Corundum Group Inc. Trims Stock Holdings in Oracle Corporation (NYSE:ORCL)

Corundum Group Inc. lessened its position in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 43.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,408 shares of the enterprise software provider's stock after selling 6,460 shares during the quarter. Corundum Group Inc.'s holdings in Oracle were worth $1,176,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in Oracle by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 157,411,949 shares of the enterprise software provider's stock worth $26,231,127,000 after purchasing an additional 2,296,069 shares during the period. FMR LLC boosted its stake in shares of Oracle by 0.4% in the fourth quarter. FMR LLC now owns 38,002,902 shares of the enterprise software provider's stock worth $6,332,803,000 after buying an additional 156,269 shares during the last quarter. Geode Capital Management LLC grew its holdings in Oracle by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 35,814,302 shares of the enterprise software provider's stock worth $5,954,961,000 after acquiring an additional 619,619 shares during the period. Franklin Resources Inc. grew its holdings in Oracle by 9.3% during the fourth quarter. Franklin Resources Inc. now owns 20,202,421 shares of the enterprise software provider's stock worth $3,366,531,000 after acquiring an additional 1,722,037 shares during the period. Finally, Northern Trust Corp lifted its holdings in Oracle by 12.5% in the fourth quarter. Northern Trust Corp now owns 19,620,534 shares of the enterprise software provider's stock valued at $3,269,566,000 after acquiring an additional 2,176,892 shares during the period. 42.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on ORCL. BMO Capital Markets upgraded Oracle from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $200.00 to $235.00 in a research report on Friday, June 13th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $240.00 price target (up previously from $200.00) on shares of Oracle in a report on Thursday, June 12th. Raymond James Financial reiterated a "strong-buy" rating on shares of Oracle in a research report on Wednesday, June 18th. Mizuho decreased their price target on shares of Oracle from $210.00 to $180.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, Jefferies Financial Group increased their target price on Oracle from $190.00 to $200.00 and gave the company a "buy" rating in a report on Monday, June 9th. Eleven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $196.74.

Insiders Place Their Bets

In other news, Director Leon E. Panetta sold 5,000 shares of Oracle stock in a transaction on Friday, April 11th. The shares were sold at an average price of $129.77, for a total value of $648,850.00. Following the transaction, the director now directly owns 58,090 shares of the company's stock, valued at $7,538,339.30. The trade was a 7.93% decrease in their position. 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 Oracle stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the completion of the transaction, the insider now owns 60,722 shares in the company, valued at approximately $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. Over the last 90 days, insiders have sold 442,366 shares of company stock valued at $83,395,223. 42.20% of the stock is currently owned by insiders.

Oracle Stock Up 4.0%

Shares of NYSE ORCL opened at $215.39 on Wednesday. The business has a 50-day moving average of $163.48 and a two-hundred day moving average of $161.64. The company has a market capitalization of $604.99 billion, a price-to-earnings ratio of 49.63, a price-to-earnings-growth ratio of 3.10 and a beta of 1.32. Oracle Corporation has a 1 year low of $118.86 and a 1 year high of $216.60. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 0.75.

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

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be paid a $0.50 dividend. The ex-dividend date is Thursday, July 10th. This represents a $2.00 annualized dividend and a yield of 0.93%. Oracle's dividend payout ratio is presently 46.08%.

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.

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