Grimes & Company Inc. Sells 494 Shares of Oracle Corporation (NYSE:ORCL)
Grimes & Company Inc. cut its stake in Oracle Corporation (NYSE:ORCL) by 0.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 153,105 shares of the enterprise software provider’s stock after selling 494 shares during the period. Grimes & Company Inc.’s holdings in Oracle Corporation were worth $7,677,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. NWQ Investment Management Company LLC boosted its stake in Oracle Corporation by 3.7% in the fourth quarter. NWQ Investment Management Company LLC now owns 4,229,400 shares of the enterprise software provider’s stock worth $162,620,000 after buying an additional 152,237 shares during the period. Alyeska Investment Group L.P. purchased a new position in Oracle Corporation during the fourth quarter worth approximately $80,687,000. Loomis Sayles & Co. L P raised its position in Oracle Corporation by 5.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 26,806,532 shares of the enterprise software provider’s stock worth $1,030,711,000 after buying an additional 1,454,996 shares in the last quarter. Sather Financial Group Inc raised its position in Oracle Corporation by 0.5% in the fourth quarter. Sather Financial Group Inc now owns 176,277 shares of the enterprise software provider’s stock worth $6,778,000 after buying an additional 950 shares in the last quarter. Finally, SRS Capital Advisors Inc. purchased a new position in Oracle Corporation during the fourth quarter worth approximately $181,000. Institutional investors own 58.79% of the company’s stock.
Shares of Oracle Corporation (NYSE:ORCL) traded up 0.14% on Friday, hitting $48.62. The stock had a trading volume of 10,248,442 shares. Oracle Corporation has a 12 month low of $37.62 and a 12 month high of $51.85. The stock has a market cap of $201.13 billion, a PE ratio of 22.00 and a beta of 1.06. The stock has a 50 day moving average of $49.83 and a 200-day moving average of $45.71.
Oracle Corporation (NYSE:ORCL) last announced its quarterly earnings data on Wednesday, June 21st. The enterprise software provider reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.11. Oracle Corporation had a return on equity of 20.90% and a net margin of 24.74%. The business had revenue of $10.94 billion for the quarter, compared to the consensus estimate of $10.45 billion. During the same period in the previous year, the business earned $0.81 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. Equities research analysts anticipate that Oracle Corporation will post $2.96 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Wednesday, July 19th were given a $0.19 dividend. The ex-dividend date of this dividend was Monday, July 17th. This represents a $0.76 annualized dividend and a dividend yield of 1.56%. Oracle Corporation’s payout ratio is 34.55%.
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ORCL has been the topic of a number of recent research reports. Bank of America Corporation decreased their price target on shares of Oracle Corporation from $62.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, June 30th. Zacks Investment Research upgraded shares of Oracle Corporation from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Tuesday, May 16th. Argus upgraded shares of Oracle Corporation from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Friday, June 23rd. Societe Generale downgraded shares of Oracle Corporation from a “buy” rating to a “hold” rating and decreased their price target for the stock from $51.00 to $50.00 in a research note on Thursday, May 11th. Finally, KeyCorp upgraded shares of Oracle Corporation from a “sector weight” rating to an “overweight” rating and set a $61.00 target price on the stock in a research note on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirty have assigned a buy rating to the company’s stock. Oracle Corporation has an average rating of “Buy” and an average target price of $50.81.
In other news, CEO Mark V. Hurd sold 350,000 shares of Oracle Corporation stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $49.76, for a total value of $17,416,000.00. Following the sale, the chief executive officer now directly owns 553,891 shares of the company’s stock, valued at $27,561,616.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle Corporation stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $44.57, for a total value of $167,137.50. Following the completion of the sale, the director now directly owns 18,125 shares in the company, valued at $807,831.25. The disclosure for this sale can be found here. Insiders sold 1,817,500 shares of company stock worth $91,560,925 over the last 90 days. Company insiders own 29.00% of the company’s stock.
About Oracle Corporation
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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