Arrow Financial Corp Sells 11,287 Shares of Oracle Corporation (NYSE:ORCL)

Arrow Financial Corp lessened its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 24.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,776 shares of the enterprise software provider's stock after selling 11,287 shares during the quarter. Arrow Financial Corp's holdings in Oracle were worth $5,002,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sunbeam Capital Management LLC bought a new stake in Oracle during the 4th quarter worth about $30,000. Hurley Capital LLC bought a new stake in Oracle during the 4th quarter worth about $33,000. Redmont Wealth Advisors LLC bought a new stake in Oracle during the 1st quarter worth about $27,000. Inlight Wealth Management LLC bought a new stake in Oracle during the 1st quarter worth about $28,000. Finally, Iron Horse Wealth Management LLC grew its holdings in Oracle by 284.9% during the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock worth $29,000 after acquiring an additional 151 shares during the last quarter. Institutional investors and hedge funds own 42.44% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on ORCL. DA Davidson increased their price objective on shares of Oracle from $140.00 to $170.00 and gave the stock a "neutral" rating in a report on Thursday, June 12th. 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. Jefferies Financial Group raised their target price on shares of Oracle from $190.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Oracle in a research note on Wednesday, June 18th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Oracle from $135.00 to $185.00 and gave the stock a "neutral" rating in a research note on Thursday, June 12th. Nine research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Oracle currently has a consensus rating of "Moderate Buy" and an average price target of $218.29.

Insiders Place Their Bets

In related news, Vice Chairman Jeffrey Henley sold 400,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $190.42, for a total value of $76,168,000.00. Following the sale, the insider directly owned 1,097,576 shares in the company, valued at $209,000,421.92. This represents a 26.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Maria Smith sold 10,000 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 40,807 shares in the company, valued at $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 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 Price Performance

ORCL traded down $1.97 on Monday, hitting $243.48. 7,261,988 shares of the stock were exchanged, compared to its average volume of 10,358,342. Oracle Corporation has a 12 month low of $118.86 and a 12 month high of $251.60. The business has a 50-day moving average of $196.21 and a two-hundred day moving average of $168.97. 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 has a market capitalization of $683.89 billion, a price-to-earnings ratio of 50.50, a PEG ratio of 3.66 and a beta of 1.39.

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, 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 business had revenue of $15.90 billion during the quarter, compared to analysts' expectations of $15.58 billion. During the same quarter in the prior year, the business posted $1.63 earnings per share. Oracle's revenue was up 11.3% compared to the same quarter last year. Sell-side analysts forecast that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

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 paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.82%. The ex-dividend date 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.