Commerce Bank Acquires 12,433 Shares of Oracle Corporation (NYSE:ORCL)

Key Points

• Commerce Bank increased its position in Oracle Corporation by 3.2%, owning 404,450 shares valued at approximately $56.5 million after acquiring an additional 12,433 shares.
• Oracle's quarterly earnings exceeded expectations, reporting $1.70 earnings per share on revenues of $15.90 billion, which is an 11.3% increase year-over-year.
• The company declared a quarterly dividend of $0.50 per share, representing an annualized dividend of $2.00 and a dividend yield of 0.8%.

Commerce Bank grew its stake in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 3.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 404,450 shares of the enterprise software provider's stock after buying an additional 12,433 shares during the period. Commerce Bank's holdings in Oracle were worth $56,546,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling

In other news, Vice Chairman Jeffrey Henley sold 400,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $190.42, for a total value of $76,168,000.00. Following the transaction, the insider owned 1,097,576 shares in the company, valued at $209,000,421.92. This trade represents a 26.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Clayton M. Magouyrk sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total value of $3,211,500.00. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 431,169 shares of company stock valued at $82,908,609. 42.20% of the stock is currently owned by company insiders.

Oracle Stock Down 3.7%

Oracle stock traded down $9.33 during mid-day trading on Friday, reaching $244.44. The stock had a trading volume of 12,500,927 shares, compared to its average volume of 10,602,974. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. Oracle Corporation has a fifty-two week low of $118.86 and a fifty-two week high of $260.87. The stock's 50-day simple moving average is $213.55 and its 200-day simple moving average is $174.74. The firm has a market capitalization of $686.59 billion, a PE ratio of 56.32, a price-to-earnings-growth ratio of 3.79 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 EPS 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 firm had revenue of $15.90 billion during the quarter, compared to analysts' expectations of $15.58 billion. During the same quarter last year, the firm posted $1.63 earnings per share. The company's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, sell-side analysts forecast that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

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

Analyst Ratings Changes

ORCL has been the topic of a number of research reports. Loop Capital set a $135.00 price objective on Oracle in a report on Tuesday, June 10th. Piper Sandler upgraded Oracle from a "neutral" rating to an "overweight" rating and upped their target price for the company from $190.00 to $270.00 in a research report on Thursday, July 10th. Mizuho dropped their price objective on Oracle from $210.00 to $180.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. The Goldman Sachs Group restated a "neutral" rating and set a $195.00 price objective (up from $145.00) on shares of Oracle in a research report on Friday, June 13th. Finally, CIBC reiterated a "buy" rating on shares of Oracle in a research report on Monday, June 9th. Nine research 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $218.29.

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.