Comerica Bank Buys 8,907 Shares of Oracle Corporation $ORCL

Key Points

• Comerica Bank increased its stake in Oracle Corporation by 1.7%, acquiring an additional 8,907 shares, bringing their total holdings to 537,492 shares valued at approximately $75.1 million.
• Oracle's recent quarterly earnings report revealed earnings per share of $1.70, surpassing analysts' estimates, with a revenue of $15.90 billion, representing an 11.3% year-over-year increase.
• Insider activities included the sale of 3,303 shares by Director Naomi O. Seligman and 15,000 shares by insider Clayton M. Magouyrk, with significant decreases in their stock ownership percentage following these transactions.

Comerica Bank grew its stake in Oracle Corporation (NYSE:ORCL - Free Report) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 537,492 shares of the enterprise software provider's stock after acquiring an additional 8,907 shares during the quarter. Comerica Bank's holdings in Oracle were worth $75,147,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ORCL. Brighton Jones LLC grew its holdings in shares of Oracle by 189.3% in the 4th quarter. Brighton Jones LLC now owns 153,580 shares of the enterprise software provider's stock valued at $25,593,000 after buying an additional 100,494 shares during the period. Revolve Wealth Partners LLC lifted its holdings in Oracle by 8.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,418 shares of the enterprise software provider's stock worth $903,000 after acquiring an additional 404 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in Oracle by 0.4% in the fourth quarter. Coldstream Capital Management Inc. now owns 71,281 shares of the enterprise software provider's stock valued at $11,878,000 after acquiring an additional 299 shares during the period. Gilder Gagnon Howe & Co. LLC increased its holdings in shares of Oracle by 193.3% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 82,558 shares of the enterprise software provider's stock worth $13,757,000 after acquiring an additional 54,411 shares in the last quarter. Finally, Virtus ETF Advisers LLC raised its position in shares of Oracle by 4.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 6,668 shares of the enterprise software provider's stock worth $1,111,000 after purchasing an additional 299 shares during the period. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Oracle news, Director Naomi O. Seligman sold 3,303 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total value of $770,655.96. Following the completion of the sale, the director owned 31,447 shares in the company, valued at $7,337,214.04. This trade represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Clayton M. Magouyrk sold 15,000 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the transaction, the insider owned 60,722 shares in the company, valued at $13,000,580.20. This represents a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 444,183 shares of company stock worth $86,521,198 in the last quarter. 42.20% of the stock is owned by company insiders.

Oracle Trading Up 1.3%

Shares of NYSE:ORCL opened at $236.1670 on Friday. The company's 50-day moving average price is $235.36 and its two-hundred day moving average price is $182.87. Oracle Corporation has a one year low of $118.86 and a one year high of $260.87. 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 stock has a market capitalization of $663.35 billion, a PE ratio of 54.42, a price-to-earnings-growth ratio of 3.53 and a beta of 1.43.

Oracle (NYSE:ORCL - Get Free Report) last announced its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.06. Oracle had a return on equity of 87.34% and a net margin of 21.68%.The company had revenue of $15.90 billion during the quarter, compared to analysts' expectations of $15.58 billion. During the same quarter last year, the company earned $1.63 EPS. Oracle's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts forecast that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.8%. Oracle's dividend payout ratio is currently 46.08%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. The Goldman Sachs Group reiterated a "neutral" rating and issued a $195.00 price objective (up from $145.00) on shares of Oracle in a research report on Friday, June 13th. BMO Capital Markets upped their price target on shares of Oracle from $235.00 to $245.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. JMP Securities raised their price objective on shares of Oracle from $240.00 to $315.00 and gave the stock a "market outperform" rating in a report on Friday, July 18th. CIBC reaffirmed a "buy" rating on shares of Oracle in a research note on Monday, June 9th. Finally, Citigroup upgraded Oracle from a "hold" rating to a "strong-buy" rating in a report on Friday, July 18th. Three analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $227.04.

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.

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