Penobscot Investment Management Company Inc. Purchases 375 Shares of Oracle Corporation (NYSE:ORCL)

Penobscot Investment Management Company Inc. increased its position in shares of Oracle Corporation (NYSE:ORCL) by 2.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,951 shares of the enterprise software provider’s stock after buying an additional 375 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Oracle were worth $2,230,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ORCL. Brighton Jones LLC boosted its position in Oracle by 189.3% during the fourth quarter. Brighton Jones LLC now owns 153,580 shares of the enterprise software provider’s stock valued at $25,593,000 after purchasing an additional 100,494 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Oracle by 8.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,418 shares of the enterprise software provider’s stock valued at $903,000 after purchasing an additional 404 shares during the last quarter. FourThought Financial Partners LLC acquired a new position in Oracle during the fourth quarter valued at approximately $709,000. FFT Wealth Management LLC boosted its position in Oracle by 5.8% during the fourth quarter. FFT Wealth Management LLC now owns 2,020 shares of the enterprise software provider’s stock valued at $337,000 after purchasing an additional 111 shares during the last quarter. Finally, Kirtland Hills Capital Management LLC boosted its position in Oracle by 1.5% during the fourth quarter. Kirtland Hills Capital Management LLC now owns 7,964 shares of the enterprise software provider’s stock valued at $1,327,000 after purchasing an additional 118 shares during the last quarter. 42.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Oracle

In other Oracle news, Director Leon E. Panetta sold 5,000 shares of Oracle stock in a transaction on Friday, April 11th. The stock was sold at an average price of $129.77, for a total value of $648,850.00. Following the completion of the transaction, the director now directly owns 58,090 shares of the company’s stock, valued at $7,538,339.30. The trade was a 7.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Naomi O. Seligman sold 2,866 shares of Oracle stock in a transaction on Monday, May 5th. The shares were sold at an average price of $149.53, for a total value of $428,552.98. Following the completion of the transaction, the director now directly owns 31,764 shares of the company’s stock, valued at $4,749,670.92. This represents a 8.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 442,366 shares of company stock valued at $83,395,223 in the last three months. Corporate insiders own 42.20% of the company’s stock.

Oracle Price Performance

Shares of NYSE ORCL opened at $210.54 on Thursday. The firm has a market cap of $591.37 billion, a P/E ratio of 48.51, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. Oracle Corporation has a 1-year low of $118.86 and a 1-year high of $216.93. The business’s 50 day moving average is $165.09 and its 200-day moving average is $161.98.

Oracle (NYSE:ORCL) last announced its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.06. The company had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.63 earnings per share. Equities research analysts predict that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Thursday, July 10th. This represents a $2.00 annualized dividend and a yield of 0.95%. Oracle’s dividend payout ratio is presently 46.08%.

Analysts Set New Price Targets

Several brokerages recently commented on ORCL. JPMorgan Chase & Co. increased their price target on Oracle from $135.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, June 12th. Morgan Stanley reissued an “overweight” rating on shares of Oracle in a research report on Wednesday, June 18th. DA Davidson increased their price target on Oracle from $140.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, June 12th. Bank of America raised their price objective on Oracle from $156.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, June 12th. Finally, Evercore ISI reaffirmed a “buy” rating on shares of Oracle in a research report on Wednesday, June 18th. Eleven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Oracle currently has an average rating of “Moderate Buy” and a consensus target price of $197.67.

About Oracle

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.