Oracle Corporation (NYSE:ORCL) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its stake in Oracle Corporation (NYSE:ORCL - Free Report) by 3.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 909,165 shares of the enterprise software provider's stock after selling 33,643 shares during the period. M&T Bank Corp's holdings in Oracle were worth $127,110,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ORCL. Harel Insurance Investments & Financial Services Ltd. lifted its position in Oracle by 71.6% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 257,378 shares of the enterprise software provider's stock valued at $35,984,000 after buying an additional 107,404 shares in the last quarter. Rockland Trust Co. lifted its holdings in shares of Oracle by 4.8% during the 1st 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 in the last quarter. Calamos Advisors LLC increased its holdings in Oracle by 1.5% in the 1st quarter. Calamos Advisors LLC now owns 711,290 shares of the enterprise software provider's stock valued at $99,445,000 after purchasing an additional 10,426 shares in the last quarter. Cornerstone Advisory LLC increased its holdings in Oracle by 34.1% in the 4th quarter. Cornerstone Advisory LLC now owns 12,968 shares of the enterprise software provider's stock valued at $2,258,000 after purchasing an additional 3,299 shares in the last quarter. Finally, Peak Retirement Planning Inc. purchased a new position in Oracle in the fourth quarter valued at about $211,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Oracle

In related news, EVP Maria Smith sold 10,000 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $232.99, for a total value of $2,329,900.00. Following the sale, the executive vice president owned 40,807 shares of the company's stock, valued at $9,507,622.93. This trade represents a 19.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leon E. Panetta sold 17,500 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $151.24, for a total transaction of $2,646,700.00. Following the completion of the sale, the director directly owned 58,090 shares in the company, valued at approximately $8,785,531.60. This trade represents a 23.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 450,366 shares of company stock valued at $85,433,503 over the last three months. 42.20% of the stock is currently owned by company insiders.

Oracle Stock Performance

ORCL traded down $0.49 on Wednesday, hitting $234.01. 3,761,994 shares of the company's stock were exchanged, compared to its average volume of 10,208,400. The firm has a market cap of $657.29 billion, a PE ratio of 53.79, a P/E/G ratio of 3.48 and a beta of 1.39. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $241.44. The stock has a fifty day moving average of $181.86 and a two-hundred day moving average of $165.14. 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 (NYSE:ORCL - Get Free Report) last announced its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.06. The business had revenue of $15.90 billion for the quarter, compared to analysts' expectations of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The business's quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.63 EPS. On average, research analysts anticipate that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.85%. The ex-dividend date is Thursday, July 10th. Oracle's dividend payout ratio is presently 46.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Roth Capital reiterated a "hold" rating on shares of Oracle in a research note on Wednesday, June 18th. Cantor Fitzgerald dropped their price objective on shares of Oracle from $214.00 to $175.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 11th. Bank of America upped their target price on shares of Oracle from $156.00 to $220.00 and gave the company a "neutral" rating in a research note on Thursday, June 12th. UBS Group set a $250.00 price target on shares of Oracle and gave the company a "buy" rating in a report on Wednesday, June 25th. Finally, JMP Securities set a $240.00 price objective on shares of Oracle and gave the stock a "market outperform" rating in a report on Thursday, June 12th. Ten equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $204.15.

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.