Tocqueville Asset Management L.P. Decreases Stake in Oracle Corporation $ORCL

Key Points

• Tocqueville Asset Management L.P. decreased its holdings in Oracle Corporation by 10.1%, owning 138,801 shares valued at approximately $19.41 million after selling 15,631 shares in the first quarter.
• Oracle recently reported a quarterly revenue of $15.90 billion, surpassing analysts' expectations, along with earnings per share of $1.70, reflecting a year-over-year revenue increase of 11.3%.
• The company's quarterly dividend of $0.50 per share translates to an annualized dividend yield of 0.8%, with a dividend payout ratio of 46.08% as of the last reporting period.

Tocqueville Asset Management L.P. cut its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 10.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,801 shares of the enterprise software provider's stock after selling 15,631 shares during the quarter. Tocqueville Asset Management L.P.'s holdings in Oracle were worth $19,406,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ORCL. Brighton Jones LLC grew its position in Oracle by 189.3% during the 4th quarter. Brighton Jones LLC now owns 153,580 shares of the enterprise software provider's stock valued at $25,593,000 after purchasing an additional 100,494 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Oracle by 8.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,418 shares of the enterprise software provider's stock valued at $903,000 after purchasing an additional 404 shares during the last quarter. Capital International Sarl grew its position in Oracle by 34.4% during the 4th quarter. Capital International Sarl now owns 7,687 shares of the enterprise software provider's stock valued at $1,281,000 after purchasing an additional 1,968 shares during the last quarter. Broadleaf Partners LLC grew its position in Oracle by 1,832.1% during the 4th quarter. Broadleaf Partners LLC now owns 38,641 shares of the enterprise software provider's stock valued at $6,439,000 after purchasing an additional 36,641 shares during the last quarter. Finally, Belmont Capital LLC purchased a new stake in Oracle during the 4th quarter valued at about $446,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Clayton M. Magouyrk sold 15,000 shares of the firm's 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 sale, the insider owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the firm'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 transaction of $76,168,000.00. Following the sale, the insider directly owned 1,097,576 shares in the company, valued at $209,000,421.92. The trade was a 26.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 444,183 shares of company stock worth $86,521,198 in the last quarter. 42.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ORCL has been the topic of several recent analyst reports. JMP Securities increased their price objective on shares of Oracle from $240.00 to $315.00 and gave the company a "market outperform" rating in a research report on Friday, July 18th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $240.00 price objective (up previously from $200.00) on shares of Oracle in a research note on Thursday, June 12th. Royal Bank Of Canada increased their price objective on shares of Oracle from $145.00 to $195.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 12th. Raymond James Financial reiterated a "strong-buy" rating on shares of Oracle in a research note on Wednesday, June 18th. Finally, Barclays reiterated an "overweight" rating and issued a $221.00 price objective (up previously from $202.00) on shares of Oracle in a research note on Friday, June 13th. Nine investment 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $227.04.

Oracle Stock Up 1.4%

Shares of ORCL stock traded up $3.52 during trading hours on Friday, reaching $248.48. 11,535,891 shares of the company's stock were exchanged, compared to its average volume of 9,914,906. Oracle Corporation has a 1 year low of $118.86 and a 1 year high of $260.87. The stock has a market cap of $697.94 billion, a PE ratio of 57.25, a PEG ratio of 3.71 and a beta of 1.43. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. The stock's fifty day moving average price is $230.54 and its two-hundred day moving average price is $180.59.

Oracle (NYSE:ORCL - Get Free Report) last issued its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. Oracle had a net margin of 21.68% and a return on equity of 87.34%. The company had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter in the prior year, the company earned $1.63 EPS. Oracle's quarterly revenue was up 11.3% on a year-over-year basis. Research analysts predict that Oracle Corporation will post 5 EPS for the current year.

Oracle Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 0.8%. The ex-dividend date was Thursday, July 10th. Oracle's dividend payout ratio is 46.08%.

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.