Palisade Asset Management LLC Sells 1,840 Shares of Oracle Co. (NYSE:ORCL)

Palisade Asset Management LLC reduced its position in shares of Oracle Co. (NYSE:ORCL) by 0.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 205,071 shares of the enterprise software provider’s stock after selling 1,840 shares during the period. Oracle comprises about 1.8% of Palisade Asset Management LLC’s investment portfolio, making the stock its 17th biggest position. Palisade Asset Management LLC’s holdings in Oracle were worth $11,683,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Mitchell Capital Management Co. raised its stake in shares of Oracle by 23.3% in the second quarter. Mitchell Capital Management Co. now owns 33,595 shares of the enterprise software provider’s stock worth $1,914,000 after acquiring an additional 6,352 shares during the last quarter. Farmers & Merchants Investments Inc. raised its stake in shares of Oracle by 1.7% during the second quarter. Farmers & Merchants Investments Inc. now owns 189,195 shares of the enterprise software provider’s stock worth $10,778,000 after buying an additional 3,185 shares during the last quarter. Hyman Charles D raised its stake in shares of Oracle by 0.6% during the second quarter. Hyman Charles D now owns 227,470 shares of the enterprise software provider’s stock worth $12,959,000 after buying an additional 1,265 shares during the last quarter. Zeke Capital Advisors LLC raised its stake in shares of Oracle by 0.3% during the second quarter. Zeke Capital Advisors LLC now owns 323,535 shares of the enterprise software provider’s stock worth $18,432,000 after buying an additional 814 shares during the last quarter. Finally, First Quadrant L P CA raised its stake in shares of Oracle by 5.1% during the second quarter. First Quadrant L P CA now owns 264,165 shares of the enterprise software provider’s stock worth $15,049,000 after buying an additional 12,767 shares during the last quarter. 54.26% of the stock is owned by hedge funds and other institutional investors.

Shares of Oracle stock traded down $1.42 on Monday, hitting $54.42. The company had a trading volume of 308,904 shares, compared to its average volume of 10,684,940. The company has a market capitalization of $186.27 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 1.63 and a beta of 1.15. Oracle Co. has a twelve month low of $42.40 and a twelve month high of $60.50. The company has a debt-to-equity ratio of 2.31, a current ratio of 2.49 and a quick ratio of 2.49. The company has a 50-day simple moving average of $57.41.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Wednesday, June 19th. The enterprise software provider reported $1.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.18. The company had revenue of $11.14 billion during the quarter, compared to analysts’ expectations of $10.93 billion. Oracle had a net margin of 28.06% and a return on equity of 40.95%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.99 earnings per share. As a group, equities analysts predict that Oracle Co. will post 3.5 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Tuesday, July 16th. Oracle’s payout ratio is 30.38%.

In other Oracle news, CAO W Corey West sold 50,000 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $56.25, for a total transaction of $2,812,500.00. Following the sale, the chief accounting officer now directly owns 85,348 shares of the company’s stock, valued at $4,800,825. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $54.52, for a total transaction of $204,450.00. Following the sale, the director now directly owns 27,969 shares in the company, valued at $1,524,869.88. The disclosure for this sale can be found here. Insiders have sold 1,356,250 shares of company stock valued at $76,913,375 in the last 90 days. 32.00% of the stock is currently owned by corporate insiders.

A number of equities research analysts recently weighed in on ORCL shares. Barclays boosted their price target on shares of Oracle from $55.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 20th. BMO Capital Markets reissued a “market perform” rating and set a $59.00 price target (up from $53.00) on shares of Oracle in a research note on Thursday, June 20th. Goldman Sachs Group reissued a “buy” rating and set a $58.00 price target on shares of Oracle in a research note on Thursday, June 20th. Jefferies Financial Group boosted their price target on shares of Oracle from $61.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $53.00 price target on shares of Oracle in a research note on Tuesday, June 18th. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $54.58.

About Oracle

Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.

Read More: Return on Investment (ROI)

Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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