First Horizon Advisors Inc. Cuts Position in Oracle Corporation (NYSE:ORCL)

First Horizon Advisors Inc. lowered its position in Oracle Corporation (NYSE:ORCL) by 6.4% in the first quarter, Holdings Channel reports. The fund owned 30,236 shares of the enterprise software provider’s stock after selling 2,056 shares during the period. First Horizon Advisors Inc.’s holdings in Oracle were worth $4,227,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rockland Trust Co. grew its stake in shares of Oracle by 4.8% during 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 in the last quarter. Cornerstone Advisory LLC lifted its holdings in Oracle by 34.1% during the 4th quarter. Cornerstone Advisory LLC now owns 12,968 shares of the enterprise software provider’s stock worth $2,258,000 after buying an additional 3,299 shares during the last quarter. Peak Retirement Planning Inc. acquired a new position in shares of Oracle during the 4th quarter worth about $211,000. Secure Asset Management LLC increased its holdings in shares of Oracle by 21.8% in the 1st quarter. Secure Asset Management LLC now owns 13,235 shares of the enterprise software provider’s stock valued at $1,850,000 after acquiring an additional 2,365 shares during the last quarter. Finally, City National Bank of Florida MSD acquired a new stake in shares of Oracle during the 4th quarter worth about $274,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Insiders Place Their Bets

In other news, insider Clayton M. Magouyrk sold 15,000 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $214.10, for a total value of $3,211,500.00. Following the completion of the transaction, the insider owned 60,722 shares in the company, valued at $13,000,580.20. This trade represents a 19.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Naomi O. Seligman sold 2,866 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $149.53, for a total transaction of $428,552.98. Following the completion of the sale, the director owned 31,764 shares of the company’s stock, valued at $4,749,670.92. This trade represents a 8.28% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 440,366 shares of company stock worth $83,103,603. 42.20% of the stock is owned by insiders.

Oracle Stock Up 3.2%

ORCL stock opened at $237.39 on Friday. Oracle Corporation has a one year low of $118.86 and a one year high of $237.99. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.75 and a current ratio of 0.75. The company has a fifty day moving average of $176.16 and a 200-day moving average of $163.79. The stock has a market capitalization of $666.79 billion, a PE ratio of 54.70, a price-to-earnings-growth ratio of 3.44 and a beta of 1.39.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating 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 revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.63 EPS. As a group, analysts expect that Oracle Corporation will post 5 EPS for the current year.

Oracle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Investors of record on Thursday, July 10th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Thursday, July 10th. Oracle’s dividend payout ratio is presently 46.08%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ORCL. JPMorgan Chase & Co. upped their price target on Oracle from $135.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, June 12th. UBS Group set a $250.00 target price on shares of Oracle and gave the company a “buy” rating in a research report on Wednesday, June 25th. Stephens started coverage on shares of Oracle in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $167.00 price target on the stock. Stifel Nicolaus upgraded shares of Oracle from a “hold” rating to a “buy” rating and upped their price objective for the company from $180.00 to $250.00 in a research note on Monday. Finally, Barclays reiterated an “overweight” rating and set a $221.00 target price (up previously from $202.00) on shares of Oracle in a research report on Friday, June 13th. Ten analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.15.

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.