Oracle Corporation $ORCL Shares Sold by Logan Capital Management Inc.

Key Points

• Logan Capital Management Inc. reduced its stake in Oracle Corporation by 3.6%, selling 2,139 shares, and now holds 57,941 shares valued at approximately $8.1 million.
• Several institutional investors increased their holdings in Oracle, with Harel Insurance Investments boosting its stake by 71.6%, now owning 257,378 shares worth about $36 million.
• Oracle's stock has a current market capitalization of $670.7 billion, with an average price target from analysts set at $232.61, reflecting a consensus of "Moderate Buy."

Logan Capital Management Inc. lessened its stake in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 3.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,941 shares of the enterprise software provider's stock after selling 2,139 shares during the quarter. Logan Capital Management Inc.'s holdings in Oracle were worth $8,101,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Oracle by 71.6% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 257,378 shares of the enterprise software provider's stock worth $35,984,000 after acquiring an additional 107,404 shares in the last quarter. Lockheed Martin Investment Management Co. lifted its stake in shares of Oracle by 4.3% in the first quarter. Lockheed Martin Investment Management Co. now owns 51,350 shares of the enterprise software provider's stock worth $7,179,000 after acquiring an additional 2,110 shares in the last quarter. Nuveen LLC acquired a new position in shares of Oracle in the first quarter worth about $732,692,000. Rockland Trust Co. lifted its stake in shares of Oracle by 4.8% in the first quarter. Rockland Trust Co. now owns 10,165 shares of the enterprise software provider's stock worth $1,421,000 after acquiring an additional 467 shares in the last quarter. Finally, Calamos Advisors LLC lifted its stake in shares of Oracle by 1.5% in the first quarter. Calamos Advisors LLC now owns 711,290 shares of the enterprise software provider's stock worth $99,445,000 after acquiring an additional 10,426 shares in the last quarter. Institutional investors and hedge funds own 42.44% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Raymond James Financial reissued a "strong-buy" rating on shares of Oracle in a report on Wednesday, June 18th. Guggenheim boosted their price objective on Oracle from $220.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Oppenheimer reissued an "outperform" rating on shares of Oracle in a report on Wednesday, June 18th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $240.00 price objective (up from $200.00) on shares of Oracle in a report on Thursday, June 12th. Finally, DA Davidson boosted their price objective on Oracle from $140.00 to $170.00 and gave the company a "neutral" rating in a report on Thursday, June 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Oracle has an average rating of "Moderate Buy" and an average price target of $232.61.

Oracle Stock Up 2.6%

NYSE:ORCL opened at $238.78 on Tuesday. The firm has a market capitalization of $670.70 billion, a PE ratio of 55.02, a price-to-earnings-growth ratio of 3.47 and a beta of 1.46. The stock has a 50 day moving average of $239.78 and a 200-day moving average of $187.22. Oracle Corporation has a 52 week low of $118.86 and a 52 week high of $260.87. 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 issued 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 business had revenue of $15.90 billion during the quarter, compared to analyst estimates of $15.58 billion. During the same period in the prior 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. Analysts predict that Oracle Corporation will post 5 EPS for the current year.

Oracle Dividend Announcement

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

Insiders Place Their Bets

In other Oracle news, EVP Maria Smith sold 10,000 shares of the company'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 value of $2,329,900.00. Following the completion of the sale, the executive vice president directly owned 40,807 shares in the company, valued at $9,507,622.93. This represents a 19.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the sale, the insider owned 1,097,576 shares of the company's stock, valued at $209,000,421.92. This trade represents a 26.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 444,183 shares of company stock worth $86,521,198. 42.20% of the stock is owned by company insiders.

Oracle Company 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.

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