Iowa State Bank Trims Stake in Oracle Corporation (ORCL)
Iowa State Bank trimmed its position in shares of Oracle Corporation (NYSE:ORCL) by 9.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,265 shares of the enterprise software provider’s stock after selling 3,479 shares during the quarter. Iowa State Bank’s holdings in Oracle Corporation were worth $1,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its holdings in Oracle Corporation by 1.0% in the first quarter. State Street Corp now owns 123,195,917 shares of the enterprise software provider’s stock worth $5,495,769,000 after purchasing an additional 1,187,802 shares in the last quarter. Bank of New York Mellon Corp increased its position in Oracle Corporation by 2.9% during the first quarter. Bank of New York Mellon Corp now owns 53,750,832 shares of the enterprise software provider’s stock worth $2,397,824,000 after buying an additional 1,521,879 shares during the last quarter. Harris Associates L P increased its position in Oracle Corporation by 0.4% during the first quarter. Harris Associates L P now owns 41,561,715 shares of the enterprise software provider’s stock worth $1,854,068,000 after buying an additional 156,122 shares during the last quarter. First Eagle Investment Management LLC increased its position in Oracle Corporation by 3.7% during the first quarter. First Eagle Investment Management LLC now owns 41,235,175 shares of the enterprise software provider’s stock worth $1,839,501,000 after buying an additional 1,467,144 shares during the last quarter. Finally, Macquarie Group Ltd. raised its holdings in Oracle Corporation by 6,353.4% during the first quarter. Macquarie Group Ltd. now owns 18,640,774 shares of the enterprise software provider’s stock valued at $831,551,000 after buying an additional 18,351,920 shares in the last quarter. Institutional investors and hedge funds own 58.66% of the company’s stock.
In other news, insider Thomas Kurian sold 750,000 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $50.46, for a total transaction of $37,845,000.00. Following the completion of the transaction, the insider now directly owns 783,533 shares in the company, valued at $39,537,075.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George H. Conrades sold 11,250 shares of the firm’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $48.10, for a total value of $541,125.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $481,000. The disclosure for this sale can be found here. Insiders sold a total of 1,162,026 shares of company stock worth $58,034,049 in the last quarter. Corporate insiders own 29.00% of the company’s stock.
A number of research analysts recently weighed in on the company. UBS AG reissued a “buy” rating and issued a $52.00 price objective (up from $48.00) on shares of Oracle Corporation in a research note on Thursday, June 22nd. They noted that the move was a valuation call. Wedbush raised Oracle Corporation from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $56.00 to $44.00 in a research report on Thursday, June 22nd. BMO Capital Markets upped their target price on Oracle Corporation from $48.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, June 22nd. Moffett Nathanson assumed coverage on Oracle Corporation in a report on Wednesday, September 6th. They set a “buy” rating and a $65.00 price target on the stock. Finally, Vetr upgraded Oracle Corporation from a “strong sell” rating to a “sell” rating and set a $46.58 price target on the stock in a report on Monday, September 18th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirty have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $53.33.
Shares of Oracle Corporation (NYSE ORCL) traded up 0.643% during trading on Monday, reaching $48.661. The company’s stock had a trading volume of 12,540,637 shares. The company’s 50 day moving average price is $49.85 and its 200 day moving average price is $47.12. Oracle Corporation has a 12 month low of $37.62 and a 12 month high of $53.14. The firm has a market cap of $203.06 billion, a PE ratio of 21.166 and a beta of 1.05.
Oracle Corporation (NYSE:ORCL) last announced its earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The business had revenue of $9.21 billion during the quarter, compared to analyst estimates of $9.03 billion. Oracle Corporation had a return on equity of 20.55% and a net margin of 25.34%. Oracle Corporation’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.55 EPS. On average, equities analysts predict that Oracle Corporation will post $2.94 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th will be given a $0.19 dividend. The ex-dividend date is Tuesday, October 10th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.57%. Oracle Corporation’s dividend payout ratio (DPR) is presently 33.19%.
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Oracle Corporation 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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