a $195.00 price target (up previously from $145.00) on shares of Oracle in a research note on Friday, June 13th. JPMorgan Chase & Co. lifted their target price on shares of Oracle from $135.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, June 12th. CIBC reissued a "buy" rating on shares of Oracle in a report on Monday, June 9th. Piper Sandler raised shares of Oracle from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $190.00 to $270.00 in a report on Thursday, July 10th. Finally, Citigroup upgraded shares of Oracle from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 18th. Nine research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $218.29.

Oracle Company 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.