RNC Capital Management LLC Sells 3,762 Shares of Oracle Corporation $ORCL

Key Points

• RNC Capital Management LLC has reduced its stake in Oracle Corporation by 12.5%, holding 26,406 shares valued at approximately $3.69 million after selling 3,762 shares in the first quarter.
• Wall Street analysts have expressed optimism about Oracle's stock, with price targets being raised by several firms, including Mizuho and UBS Group, reflecting an overall consensus rating of "Moderate Buy".
• Oracle recently announced a quarterly dividend of $0.50 per share, contributing to an annualized dividend yield of 0.9% with a payout ratio of 46.08%.

RNC Capital Management LLC lessened its stake in Oracle Corporation (NYSE:ORCL - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,406 shares of the enterprise software provider's stock after selling 3,762 shares during the quarter. RNC Capital Management LLC's holdings in Oracle were worth $3,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Clarkston Capital Partners LLC lifted its stake in shares of Oracle by 1.1% in the first quarter. Clarkston Capital Partners LLC now owns 6,290 shares of the enterprise software provider's stock worth $879,000 after buying an additional 68 shares in the last quarter. Tacita Capital Inc raised its holdings in Oracle by 6.0% in the 1st quarter. Tacita Capital Inc now owns 1,245 shares of the enterprise software provider's stock worth $174,000 after acquiring an additional 70 shares during the last quarter. Flynn Zito Capital Management LLC lifted its position in Oracle by 1.7% in the 1st quarter. Flynn Zito Capital Management LLC now owns 4,333 shares of the enterprise software provider's stock valued at $606,000 after acquiring an additional 71 shares in the last quarter. Tiller Private Wealth Inc. lifted its position in Oracle by 4.6% in the 1st quarter. Tiller Private Wealth Inc. now owns 1,599 shares of the enterprise software provider's stock valued at $224,000 after acquiring an additional 71 shares in the last quarter. Finally, Cadence Bank increased its holdings in shares of Oracle by 1.0% in the 1st quarter. Cadence Bank now owns 7,440 shares of the enterprise software provider's stock worth $1,040,000 after purchasing an additional 71 shares in the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Naomi O. Seligman sold 3,303 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $233.32, for a total transaction of $770,655.96. Following the completion of the transaction, the director directly owned 31,447 shares of the company's stock, valued at approximately $7,337,214.04. This represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Maria Smith sold 10,000 shares of Oracle 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 approximately $9,507,622.93. The trade was a 19.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 444,183 shares of company stock valued at $86,521,198 in the last ninety days. Company insiders own 42.20% of the company's stock.

Oracle Price Performance

NYSE ORCL traded up $86.89 during trading hours on Wednesday, reaching $328.40. The company's stock had a trading volume of 131,092,718 shares, compared to its average volume of 12,084,960. Oracle Corporation has a 1 year low of $118.86 and a 1 year high of $345.72. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07. The company has a market capitalization of $922.41 billion, a price-to-earnings ratio of 49.49, a PEG ratio of 3.61 and a beta of 1.46. The firm's 50-day moving average price is $240.23 and its 200-day moving average price is $187.60.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.06. Oracle had a net margin of 21.08% and a return on equity of 80.42%. The firm had revenue of $15.90 billion for the quarter, compared to analysts' expectations of $15.58 billion. During the same quarter last year, the business posted $1.63 earnings per share. The company's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities research analysts predict that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Thursday, October 9th will be paid a $0.50 dividend. The ex-dividend date is Thursday, October 9th. This represents a $2.00 annualized dividend and a yield of 0.6%. Oracle's payout ratio is presently 46.08%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ORCL. Piper Sandler upped their price target on Oracle from $270.00 to $330.00 and gave the company an "overweight" rating in a report on Wednesday. Raymond James Financial restated a "strong-buy" rating on shares of Oracle in a research report on Wednesday, June 18th. CIBC reiterated a "buy" rating on shares of Oracle in a research report on Monday, June 9th. KeyCorp increased their target price on Oracle from $200.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $240.00 price target (up from $200.00) on shares of Oracle in a research note on Thursday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $291.23.

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.