Yacktman Asset Management LP Sells 61,486 Shares of Oracle Corporation (NYSE:ORCL)

Yacktman Asset Management LP decreased its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 35.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 111,166 shares of the enterprise software provider's stock after selling 61,486 shares during the quarter. Yacktman Asset Management LP's holdings in Oracle were worth $15,542,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Greenwood Gearhart Inc. raised its stake in shares of 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 in the last quarter. WorthPointe LLC boosted its stake in shares of Oracle by 4.0% during the 4th 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. Stage Harbor Financial LLC boosted its stake in shares of Oracle by 5.0% during the 4th quarter. Stage Harbor Financial LLC now owns 1,433 shares of the enterprise software provider's stock worth $239,000 after acquiring an additional 68 shares in the last quarter. J. L. Bainbridge & Co. Inc. lifted its stake in Oracle by 5.5% in the 4th quarter. J. L. Bainbridge & Co. Inc. now owns 1,354 shares of the enterprise software provider's stock valued at $226,000 after buying an additional 70 shares in the last quarter. Finally, Prestige Wealth Management Group LLC raised its holdings in Oracle by 0.6% in the 4th quarter. Prestige Wealth Management Group LLC now owns 11,288 shares of the enterprise software provider's stock valued at $1,881,000 after acquiring an additional 70 shares during the last quarter. Institutional investors and hedge funds own 42.44% of the company's stock.

Insider Activity

In other news, Vice Chairman Jeffrey Henley sold 400,000 shares of the business'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 value of $76,168,000.00. Following the transaction, the insider owned 1,097,576 shares of the company's stock, 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Leon E. Panetta sold 17,500 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $151.24, for a total value of $2,646,700.00. Following the completion of the sale, the director directly owned 58,090 shares in the company, valued at $8,785,531.60. This trade represents a 23.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 450,366 shares of company stock valued at $85,433,503 over the last 90 days. Insiders own 42.20% of the company's stock.

Oracle Stock Performance

NYSE:ORCL traded up $1.97 during midday trading on Wednesday, hitting $236.47. The company's stock had a trading volume of 10,824,366 shares, compared to its average volume of 10,235,001. Oracle Corporation has a fifty-two week low of $118.86 and a fifty-two week high of $241.44. The firm's 50 day moving average is $181.86 and its 200-day moving average is $165.14. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $664.20 billion, a P/E ratio of 54.49, a P/E/G ratio of 3.48 and a beta of 1.39.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 earnings per share. Equities analysts anticipate that Oracle Corporation will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 10th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.85%. Oracle's payout ratio is currently 46.08%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ORCL. Bank of America increased their price target on shares of Oracle from $156.00 to $220.00 and gave the stock a "neutral" rating in a research report on Thursday, June 12th. Roth Capital reaffirmed a "hold" rating on shares of Oracle in a research note on Wednesday, June 18th. Cowen reaffirmed a "buy" rating on shares of Oracle in a research note on Thursday, June 12th. Loop Capital set a $135.00 target price on shares of Oracle in a report on Tuesday, June 10th. Finally, Piper Sandler restated a "neutral" rating and set a $130.00 price objective on shares of Oracle in a report on Wednesday, June 11th. Ten equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Oracle has a consensus rating of "Moderate Buy" and an average target price of $204.15.

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.