Sawgrass Asset Management LLC Has $8.47 Million Position in Oracle Corporation (NYSE:ORCL)

Sawgrass Asset Management LLC reduced its stake in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 50.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,574 shares of the enterprise software provider's stock after selling 62,782 shares during the quarter. Sawgrass Asset Management LLC's holdings in Oracle were worth $8,469,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Cookson Peirce & Co. Inc. boosted its holdings in shares of Oracle by 4.4% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,423 shares of the enterprise software provider's stock worth $237,000 after purchasing an additional 60 shares during the period. New England Capital Financial Advisors LLC boosted its holdings in shares of Oracle by 6.4% during the fourth quarter. New England Capital Financial Advisors LLC now owns 1,061 shares of the enterprise software provider's stock worth $177,000 after purchasing an additional 64 shares during the period. Cape ANN Savings Bank lifted its stake in Oracle by 1.1% in the fourth quarter. Cape ANN Savings Bank now owns 5,820 shares of the enterprise software provider's stock valued at $970,000 after acquiring an additional 65 shares during the last quarter. Greenwood Gearhart Inc. lifted its stake in Oracle by 1.2% in the fourth quarter. Greenwood Gearhart Inc. now owns 5,731 shares of the enterprise software provider's stock valued at $955,000 after acquiring an additional 66 shares during the last quarter. Finally, WorthPointe LLC grew its position in Oracle by 4.0% in the fourth quarter. WorthPointe LLC now owns 1,734 shares of the enterprise software provider's stock worth $289,000 after acquiring an additional 67 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Oracle

In other news, Vice Chairman Jeffrey Henley sold 400,000 shares of Oracle stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $190.42, for a total value of $76,168,000.00. Following the completion of the transaction, the insider now owns 1,097,576 shares in the company, valued at approximately $209,000,421.92. The trade was a 26.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Clayton M. Magouyrk sold 15,000 shares of Oracle 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 transaction, the insider now owns 60,722 shares of the company's stock, valued at $13,000,580.20. This trade represents a 19.81% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 442,366 shares of company stock valued at $83,395,223. 42.20% of the stock is currently owned by corporate insiders.

Oracle Stock Down 2.8%

ORCL stock opened at $205.06 on Monday. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $216.60. The company has a market cap of $575.96 billion, a PE ratio of 47.25, a price-to-earnings-growth ratio of 3.08 and a beta of 1.32. The business's 50-day simple moving average is $160.39 and its 200 day simple moving average is $161.16. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07.

Oracle (NYSE:ORCL - Get Free Report) last released its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share 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 for the quarter, compared to the consensus estimate of $15.58 billion. During the same period last year, the business earned $1.63 earnings per share. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, research analysts anticipate that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Thursday, July 10th. Oracle's payout ratio is 46.08%.

Analysts Set New Price Targets

ORCL has been the topic of a number of recent research reports. Barclays restated an "overweight" rating and set a $221.00 price target (up previously from $202.00) on shares of Oracle in a report on Friday, June 13th. JPMorgan Chase & Co. raised their target price on Oracle from $135.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, June 12th. Bank of America boosted their price target on Oracle from $156.00 to $220.00 and gave the stock a "neutral" rating in a research report on Thursday, June 12th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $240.00 price target (up previously from $200.00) on shares of Oracle in a research note on Thursday, June 12th. Finally, Cantor Fitzgerald cut their price objective on Oracle from $214.00 to $175.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 11th. Eleven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Oracle currently has a consensus rating of "Moderate Buy" and a consensus target price of $196.74.

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.

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