Webster Bank N. A. Sells 5,283 Shares of Oracle Corporation $ORCL

Key Points

• Webster Bank N. A. reduced its stake in Oracle Corporation by 9.7%, selling 5,283 shares, bringing its total holdings to 48,954 shares, valued at approximately $10.7 million.
• Several analysts have issued optimistic reports on Oracle, with price targets ranging from $375.00 to $400.00, reflecting a strong buy sentiment.
• Oracle recently announced a quarterly dividend of $0.50 per share, with an ex-dividend date of October 9th, contributing to an annualized dividend yield of 0.7%.

Webster Bank N. A. lessened its holdings in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 9.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 48,954 shares of the enterprise software provider's stock after selling 5,283 shares during the period. Oracle accounts for about 1.1% of Webster Bank N. A.'s portfolio, making the stock its 22nd largest position. Webster Bank N. A.'s holdings in Oracle were worth $10,703,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ORCL. Sunbeam Capital Management LLC acquired a new position in Oracle in the fourth quarter valued at about $30,000. Redmont Wealth Advisors LLC bought a new position in shares of Oracle during the first quarter worth about $27,000. Inlight Wealth Management LLC bought a new position in shares of Oracle during the first quarter worth about $28,000. Iron Horse Wealth Management LLC grew its stake in Oracle by 284.9% in the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider's stock valued at $29,000 after purchasing an additional 151 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new position in Oracle in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 42.44% of the company's stock.

Insider Transactions at Oracle

In related news, insider Michael D. Sicilia sold 15,880 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $254.48, for a total transaction of $4,041,142.40. Following the completion of the sale, the insider directly owned 99,212 shares of the company's stock, valued at approximately $25,247,469.76. This trade represents a 13.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Maria Smith sold 10,000 shares of the business's stock in a transaction 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 transaction, the executive vice president directly owned 40,807 shares in the company, valued at approximately $9,507,622.93. This represents a 19.68% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,183 shares of company stock valued at $10,353,198. Corporate insiders own 42.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ORCL shares. Cowen restated a "buy" rating and issued a $375.00 price target on shares of Oracle in a research note on Wednesday. Wolfe Research lifted their price objective on Oracle from $300.00 to $400.00 and gave the company an "outperform" rating in a report on Wednesday, September 10th. TD Cowen boosted their price target on Oracle from $325.00 to $375.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Guggenheim boosted their price objective on Oracle from $250.00 to $375.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, CIBC restated a "buy" rating on shares of Oracle in a research report on Monday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Oracle presently has an average rating of "Moderate Buy" and an average target price of $296.84.

Oracle Stock Down 5.1%

ORCL stock opened at $292.07 on Monday. The stock's 50 day simple moving average is $244.69 and its 200 day simple moving average is $190.68. Oracle Corporation has a fifty-two week low of $118.86 and a fifty-two week high of $345.72. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market cap of $829.98 billion, a P/E ratio of 67.61, a price-to-earnings-growth ratio of 3.16 and a beta of 1.46.

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Thursday, October 9th will be paid a $0.50 dividend. 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 is 46.30%.

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.

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