DAVENPORT & Co LLC Grows Stock Position in Oracle Corporation (NYSE:ORCL)

DAVENPORT & Co LLC raised its holdings in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 14.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 956,642 shares of the enterprise software provider's stock after purchasing an additional 120,290 shares during the quarter. DAVENPORT & Co LLC's holdings in Oracle were worth $133,959,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Provident Co of the Employees of the Hebrew University LTD purchased a new stake in shares of Oracle in the first quarter valued at approximately $1,481,000. Summit Trail Advisors LLC raised its position in Oracle by 21.4% during the 1st quarter. Summit Trail Advisors LLC now owns 30,567 shares of the enterprise software provider's stock valued at $4,274,000 after purchasing an additional 5,395 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Oracle by 5.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 279,227 shares of the enterprise software provider's stock worth $39,039,000 after buying an additional 13,971 shares during the period. Vontobel Holding Ltd. grew its position in shares of Oracle by 39.1% during the 1st quarter. Vontobel Holding Ltd. now owns 471,384 shares of the enterprise software provider's stock worth $65,904,000 after buying an additional 132,501 shares in the last quarter. Finally, JNBA Financial Advisors increased its stake in shares of Oracle by 1.6% during the first quarter. JNBA Financial Advisors now owns 6,267 shares of the enterprise software provider's stock valued at $876,000 after buying an additional 100 shares during the period. 42.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citigroup reaffirmed an "outperform" rating on shares of Oracle in a research note on Thursday, June 12th. CIBC reaffirmed a "buy" rating on shares of Oracle in a research report on Monday, June 9th. The Goldman Sachs Group reiterated a "neutral" rating and set a $195.00 price objective (up from $145.00) on shares of Oracle in a research note on Friday, June 13th. Cowen reissued a "buy" rating on shares of Oracle in a research note on Thursday, June 12th. Finally, Roth Capital reaffirmed a "hold" rating on shares of Oracle in a research report on Wednesday, June 18th. Ten analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $200.26.

Oracle Stock Performance

ORCL stock traded up $0.49 during trading on Tuesday, reaching $219.12. The company had a trading volume of 16,696,813 shares, compared to its average volume of 10,001,534. The company has a market cap of $615.47 billion, a price-to-earnings ratio of 50.49, a price-to-earnings-growth ratio of 3.15 and a beta of 1.32. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $228.22. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a 50-day simple moving average of $170.34 and a 200-day simple moving average of $162.47.

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

Oracle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 0.91%. Oracle's dividend payout ratio is currently 46.08%.

Insider Transactions at Oracle

In other news, Vice Chairman Jeffrey Henley sold 400,000 shares of the stock in a transaction dated 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 directly owned 1,097,576 shares of the company's stock, valued at approximately $209,000,421.92. This represents a 26.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Naomi O. Seligman sold 2,866 shares of Oracle stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $149.53, for a total value of $428,552.98. Following the sale, the director directly owned 31,764 shares of the company's stock, valued at $4,749,670.92. This trade represents a 8.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 442,366 shares of company stock worth $83,395,223 in the last 90 days. 42.20% of the stock is owned by company insiders.

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.