Oracle Corporation (NYSE:ORCL) Shares Sold by Tower Bridge Advisors

Key Points

• Tower Bridge Advisors has reduced its holdings in Oracle Corporation by 2.6%, now owning 185,362 shares valued at approximately $25.9 million, representing 2.9% of their portfolio.
• Several analysis upgrades have recently occurred, with Piper Sandler increasing its target price for Oracle from $190 to $270 and a consensus price target now standing at $218.29.
• Oracle's latest earnings report revealed $1.70 earnings per share, surpassing the expectation of $1.64, alongside an 11.3% increase in revenue year-over-year.

Tower Bridge Advisors lessened its position in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 2.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 185,362 shares of the enterprise software provider's stock after selling 4,867 shares during the period. Oracle comprises 2.9% of Tower Bridge Advisors' investment portfolio, making the stock its 5th biggest holding. Tower Bridge Advisors' holdings in Oracle were worth $25,915,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Oracle by 0.4% in the fourth quarter. FMR LLC now owns 38,002,902 shares of the enterprise software provider's stock valued at $6,332,803,000 after acquiring an additional 156,269 shares in the last quarter. Geode Capital Management LLC boosted its stake in Oracle by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 35,814,302 shares of the enterprise software provider's stock worth $5,954,961,000 after purchasing an additional 619,619 shares during the period. Northern Trust Corp boosted its stake in Oracle by 12.5% during the 4th quarter. Northern Trust Corp now owns 19,620,534 shares of the enterprise software provider's stock worth $3,269,566,000 after purchasing an additional 2,176,892 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Oracle by 20.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,825,360 shares of the enterprise software provider's stock worth $2,303,858,000 after buying an additional 2,350,448 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Oracle by 4.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,046,273 shares of the enterprise software provider's stock worth $1,340,830,000 after buying an additional 335,352 shares during the period. Institutional investors and hedge funds own 42.44% of the company's stock.

Insider Activity at Oracle

In other news, EVP Maria Smith sold 10,000 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president owned 40,807 shares in the company, valued at approximately $9,507,622.93. This trade represents a 19.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rona Alison Fairhead purchased 480 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were purchased at an average cost of $233.87 per share, with a total value of $112,257.60. Following the completion of the acquisition, the director owned 22,110 shares in the company, valued at approximately $5,170,865.70. This represents a 2.22% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 448,669 shares of company stock valued at $85,555,309 over the last three months. Insiders own 42.20% of the company's stock.

Oracle Trading Up 0.2%

NYSE:ORCL traded up $0.56 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 market cap of $703.72 billion, a price-to-earnings ratio of 57.73, a P/E/G ratio of 3.73 and a beta of 1.39. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 0.75. The firm's fifty day moving average is $209.84 and its two-hundred day moving average is $173.44. Oracle Corporation has a 12-month low of $118.86 and a 12-month high of $253.07.

Oracle (NYSE:ORCL - Get Free Report) last posted its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. The business had revenue of $15.90 billion during the quarter, compared to analyst estimates of $15.58 billion. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The company's revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.63 earnings per share. Equities analysts expect that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Thursday, July 10th. Oracle's dividend payout ratio (DPR) is 46.08%.

Analyst Upgrades and Downgrades

ORCL has been the subject of several recent research reports. Loop Capital set a $135.00 price target on Oracle in a report on Tuesday, June 10th. Jefferies Financial Group raised their target price on shares of Oracle from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. The Goldman Sachs Group restated a "neutral" rating and issued a $195.00 price objective (up previously from $145.00) on shares of Oracle in a research report on Friday, June 13th. KeyCorp raised their price objective on shares of Oracle from $200.00 to $225.00 and gave the company an "overweight" rating in a research report on Thursday, June 12th. Finally, JPMorgan Chase & Co. raised their price target on Oracle from $135.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, June 12th. Nine equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently 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.