Swedbank AB Lowers Position in Oracle Corporation $ORCL

Key Points

• Swedbank AB has reduced its stake in Oracle Corporation by 35.9%, owning approximately 1.39 million shares worth nearly $193.9 million after selling 776,087 shares in the first quarter.
• Oracle's latest quarterly earnings showed an EPS of $1.70, surpassing estimates, with revenue of $15.90 billion reflecting an 11.3% increase year-over-year.
• The company announced a $0.50 quarterly dividend, with an ex-dividend date of October 9th, 2023, translating to an annualized yield of 0.7%.

Swedbank AB cut its stake in Oracle Corporation (NYSE:ORCL - Free Report) by 35.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,386,686 shares of the enterprise software provider's stock after selling 776,087 shares during the period. Swedbank AB's holdings in Oracle were worth $193,873,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in 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 buying an additional 107,404 shares during the period. Lockheed Martin Investment Management Co. lifted its holdings in 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 buying an additional 2,110 shares during the period. CBM Financial LLC purchased a new position in shares of Oracle during the first quarter valued at approximately $356,000. Nuveen LLC purchased a new position in shares of Oracle during the first quarter valued at approximately $732,692,000. Finally, Acorns Advisers LLC lifted its holdings in shares of Oracle by 63.4% during the first quarter. Acorns Advisers LLC now owns 2,710 shares of the enterprise software provider's stock valued at $379,000 after purchasing an additional 1,051 shares during the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Price Performance

Shares of ORCL opened at $307.64 on Friday. The company has a market capitalization of $864.11 billion, a P/E ratio of 71.21, a price-to-earnings-growth ratio of 4.91 and a beta of 1.46. The company has a quick ratio of 0.75, a current ratio of 0.62 and a debt-to-equity ratio of 3.33. The firm has a 50 day moving average of $243.59 and a 200 day moving average of $189.52. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $345.72.

Oracle (NYSE:ORCL - Get Free Report) last announced its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.06. The company had revenue of $15.90 billion during the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a net margin of 21.08% and a return on equity of 72.93%. The firm's quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 earnings per share. As a group, equities research analysts anticipate that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 9th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 0.7%. Oracle's dividend payout ratio (DPR) is 46.08%.

Insider Activity at Oracle

In related news, EVP Maria Smith sold 10,000 shares of the firm'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 transaction of $2,329,900.00. Following the completion of the sale, the executive vice president owned 40,807 shares of the company's stock, valued at $9,507,622.93. This trade represents a 19.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Clayton M. Magouyrk sold 15,000 shares of Oracle stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $214.10, for a total transaction of $3,211,500.00. Following the completion of the sale, the insider directly owned 60,722 shares of the company's stock, valued at approximately $13,000,580.20. This trade represents a 19.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,183 shares of company stock valued at $10,353,198 over the last ninety days. Corporate insiders own 42.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Morgan Stanley lifted their target price on shares of Oracle from $175.00 to $246.00 and gave the company an "equal weight" rating in a report on Monday. BMO Capital Markets set a $345.00 target price on shares of Oracle in a report on Wednesday. Bank of America upgraded shares of Oracle from a "neutral" rating to a "buy" rating and lifted their target price for the company from $295.00 to $368.00 in a report on Wednesday. Loop Capital set a $135.00 target price on shares of Oracle in a report on Tuesday, June 10th. Finally, Westpark Capital lifted their target price on shares of Oracle from $195.00 to $246.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, Oracle currently has an average rating of "Moderate Buy" and an average price target of $296.84.

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.

Want to see what other hedge funds are holding ORCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oracle Corporation (NYSE:ORCL - Free Report).

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.