Oracle Corp. (ORCL) Shares Sold by Seaward Management Limited Partnership
Seaward Management Limited Partnership cut its stake in Oracle Corp. (NYSE:ORCL) by 1.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,011,266 shares of the enterprise software provider’s stock after selling 11,104 shares during the period. Oracle Corp. accounts for 2.3% of Seaward Management Limited Partnership’s portfolio, making the stock its 7th largest position. Seaward Management Limited Partnership’s holdings in Oracle Corp. were worth $41,391,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the company. Cribstone Capital Management LLC purchased a new stake in shares of Oracle Corp. during the second quarter valued at about $102,000. FCM Investments TX raised its stake in shares of Oracle Corp. by 20.0% in the second quarter. FCM Investments TX now owns 3,000 shares of the enterprise software provider’s stock valued at $123,000 after buying an additional 500 shares in the last quarter. Ironwood Financial llc purchased a new stake in shares of Oracle Corp. during the first quarter valued at about $147,000. Gardner Russo & Gardner LLC purchased a new stake in shares of Oracle Corp. during the first quarter valued at about $205,000. Finally, Natixis purchased a new stake in shares of Oracle Corp. during the first quarter valued at about $230,000. 58.24% of the stock is owned by institutional investors and hedge funds.
Shares of Oracle Corp. (NYSE:ORCL) traded down 0.03% during midday trading on Friday, hitting $38.71. 11,442,032 shares of the stock were exchanged. The firm’s 50 day moving average is $40.15 and its 200-day moving average is $40.32. Oracle Corp. has a 1-year low of $33.13 and a 1-year high of $42.00. The stock has a market capitalization of $158.93 billion, a price-to-earnings ratio of 18.39 and a beta of 1.23.
Oracle Corp. (NYSE:ORCL) last announced its earnings results on Thursday, September 15th. The enterprise software provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by $0.03. Oracle Corp. had a return on equity of 22.10% and a net margin of 24.16%. The firm had revenue of $8.60 billion for the quarter. During the same period in the previous year, the company earned $0.53 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, analysts predict that Oracle Corp. will post $2.63 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 12th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Friday, October 7th. Oracle Corp.’s dividend payout ratio (DPR) is currently 28.57%.
Several analysts recently issued reports on the company. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $48.00 price objective on shares of Oracle Corp. in a report on Friday, June 10th. Zacks Investment Research lowered Oracle Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 23rd. Vetr upgraded Oracle Corp. from a “buy” rating to a “strong-buy” rating and set a $46.33 target price on the stock in a report on Tuesday, September 6th. DA Davidson restated a “buy” rating and set a $52.00 target price on shares of Oracle Corp. in a report on Saturday, September 17th. Finally, Cowen and Company assumed coverage on Oracle Corp. in a report on Thursday, June 23rd. They set an “outperform” rating and a $46.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $44.76.
In other Oracle Corp. news, Director Hector Garcia-Molina sold 3,750 shares of Oracle Corp. stock in a transaction on Monday, August 15th. The shares were sold at an average price of $41.12, for a total value of $154,200.00. Following the completion of the sale, the director now directly owns 8,281 shares of the company’s stock, valued at $340,514.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John F. Fowler sold 500,000 shares of Oracle Corp. stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $41.17, for a total transaction of $20,585,000.00. Following the completion of the sale, the executive vice president now directly owns 119,645 shares of the company’s stock, valued at $4,925,784.65. The disclosure for this sale can be found here. 29.00% of the stock is currently owned by company insiders.
Oracle Corp. 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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