Grove Bank & Trust Buys 6,100 Shares of Oracle Co. (NYSE:ORCL)

Grove Bank & Trust boosted its holdings in Oracle Co. (NYSE:ORCL - Free Report) by 21.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,418 shares of the enterprise software provider's stock after buying an additional 6,100 shares during the period. Grove Bank & Trust's holdings in Oracle were worth $4,812,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ORCL. Rockland Trust Co. lifted its stake in Oracle by 4.8% in the first 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 during the last quarter. Cornerstone Advisory LLC raised its stake in Oracle by 34.1% in the fourth quarter. Cornerstone Advisory LLC now owns 12,968 shares of the enterprise software provider's stock worth $2,258,000 after buying an additional 3,299 shares in the last quarter. Peak Retirement Planning Inc. bought a new position in Oracle in the fourth quarter worth about $211,000. Secure Asset Management LLC raised its stake in Oracle by 21.8% in the first quarter. Secure Asset Management LLC now owns 13,235 shares of the enterprise software provider's stock worth $1,850,000 after buying an additional 2,365 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in Oracle in the fourth quarter worth about $51,084,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ORCL has been the topic of a number of recent research reports. Bank of America upped their price objective on shares of Oracle from $156.00 to $220.00 and gave the stock a "neutral" rating in a report on Thursday, June 12th. UBS Group restated a "buy" rating and set a $225.00 price objective (up previously from $200.00) on shares of Oracle in a research report on Thursday, June 12th. Jefferies Financial Group increased their price target on shares of Oracle from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Citigroup reiterated an "outperform" rating on shares of Oracle in a research report on Thursday. Finally, Loop Capital set a $135.00 price objective on shares of Oracle in a research report on Tuesday, June 10th. Eleven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Oracle has an average rating of "Moderate Buy" and a consensus target price of $194.32.

Insider Transactions at Oracle

In related news, Director Naomi O. Seligman sold 2,866 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $149.53, for a total value of $428,552.98. Following the completion of the transaction, the director now directly owns 31,764 shares in the company, valued at $4,749,670.92. The trade was a 8.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Leon E. Panetta sold 5,000 shares of the business's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $129.77, for a total transaction of $648,850.00. Following the completion of the transaction, the director now owns 58,090 shares of the company's stock, valued at approximately $7,538,339.30. This represents a 7.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 427,366 shares of company stock valued at $80,183,723 in the last 90 days. Insiders own 42.20% of the company's stock.

Oracle Trading Down 2.0%

Shares of ORCL opened at $210.94 on Tuesday. Oracle Co. has a 1-year low of $118.86 and a 1-year high of $216.60. The company has a 50-day moving average of $154.61 and a 200 day moving average of $160.49. The firm has a market capitalization of $589.98 billion, a price-to-earnings ratio of 51.57, a PEG ratio of 3.46 and a beta of 1.32. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.81 and a quick ratio of 0.81.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.64 by $0.06. Oracle had a net margin of 21.16% and a return on equity of 133.25%. The business had revenue of $15.90 billion during the quarter, compared to analyst estimates of $15.58 billion. During the same quarter in the previous year, the business posted $1.63 EPS. The company's quarterly revenue was up 11.3% compared to the same quarter last year. On average, research analysts expect that Oracle Co. will post 5 EPS for the current year.

Oracle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, July 10th. Oracle's payout ratio is currently 46.08%.

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.

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