Itau Unibanco Holding S.A. Sells 4,394 Shares of Oracle Corporation $ORCL

Key Points

• Itau Unibanco Holding S.A. reduced its stake in Oracle Corporation by 29.3%, selling 4,394 shares and holding 10,600 shares worth approximately $1.48 million at the end of the quarter.
• Major equity analysts recently raised their target prices for Oracle shares, with estimates ranging from $221 to $300 and a consensus rating of "Moderate Buy."
• Insider selling was notable, with Michael D. Sicilia selling 15,880 shares for over $4 million, reducing his ownership by 13.80%.

Itau Unibanco Holding S.A. reduced its position in Oracle Corporation (NYSE:ORCL - Free Report) by 29.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,600 shares of the enterprise software provider's stock after selling 4,394 shares during the quarter. Itau Unibanco Holding S.A.'s holdings in Oracle were worth $1,482,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Sunbeam Capital Management LLC bought a new position in shares of Oracle in the fourth quarter valued at approximately $30,000. Redmont Wealth Advisors LLC purchased a new stake in Oracle in the first quarter valued at approximately $27,000. Inlight Wealth Management LLC purchased a new stake in Oracle in the first quarter valued at approximately $28,000. Iron Horse Wealth Management LLC raised its stake in Oracle by 284.9% in the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock valued at $29,000 after purchasing an additional 151 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new stake in Oracle in the fourth quarter valued at approximately $36,000. 42.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets raised their target price on shares of Oracle from $235.00 to $245.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Mizuho raised their target price on shares of Oracle from $245.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, August 15th. Barclays reaffirmed an "overweight" rating and issued a $221.00 target price (up from $202.00) on shares of Oracle in a research note on Friday, June 13th. Evercore ISI raised their target price on shares of Oracle from $215.00 to $270.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Oracle in a research note on Wednesday, June 18th. Three analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $227.04.

Insider Buying and Selling

In related news, insider Michael D. Sicilia sold 15,880 shares of Oracle stock in a transaction on 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 transaction, the insider directly owned 99,212 shares of the company's stock, valued at $25,247,469.76. The trade was a 13.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Maria Smith sold 10,000 shares of Oracle stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the completion of the transaction, the executive vice president directly owned 40,807 shares in the company, valued at approximately $9,507,622.93. The trade was a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 444,183 shares of company stock valued at $86,521,198 over the last quarter. Company insiders own 42.20% of the company's stock.

Oracle Trading Up 0.7%

ORCL stock opened at $235.87 on Thursday. The company has a market capitalization of $662.51 billion, a PE ratio of 54.35, a price-to-earnings-growth ratio of 3.50 and a beta of 1.43. Oracle Corporation has a one year low of $118.86 and a one year high of $260.87. The company's 50 day moving average price is $236.89 and its two-hundred day moving average price is $184.08. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75.

Oracle (NYSE:ORCL - Get Free Report) last issued its earnings results 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. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The company had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same period in the previous year, the firm earned $1.63 earnings per share. The firm's revenue for the quarter was up 11.3% on a year-over-year basis. As a group, analysts predict that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 10th. Oracle's payout ratio is presently 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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