Oracle Corporation (NYSE:ORCL) Shares Sold by Stonebridge Capital Management Inc.

Key Points

• Stonebridge Capital Management Inc. has reduced its stake in Oracle Corporation by 6.3%, now holding 77,513 shares valued at approximately $10.84 million.
• Oracle Corp reported quarterly earnings of $1.70 EPS for the period, exceeding analysts' expectations and showing an 11.3% increase in revenue year over year.
• The stock has seen recent price target increases from various brokerages, with Bank of America raising it from $220 to $295, maintaining a "neutral" rating.

Stonebridge Capital Management Inc. reduced its stake in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 6.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,513 shares of the enterprise software provider's stock after selling 5,175 shares during the quarter. Oracle accounts for 4.7% of Stonebridge Capital Management Inc.'s portfolio, making the stock its 4th largest position. Stonebridge Capital Management Inc.'s holdings in Oracle were worth $10,837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new stake in shares of Oracle in the first quarter valued at $27,000. Inlight Wealth Management LLC acquired a new stake in shares of Oracle in the first quarter valued at $28,000. Iron Horse Wealth Management LLC increased its stake in shares of 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 buying an additional 151 shares in the last quarter. Sunbeam Capital Management LLC acquired a new stake in shares of Oracle in the fourth quarter valued at $30,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Oracle in the fourth quarter valued at $36,000. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Oracle Stock Up 0.3%

Shares of Oracle stock opened at $250.04 on Friday. The firm has a market cap of $702.32 billion, a PE ratio of 57.61, a P/E/G ratio of 3.72 and a beta of 1.43. Oracle Corporation has a 52-week low of $118.86 and a 52-week high of $260.87. The business's 50 day simple moving average is $222.64 and its 200 day simple moving average is $177.85. 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 announced its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.06. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The company had revenue of $15.90 billion for the quarter, compared to analysts' expectations of $15.58 billion. During the same quarter in the prior year, the business posted $1.63 EPS. The business's revenue was up 11.3% compared to the same quarter last year. On average, analysts predict that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.8%. Oracle's dividend payout ratio is currently 46.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ORCL. DA Davidson raised their target price on Oracle from $140.00 to $170.00 and gave the company a "neutral" rating in a research note on Thursday, June 12th. Bank of America raised their price target on Oracle from $220.00 to $295.00 and gave the company a "neutral" rating in a report on Tuesday. TD Cowen raised their price target on Oracle from $275.00 to $325.00 and gave the company a "buy" rating in a report on Wednesday. Royal Bank Of Canada raised their price target on Oracle from $145.00 to $195.00 and gave the company a "sector perform" rating in a report on Thursday, June 12th. Finally, Evercore ISI raised their price target on Oracle from $215.00 to $270.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Nine equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $222.75.

Insider Activity at Oracle

In related news, EVP Maria Smith sold 10,000 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 40,807 shares of the company's stock, valued at approximately $9,507,622.93. The trade was a 19.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Clayton M. Magouyrk sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total value of $3,211,500.00. Following the transaction, the insider directly owned 60,722 shares in the company, valued at $13,000,580.20. The trade was a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 444,183 shares of company stock worth $86,521,198. Insiders own 42.20% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.