Wesbanco Bank Inc. Has $18.34 Million Stock Holdings in Oracle Corporation $ORCL

Key Points

• Wesbanco Bank Inc. increased its stake in Oracle Corporation by 5.5%, owning a total of 83,866 shares valued at approximately $18.34 million as of the latest SEC filing.
• Insider sales at Oracle involved transactions exceeding $10 million in the last ninety days, with notable sales by Michael D. Sicilia and Clayton M. Magouyrk, leading to significant decreases in their share holdings.
• Oracle announced a quarterly dividend of $0.50 per share, payable on October 23rd, reflecting an annualized rate of $2.00 and a yield of 0.7%.

Wesbanco Bank Inc. lifted its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,866 shares of the enterprise software provider's stock after buying an additional 4,385 shares during the period. Wesbanco Bank Inc.'s holdings in Oracle were worth $18,336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Greenfield Savings Bank boosted its position in Oracle by 0.6% during the second quarter. Greenfield Savings Bank now owns 9,117 shares of the enterprise software provider's stock valued at $1,993,000 after purchasing an additional 53 shares during the last quarter. Clarkston Capital Partners LLC boosted its position in Oracle by 1.1% during the first quarter. Clarkston Capital Partners LLC now owns 6,290 shares of the enterprise software provider's stock valued at $879,000 after purchasing an additional 68 shares during the last quarter. Tacita Capital Inc boosted its position in Oracle by 6.0% during the first quarter. Tacita Capital Inc now owns 1,245 shares of the enterprise software provider's stock valued at $174,000 after purchasing an additional 70 shares during the last quarter. Flynn Zito Capital Management LLC boosted its position in Oracle by 1.7% during the first quarter. Flynn Zito Capital Management LLC now owns 4,333 shares of the enterprise software provider's stock valued at $606,000 after purchasing an additional 71 shares during the last quarter. Finally, Tiller Private Wealth Inc. boosted its position in Oracle by 4.6% during the first quarter. Tiller Private Wealth Inc. now owns 1,599 shares of the enterprise software provider's stock valued at $224,000 after purchasing an additional 71 shares during the last quarter. Institutional investors and hedge funds own 42.44% of the company's stock.

Insider Buying and Selling at Oracle

In related news, insider Michael D. Sicilia sold 15,880 shares of the business's stock in a transaction dated 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 transaction, the insider owned 99,212 shares of the company's stock, valued at approximately $25,247,469.76. The trade was a 13.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clayton M. Magouyrk sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total value 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 $13,000,580.20. This represents a 19.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,183 shares of company stock worth $10,353,198 in the last ninety days. 42.20% of the stock is owned by insiders.

Oracle Price Performance

NYSE ORCL opened at $292.07 on Friday. Oracle Corporation has a fifty-two week low of $118.86 and a fifty-two week high of $345.72. The stock's 50-day moving average is $244.69 and its two-hundred day moving average is $190.50. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.62 and a quick ratio of 0.75. The firm has a market cap of $820.38 billion, a P/E ratio of 67.61, a price-to-earnings-growth ratio of 4.10 and a beta of 1.46.

Oracle (NYSE:ORCL - Get Free Report) last posted its 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. Oracle had a return on equity of 72.93% and a net margin of 21.08%.The company had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period last year, the company earned $1.63 earnings per share. The business's revenue was up 11.3% compared to the same quarter last year. On average, analysts anticipate that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The firm also recently disclosed 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. This represents a $2.00 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 9th. Oracle's payout ratio is currently 46.30%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Morgan Stanley lifted their price objective on Oracle from $175.00 to $246.00 and gave the company an "equal weight" rating in a research report on Monday, September 8th. UBS Group set a $300.00 price objective on Oracle in a research report on Wednesday. Barclays lifted their price objective on Oracle from $221.00 to $281.00 and gave the company an "overweight" rating in a research report on Monday, September 8th. Oppenheimer reissued an "outperform" rating on shares of Oracle in a research report on Wednesday, June 18th. Finally, Jefferies Financial Group raised their target price on Oracle from $270.00 to $360.00 and gave the company a "buy" rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Oracle currently has a consensus rating of "Moderate Buy" and an average target price of $296.84.

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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