Canandaigua National Bank & Trust Co. Increases Stake in Oracle Corporation (NYSE:ORCL)

Canandaigua National Bank & Trust Co. grew its holdings in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,748 shares of the enterprise software provider's stock after acquiring an additional 1,331 shares during the quarter. Oracle accounts for approximately 1.1% of Canandaigua National Bank & Trust Co.'s holdings, making the stock its 17th biggest holding. Canandaigua National Bank & Trust Co.'s holdings in Oracle were worth $10,730,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Cookson Peirce & Co. Inc. lifted its position in Oracle by 4.4% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,423 shares of the enterprise software provider's stock valued at $237,000 after purchasing an additional 60 shares during the last quarter. Greenwood Gearhart Inc. increased its holdings in shares of Oracle by 1.2% in the 4th quarter. Greenwood Gearhart Inc. now owns 5,731 shares of the enterprise software provider's stock worth $955,000 after buying an additional 66 shares during the last quarter. WorthPointe LLC raised its position in shares of Oracle by 4.0% during the 4th quarter. WorthPointe LLC now owns 1,734 shares of the enterprise software provider's stock valued at $289,000 after buying an additional 67 shares in the last quarter. Stage Harbor Financial LLC lifted its holdings in shares of Oracle by 5.0% in the 4th quarter. Stage Harbor Financial LLC now owns 1,433 shares of the enterprise software provider's stock valued at $239,000 after acquiring an additional 68 shares during the last quarter. Finally, J. L. Bainbridge & Co. Inc. lifted its holdings in shares of Oracle by 5.5% in the 4th quarter. J. L. Bainbridge & Co. Inc. now owns 1,354 shares of the enterprise software provider's stock valued at $226,000 after acquiring an additional 70 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Clayton M. Magouyrk sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the completion of the sale, the insider owned 60,722 shares of the company's stock, valued at $13,000,580.20. This represents a 19.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Leon E. Panetta sold 17,500 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were 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 owned 58,090 shares of the company's stock, valued at approximately $8,785,531.60. This trade represents a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 442,366 shares of company stock worth $83,395,223 in the last quarter. 42.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Oracle from $135.00 to $185.00 and gave the stock a "neutral" rating in a research note on Thursday, June 12th. CIBC reissued a "buy" rating on shares of Oracle in a research report on Monday, June 9th. DA Davidson increased their price target on Oracle from $140.00 to $170.00 and gave the company a "neutral" rating in a report on Thursday, June 12th. Stephens began coverage on shares of Oracle in a research note on Wednesday, March 19th. They set an "equal weight" rating and a $167.00 price objective for the company. Finally, Oppenheimer reissued an "outperform" rating on shares of Oracle in a research note on Wednesday, June 18th. Ten research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $200.26.

Oracle Stock Up 0.2%

NYSE:ORCL traded up $0.49 during trading hours on Tuesday, reaching $219.12. The company's stock had a trading volume of 16,696,813 shares, compared to its average volume of 10,015,344. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $615.47 billion, a P/E ratio of 50.49, a price-to-earnings-growth ratio of 3.28 and a beta of 1.39. The stock has a 50 day moving average price of $170.34 and a two-hundred day moving average price of $162.47. Oracle Corporation has a 12 month low of $118.86 and a 12 month high of $228.22.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly 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 return on equity of 87.34% and a net margin of 21.68%. The firm had revenue of $15.90 billion during the quarter, compared to analyst estimates of $15.58 billion. During the same period in the previous year, the company posted $1.63 EPS. The business's revenue for the quarter was up 11.3% compared to the same quarter last year. Equities analysts predict that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, July 10th. Oracle's dividend payout ratio is currently 46.08%.

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.