Arcadia Investment Management Corp MI lowered its stake in Oracle Corporation (NYSE:ORCL) by 3.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 101,408 shares of the enterprise software provider’s stock after selling 3,150 shares during the period. Oracle Corporation accounts for approximately 1.4% of Arcadia Investment Management Corp MI’s portfolio, making the stock its 25th largest position. Arcadia Investment Management Corp MI’s holdings in Oracle Corporation were worth $4,524,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brookstone Capital Management boosted its position in shares of Oracle Corporation by 4.5% in the first quarter. Brookstone Capital Management now owns 13,055 shares of the enterprise software provider’s stock worth $582,000 after buying an additional 557 shares during the period. Cadence Bank NA raised its stake in shares of Oracle Corporation by 7.3% in the first quarter. Cadence Bank NA now owns 7,436 shares of the enterprise software provider’s stock worth $332,000 after buying an additional 504 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Oracle Corporation by 38.8% in the first quarter. Canada Pension Plan Investment Board now owns 850,351 shares of the enterprise software provider’s stock worth $37,934,000 after buying an additional 237,662 shares during the period. Linscomb & Williams Inc. raised its position in shares of Oracle Corporation by 1.1% in the first quarter. Linscomb & Williams Inc. now owns 24,111 shares of the enterprise software provider’s stock worth $1,076,000 after buying an additional 261 shares during the period. Finally, Greenleaf Trust raised its position in shares of Oracle Corporation by 82.9% in the first quarter. Greenleaf Trust now owns 28,476 shares of the enterprise software provider’s stock worth $1,270,000 after buying an additional 12,904 shares during the period. 58.65% of the stock is currently owned by institutional investors.
Shares of Oracle Corporation (NYSE:ORCL) traded down 0.30% on Friday, hitting $50.30. The stock had a trading volume of 8,996,435 shares. Oracle Corporation has a 12 month low of $37.62 and a 12 month high of $51.85. The firm has a 50 day moving average of $49.06 and a 200 day moving average of $44.71. The stock has a market cap of $208.08 billion, a P/E ratio of 22.76 and a beta of 1.07. Oracle Corporation also saw some unusual options trading on Wednesday. Traders acquired 36,574 call options on the stock. This is an increase of approximately 115% compared to the average volume of 17,031 call options.
Oracle Corporation (NYSE:ORCL) last posted its earnings results on Wednesday, June 21st. The enterprise software provider reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.11. The company had revenue of $10.94 billion for the quarter, compared to analyst estimates of $10.45 billion. Oracle Corporation had a return on equity of 20.90% and a net margin of 24.74%. Oracle Corporation’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 earnings per share. On average, equities analysts forecast that Oracle Corporation will post $2.96 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 2nd. Shareholders of record on Wednesday, July 19th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.51%. The ex-dividend date is Monday, July 17th. Oracle Corporation’s dividend payout ratio (DPR) is 34.55%.
ORCL has been the subject of several research analyst reports. KeyCorp reaffirmed a “buy” rating and issued a $61.00 price target on shares of Oracle Corporation in a research note on Tuesday, July 18th. MKM Partners reaffirmed a “neutral” rating and issued a $48.00 price objective (up from $45.00) on shares of Oracle Corporation in a research report on Friday, June 23rd. Cowen and Company reiterated an “outperform” rating and issued a $55.00 target price (up from $48.00) on shares of Oracle Corporation in a research note on Thursday, June 22nd. Bank of America Corporation reaffirmed a “buy” rating and set a $62.00 target price (up previously from $54.00) on shares of Oracle Corporation in a report on Thursday, June 22nd. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $52.00 price target on shares of Oracle Corporation in a report on Friday, April 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and thirty-one have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $50.70.
In other news, CEO Safra Catz sold 394,081 shares of the company’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $45.01, for a total value of $17,737,585.81. Following the sale, the chief executive officer now directly owns 855,941 shares in the company, valued at $38,525,904.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas Kurian sold 750,000 shares of the company’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $50.46, for a total value of $37,845,000.00. Following the completion of the sale, the insider now owns 783,533 shares in the company, valued at $39,537,075.18. The disclosure for this sale can be found here. Insiders sold 2,211,581 shares of company stock worth $109,284,973 in the last three months. 29.00% of the stock is owned by corporate insiders.
Oracle Corporation Company Profile
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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