First National Trust Co Sells 4,356 Shares of Oracle Corporation (NYSE:ORCL)

Key Points

• First National Trust Co reduced its position in Oracle Corporation shares by 6.8%, selling 4,356 shares in the first quarter, resulting in ownership of 59,756 shares valued at approximately $8.35 million.
• Oracle reported a 1.70 EPS for the quarter, beating expectations, with revenue up 11.3% year-over-year, reaching $15.90 billion.
• The company announced a $0.50 quarterly dividend, translating to an annualized yield of 0.80%, with a payout ratio of about 46.08%.

First National Trust Co decreased its position in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 6.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,756 shares of the enterprise software provider's stock after selling 4,356 shares during the period. First National Trust Co's holdings in Oracle were worth $8,354,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Tredje AP fonden increased its stake in shares of Oracle by 1.7% in the 1st quarter. Tredje AP fonden now owns 214,550 shares of the enterprise software provider's stock valued at $29,996,000 after purchasing an additional 3,549 shares during the last quarter. Eastern Bank grew its stake in shares of Oracle by 27.2% in the first quarter. Eastern Bank now owns 364,253 shares of the enterprise software provider's stock worth $50,926,000 after purchasing an additional 77,862 shares during the last quarter. MMA Asset Management LLC bought a new stake in Oracle in the first quarter valued at approximately $233,000. Vestcor Inc boosted its stake in shares of Oracle by 9.8% in the 1st quarter. Vestcor Inc now owns 110,789 shares of the enterprise software provider's stock valued at $15,489,000 after purchasing an additional 9,857 shares during the last quarter. Finally, Brucke Financial Inc. boosted its position in Oracle by 1.9% during the first quarter. Brucke Financial Inc. now owns 4,967 shares of the enterprise software provider's stock valued at $699,000 after acquiring an additional 94 shares during the last quarter. 42.44% of the stock is owned by institutional investors.

Oracle Stock Performance

ORCL stock traded up $0.56 during trading on Wednesday, reaching $250.54. The stock had a trading volume of 8,386,083 shares, compared to its average volume of 11,441,882. 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 52 week low of $118.86 and a 52 week high of $253.07. The firm has a market cap of $703.72 billion, a PE ratio of 57.73, a PEG ratio of 3.73 and a beta of 1.39. The stock's 50 day moving average is $209.84 and its two-hundred day moving average is $173.44.

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

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Thursday, July 10th. Oracle's payout ratio is 46.08%.

Insider Transactions at Oracle

In other news, 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 transaction of $3,211,500.00. Following the transaction, the insider directly owned 60,722 shares of the company's stock, valued at approximately $13,000,580.20. This trade represents a 19.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Maria Smith sold 10,000 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total value of $2,329,900.00. Following the transaction, the executive vice president directly owned 40,807 shares in the company, valued at $9,507,622.93. The trade was a 19.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 448,669 shares of company stock worth $85,555,309. 42.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Westpark Capital increased their price target on Oracle from $195.00 to $246.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Scotiabank initiated coverage on Oracle in a research note on Thursday, July 17th. They set a "sector outperform" rating and a $300.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on Oracle from $135.00 to $185.00 and gave the company a "neutral" rating in a research note on Thursday, June 12th. KeyCorp increased their price target on shares of Oracle from $200.00 to $225.00 and gave the stock an "overweight" rating in a report on Thursday, June 12th. Finally, Piper Sandler upgraded shares of Oracle from a "neutral" rating to an "overweight" rating and increased their price target for the company from $190.00 to $270.00 in a research report on Thursday, July 10th. Nine research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.