Glenview Trust co Purchases 1,600 Shares of Oracle Corporation $ORCL

Key Points

• Glenview Trust co has increased its holdings in Oracle Corporation by 1,600 shares, now owning a total of 286,379 shares, which accounts for 0.8% of its overall portfolio.
• Multiple hedge funds have made significant purchases in Oracle, with Brighton Jones LLC increasing its stake by 189.3% in the last quarter.
• A recent earnings report revealed Oracle's revenue reached $15.90 billion, exceeding analyst expectations, and the company declared a quarterly dividend of $0.50 per share.

Glenview Trust co increased its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 0.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 286,379 shares of the enterprise software provider's stock after purchasing an additional 1,600 shares during the quarter. Oracle makes up 0.8% of Glenview Trust co's investment portfolio, making the stock its 26th biggest holding. Glenview Trust co's holdings in Oracle were worth $40,039,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Oracle by 71.6% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 257,378 shares of the enterprise software provider's stock worth $35,984,000 after purchasing an additional 107,404 shares during the last quarter. Lockheed Martin Investment Management Co. boosted its position in Oracle by 4.3% during the first quarter. Lockheed Martin Investment Management Co. now owns 51,350 shares of the enterprise software provider's stock valued at $7,179,000 after acquiring an additional 2,110 shares during the last quarter. Nuveen LLC bought a new stake in Oracle during the first quarter valued at $732,692,000. Rockland Trust Co. boosted its position in Oracle by 4.8% during the first quarter. Rockland Trust Co. now owns 10,165 shares of the enterprise software provider's stock valued at $1,421,000 after acquiring an additional 467 shares during the last quarter. Finally, Calamos Advisors LLC boosted its position in Oracle by 1.5% during the first quarter. Calamos Advisors LLC now owns 711,290 shares of the enterprise software provider's stock valued at $99,445,000 after acquiring an additional 10,426 shares during the last quarter. Institutional investors own 42.44% of the company's stock.

Oracle Stock Down 5.1%

Shares of NYSE ORCL traded down $15.79 during trading on Friday, hitting $292.07. 51,618,969 shares of the company traded hands, compared to its average volume of 20,941,788. The business's fifty day moving average is $244.69 and its 200 day moving average is $190.50. Oracle Corporation has a fifty-two week low of $118.86 and a fifty-two week high of $345.72. The firm has a market capitalization of $820.38 billion, a price-to-earnings ratio of 67.61, a P/E/G ratio of 4.10 and a beta of 1.46. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.75 and a current ratio of 0.62.

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 net margin of 21.08% and a return on equity of 72.93%. The firm had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same quarter in the prior year, the business earned $1.63 earnings per share. The business's quarterly revenue was up 11.3% compared to the same quarter last year. Equities research analysts predict that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 9th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, October 9th. Oracle's dividend payout ratio is currently 46.30%.

Insider Buying and Selling

In related news, insider Michael D. Sicilia sold 15,880 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $254.48, for a total value of $4,041,142.40. Following the sale, the insider owned 99,212 shares in the company, valued at $25,247,469.76. This represents a 13.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Naomi O. Seligman sold 3,303 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $233.32, for a total transaction 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 represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,183 shares of company stock worth $10,353,198 over the last ninety days. Insiders own 42.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ORCL shares. Scotiabank reiterated an "outperform" rating on shares of Oracle in a report on Wednesday. Stifel Nicolaus lifted their target price on Oracle from $250.00 to $350.00 and gave the stock a "buy" rating in a report on Wednesday. Raymond James Financial reiterated a "strong-buy" rating on shares of Oracle in a report on Wednesday, June 18th. Melius Research lifted their target price on Oracle from $270.00 to $370.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Jefferies Financial Group lifted their target price on Oracle from $270.00 to $360.00 and gave the stock a "buy" rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $296.84.

Oracle Company 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.