Stewart & Patten Co. LLC Has $1.80 Million Position in Oracle Corporation (ORCL)
Stewart & Patten Co. LLC lessened its position in shares of Oracle Corporation (NYSE:ORCL) by 0.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,838 shares of the enterprise software provider’s stock after selling 200 shares during the period. Stewart & Patten Co. LLC’s holdings in Oracle Corporation were worth $1,797,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in Oracle Corporation by 1,150.0% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,500 shares of the enterprise software provider’s stock worth $112,000 after buying an additional 2,300 shares during the last quarter. TrimTabs Asset Management LLC raised its stake in Oracle Corporation by 88.8% during the first quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock worth $120,000 after buying an additional 1,264 shares during the last quarter. Baystate Wealth Management LLC raised its stake in Oracle Corporation by 9.2% during the second quarter. Baystate Wealth Management LLC now owns 2,439 shares of the enterprise software provider’s stock worth $123,000 after buying an additional 206 shares during the last quarter. State of Alaska Department of Revenue bought a new position in Oracle Corporation during the second quarter worth $129,000. Finally, Heritage Trust Co bought a new position in Oracle Corporation during the first quarter worth $130,000. 57.83% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Dorian Daley sold 25,776 shares of Oracle Corporation stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $48.05, for a total transaction of $1,238,536.80. Following the sale, the executive vice president now owns 30,977 shares in the company, valued at $1,488,444.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thomas Kurian sold 750,000 shares of Oracle Corporation stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $50.46, for a total transaction of $37,845,000.00. Following the sale, the insider now owns 783,533 shares in the company, valued at approximately $39,537,075.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,055,776 shares of company stock worth $52,673,112. Company insiders own 29.00% of the company’s stock.
A number of brokerages recently weighed in on ORCL. UBS AG reissued a “buy” rating and set a $52.00 target price (up previously 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. BMO Capital Markets lifted their price target on shares of Oracle Corporation from $48.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, June 22nd. Wedbush raised shares of Oracle Corporation from a “neutral” rating to an “outperform” rating and decreased their price target for the company from $56.00 to $44.00 in a research note on Thursday, June 22nd. Moffett Nathanson began coverage on shares of Oracle Corporation in a research note on Wednesday, September 6th. They issued a “buy” rating and a $65.00 price target for the company. Finally, Vetr raised shares of Oracle Corporation from a “strong sell” rating to a “sell” rating and set a $46.58 price target for the company in a research note on Monday, September 18th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty-one have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $53.37.
Oracle Corporation (NYSE:ORCL) opened at 48.40 on Monday. Oracle Corporation has a 1-year low of $37.62 and a 1-year high of $53.14. The stock has a market cap of $201.98 billion, a PE ratio of 21.05 and a beta of 1.05. The firm has a 50-day moving average of $49.52 and a 200-day moving average of $47.52.
Oracle Corporation (NYSE:ORCL) last released its quarterly earnings data on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The firm had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $9.03 billion. Oracle Corporation had a net margin of 25.34% and a return on equity of 20.55%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 earnings per share. Analysts expect that Oracle Corporation will post $2.94 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 11th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, October 10th. Oracle Corporation’s payout ratio is currently 33.19%.
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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