Fulton Bank N.A. reduced its holdings in Oracle Co. (NYSE:ORCL) by 70.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,122 shares of the enterprise software provider’s stock after selling 41,029 shares during the period. Fulton Bank N.A.’s holdings in Oracle were worth $1,201,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. TIAA FSB lifted its stake in shares of Oracle by 1.0% in the fourth quarter. TIAA FSB now owns 278,233 shares of the enterprise software provider’s stock valued at $17,999,000 after buying an additional 2,726 shares during the period. Boston Trust Walden Corp increased its position in shares of Oracle by 0.4% during the fourth quarter. Boston Trust Walden Corp now owns 1,322,102 shares of the enterprise software provider’s stock valued at $85,527,000 after purchasing an additional 5,292 shares during the period. Harfst & Associates Inc. raised its stake in shares of Oracle by 52.4% in the fourth quarter. Harfst & Associates Inc. now owns 8,596 shares of the enterprise software provider’s stock valued at $556,000 after purchasing an additional 2,954 shares in the last quarter. Westbourne Investment Advisors Inc. acquired a new position in shares of Oracle in the fourth quarter valued at $692,000. Finally, Fort Pitt Capital Group LLC lifted its position in Oracle by 8.7% in the fourth quarter. Fort Pitt Capital Group LLC now owns 85,964 shares of the enterprise software provider’s stock worth $5,561,000 after purchasing an additional 6,846 shares during the period. Institutional investors own 47.54% of the company’s stock.
In other news, CEO Safra Catz sold 1,150,000 shares of Oracle stock in a transaction on Monday, March 22nd. The shares were sold at an average price of $66.31, for a total transaction of $76,256,500.00. Following the transaction, the chief executive officer now directly owns 2,218,592 shares of the company’s stock, valued at $147,114,835.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Rona Alison Fairhead purchased 2,530 shares of the firm’s stock in a transaction dated Tuesday, March 16th. The stock was purchased at an average cost of $68.00 per share, with a total value of $172,040.00. Following the acquisition, the director now directly owns 8,450 shares in the company, valued at $574,600. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 3,763,000 shares of company stock valued at $251,378,960. 39.10% of the stock is owned by insiders.
Oracle (NYSE:ORCL) last posted its quarterly earnings results on Tuesday, March 9th. The enterprise software provider reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.05. Oracle had a net margin of 26.34% and a return on equity of 101.26%. The business had revenue of $10.09 billion during the quarter, compared to the consensus estimate of $10.07 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. Oracle’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities research analysts predict that Oracle Co. will post 3.86 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 22nd. Stockholders of record on Thursday, April 8th will be given a $0.32 dividend. This is a positive change from Oracle’s previous quarterly dividend of $0.24. This represents a $1.28 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Wednesday, April 7th. Oracle’s dividend payout ratio (DPR) is currently 27.75%.
ORCL has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of Oracle from $68.75 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, March 17th. Stifel Nicolaus lifted their price objective on Oracle from $56.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, March 17th. Citigroup started coverage on Oracle in a research note on Wednesday, March 3rd. They issued a “neutral” rating and a $65.00 price objective on the stock. KeyCorp raised their target price on Oracle from $70.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, March 15th. Finally, Sanford C. Bernstein reiterated a “buy” rating and issued a $81.00 price target on shares of Oracle in a research report on Thursday, March 11th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Oracle presently has an average rating of “Hold” and an average price target of $70.04.
Oracle Corporation provides products and services that address enterprise information technology environments worldwide. The company's cloud and license business engages in the sale, marketing, and delivery of its applications and infrastructure technologies through cloud and on-premise deployment models, including cloud services and license support; and cloud license and on-premise license.
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