Canandaigua National Bank & Trust Co. Lowers Position in Oracle Corporation (NYSE:ORCL)
Canandaigua National Bank & Trust Co. decreased its position in Oracle Corporation (NYSE:ORCL) by 4.2% during the first quarter, Holdings Channel reports. The firm owned 124,026 shares of the enterprise software provider’s stock after selling 5,428 shares during the period. Oracle Corporation makes up approximately 1.6% of Canandaigua National Bank & Trust Co.’s holdings, making the stock its 12th largest position. Canandaigua National Bank & Trust Co.’s holdings in Oracle Corporation were worth $5,532,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the company. FTB Advisors Inc. boosted its position in Oracle Corporation by 1.8% in the first quarter. FTB Advisors Inc. now owns 17,501 shares of the enterprise software provider’s stock worth $781,000 after buying an additional 304 shares during the period. Greatmark Investment Partners Inc. purchased a new position in Oracle Corporation during the first quarter worth about $203,000. Public Employees Retirement Association of Colorado boosted its position in Oracle Corporation by 8.8% in the first quarter. Public Employees Retirement Association of Colorado now owns 3,136,016 shares of the enterprise software provider’s stock worth $139,898,000 after buying an additional 252,796 shares during the period. First Trust Advisors LP boosted its position in Oracle Corporation by 17.8% in the first quarter. First Trust Advisors LP now owns 1,893,981 shares of the enterprise software provider’s stock worth $84,490,000 after buying an additional 286,202 shares during the period. Finally, Elkhorn Investments LLC purchased a new position in Oracle Corporation during the first quarter worth about $1,185,000. Hedge funds and other institutional investors own 58.54% of the company’s stock.
Shares of Oracle Corporation (NYSE ORCL) opened at 50.44 on Tuesday. Oracle Corporation has a 52 week low of $37.62 and a 52 week high of $51.85. The company has a 50 day moving average of $46.11 and a 200 day moving average of $43.14. The company has a market cap of $208.65 billion, a PE ratio of 22.82 and a beta of 1.06.
Oracle Corporation (NYSE:ORCL) last released its earnings results on Wednesday, June 21st. The enterprise software provider reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.11. Oracle Corporation had a net margin of 24.74% and a return on equity of 20.90%. The company had revenue of $10.94 billion for the quarter, compared to analyst estimates of $10.45 billion. During the same quarter last year, the firm earned $0.81 EPS. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts expect that Oracle Corporation will post $2.96 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 2nd. Investors of record on Wednesday, July 19th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Monday, July 17th. Oracle Corporation’s dividend payout ratio is currently 34.55%.
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Several equities analysts have recently weighed in on the company. KeyCorp restated a “buy” rating and issued a $61.00 price objective on shares of Oracle Corporation in a report on Tuesday. Bank of America Corporation decreased their price objective on Oracle Corporation from $62.00 to $54.00 and set a “buy” rating for the company in a report on Friday, June 30th. Jefferies Group LLC restated a “buy” rating and issued a $60.00 price objective on shares of Oracle Corporation in a report on Wednesday, June 28th. Mitsubishi UFJ Financial Group set a $63.00 price objective on Oracle Corporation and gave the company a “buy” rating in a report on Monday, June 26th. Finally, MKM Partners restated a “neutral” rating and issued a $48.00 price objective (up previously from $45.00) on shares of Oracle Corporation in a report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirty-one have issued a buy rating to the stock. Oracle Corporation has a consensus rating of “Buy” and a consensus target price of $50.52.
In related news, EVP W Corey West sold 150,000 shares of the stock in a transaction on Monday, June 26th. The shares were sold at an average price of $51.39, for a total transaction of $7,708,500.00. Following the transaction, the executive vice president now owns 177,988 shares of the company’s stock, valued at approximately $9,146,803.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Safra Catz sold 103,520 shares of the stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $45.01, for a total transaction of $4,659,435.20. Following the transaction, the chief executive officer now directly owns 565,380 shares in the company, valued at approximately $25,447,753.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,561,351 shares of company stock worth $75,910,784. 29.00% of the stock is owned by insiders.
About Oracle Corporation
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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