Bar Harbor Wealth Management Cuts Holdings in Oracle Co. (NYSE:ORCL)

Bar Harbor Wealth Management decreased its position in shares of Oracle Co. (NYSE:ORCL) by 3.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,323 shares of the enterprise software provider’s stock after selling 151 shares during the period. Bar Harbor Wealth Management’s holdings in Oracle were worth $604,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC grew its position in Oracle by 25.0% in the first quarter. Twin Peaks Wealth Advisors LLC now owns 1,857 shares of the enterprise software provider’s stock worth $249,000 after acquiring an additional 371 shares in the last quarter. Relyea Zuckerberg Hanson LLC grew its position in Oracle by 0.9% in the first quarter. Relyea Zuckerberg Hanson LLC now owns 10,453 shares of the enterprise software provider’s stock worth $1,461,000 after acquiring an additional 89 shares in the last quarter. Quintet Private Bank Europe S.A. grew its position in Oracle by 145.4% in the first quarter. Quintet Private Bank Europe S.A. now owns 25,951 shares of the enterprise software provider’s stock worth $3,628,000 after acquiring an additional 15,374 shares in the last quarter. RMR Wealth Builders lifted its stake in Oracle by 29.7% in the first quarter. RMR Wealth Builders now owns 9,277 shares of the enterprise software provider’s stock worth $1,297,000 after purchasing an additional 2,122 shares during the last quarter. Finally, Rockland Trust Co. lifted its stake in Oracle by 4.8% in the first quarter. Rockland Trust Co. now owns 10,165 shares of the enterprise software provider’s stock worth $1,421,000 after purchasing an additional 467 shares during the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Oracle Price Performance

NYSE ORCL opened at $215.54 on Friday. The firm’s fifty day simple moving average is $152.88 and its two-hundred day simple moving average is $160.62. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.65. Oracle Co. has a 12-month low of $118.86 and a 12-month high of $216.60. The firm has a market capitalization of $602.86 billion, a P/E ratio of 52.70, a P/E/G ratio of 3.46 and a beta of 1.32.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.06. Oracle had a net margin of 21.16% and a return on equity of 133.25%. The business had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period in the previous year, the company earned $1.63 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. Analysts forecast that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, July 10th. Oracle’s dividend payout ratio is currently 46.08%.

Insiders Place Their Bets

In related news, Director Naomi O. Seligman sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $145.81, for a total value of $291,620.00. Following the transaction, the director now directly owns 34,630 shares of the company’s stock, valued at $5,049,400.30. This represents a 5.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the company’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $190.42, for a total value of $76,168,000.00. Following the completion of the transaction, the insider now directly owns 1,097,576 shares in the company, valued at approximately $209,000,421.92. The trade was a 26.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 427,366 shares of company stock valued at $80,183,723. 42.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ORCL. The Goldman Sachs Group raised their price objective on shares of Oracle from $145.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday. Mizuho decreased their price objective on shares of Oracle from $210.00 to $180.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Morgan Stanley reissued a “positive” rating on shares of Oracle in a research note on Monday. Jefferies Financial Group raised their price objective on shares of Oracle from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Oracle from $135.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday. Twelve analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $194.32.

Oracle Company Profile

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.