First Merchants Corp Acquires 1,776 Shares of Oracle Corp. (ORCL)
First Merchants Corp raised its position in Oracle Corp. (NYSE:ORCL) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,160 shares of the enterprise software provider’s stock after buying an additional 1,776 shares during the period. First Merchants Corp’s holdings in Oracle Corp. were worth $2,790,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. Cribstone Capital Management LLC purchased a new position in Oracle Corp. during the second quarter worth $102,000. FCM Investments TX raised its position in Oracle Corp. by 20.0% in the second quarter. FCM Investments TX now owns 3,000 shares of the enterprise software provider’s stock worth $123,000 after buying an additional 500 shares during the period. Ironwood Financial llc purchased a new position in Oracle Corp. during the first quarter worth $147,000. Gardner Russo & Gardner LLC purchased a new position in Oracle Corp. during the first quarter worth $205,000. Finally, Natixis purchased a new position in Oracle Corp. during the first quarter worth $230,000. Institutional investors and hedge funds own 58.24% of the company’s stock.
Oracle Corp. (NYSE:ORCL) traded down 0.03% during trading on Friday, reaching $38.71. The company’s stock had a trading volume of 11,442,032 shares. The stock’s 50 day moving average is $40.15 and its 200-day moving average is $40.32. Oracle Corp. has a 52 week low of $33.13 and a 52 week high of $42.00. The firm has a market cap of $158.93 billion, a P/E ratio of 18.39 and a beta of 1.23.
Oracle Corp. (NYSE:ORCL) last announced its earnings results on Thursday, September 15th. The enterprise software provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.58 by $0.03. The business had revenue of $8.60 billion for the quarter. Oracle Corp. had a return on equity of 22.10% and a net margin of 24.16%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 EPS. On average, equities research analysts forecast that Oracle Corp. will post $2.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 12th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.55%. The ex-dividend date is Friday, October 7th. Oracle Corp.’s dividend payout ratio is 28.57%.
A number of equities research analysts have commented on the company. Citigroup Inc. reissued a “hold” rating on shares of Oracle Corp. in a report on Saturday, June 18th. DA Davidson reissued a “buy” rating and issued a $52.00 target price on shares of Oracle Corp. in a report on Saturday, September 17th. SunTrust Banks Inc. set a $48.00 target price on Oracle Corp. and gave the company a “buy” rating in a report on Saturday, September 17th. Rosenblatt Securities set a $48.00 target price on Oracle Corp. and gave the company a “buy” rating in a report on Saturday, September 17th. Finally, Jefferies Group reissued a “buy” rating and issued a $50.00 target price on shares of Oracle Corp. in a report on Monday, June 13th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-seven have issued a buy rating to the stock. Oracle Corp. presently has an average rating of “Buy” and a consensus target price of $44.76.
In related news, EVP Dorian Daley sold 16,065 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $39.61, for a total value of $636,334.65. Following the transaction, the executive vice president now owns 25,000 shares in the company, valued at $990,250. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $41.78, for a total value of $156,675.00. Following the completion of the transaction, the director now owns 8,281 shares in the company, valued at approximately $345,980.18. The disclosure for this sale can be found here. 29.00% of the stock is owned by corporate insiders.
About Oracle Corp.
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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