Oracle Corporation (NYSE:ORCL) Position Reduced by Founders Capital Management
Founders Capital Management decreased its stake in shares of Oracle Corporation (NYSE:ORCL) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,267 shares of the enterprise software provider’s stock after selling 500 shares during the period. Founders Capital Management’s holdings in Oracle Corporation were worth $665,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Jarislowsky Fraser Ltd increased its stake in shares of Oracle Corporation by 3.6% in the fourth quarter. Jarislowsky Fraser Ltd now owns 3,520,955 shares of the enterprise software provider’s stock worth $135,380,000 after buying an additional 121,216 shares in the last quarter. AE Wealth Management LLC purchased a new stake in shares of Oracle Corporation during the fourth quarter worth approximately $272,000. CMH Wealth Management LLC purchased a new stake in shares of Oracle Corporation during the fourth quarter worth approximately $1,321,000. SNS Financial Group LLC increased its stake in shares of Oracle Corporation by 4.0% in the fourth quarter. SNS Financial Group LLC now owns 38,666 shares of the enterprise software provider’s stock worth $1,487,000 after buying an additional 1,502 shares in the last quarter. Finally, Sowell Financial Services LLC purchased a new stake in shares of Oracle Corporation during the fourth quarter worth approximately $273,000. Hedge funds and other institutional investors own 58.67% of the company’s stock.
Shares of Oracle Corporation (NYSE:ORCL) traded down 0.54% during mid-day trading on Friday, hitting $49.96. The stock had a trading volume of 7,025,257 shares. The company has a market cap of $206.67 billion, a P/E ratio of 22.61 and a beta of 1.06. The firm’s 50 day moving average price is $49.35 and its 200 day moving average price is $44.95. Oracle Corporation has a 1-year low of $37.62 and a 1-year high of $51.85.
Oracle Corporation (NYSE:ORCL) last released its quarterly earnings data on Wednesday, June 21st. The enterprise software provider reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.11. The company had revenue of $10.94 billion for the quarter, compared to analysts’ expectations of $10.45 billion. Oracle Corporation had a net margin of 24.74% and a return on equity of 20.90%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 EPS. Analysts predict that Oracle Corporation will post $2.96 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Wednesday, July 19th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, July 17th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.52%. Oracle Corporation’s dividend payout ratio (DPR) is presently 34.55%.
ORCL has been the subject of a number of research reports. Sanford C. Bernstein reiterated an “outperform” rating and issued a $54.00 price objective on shares of Oracle Corporation in a research report on Tuesday, June 13th. Goldman Sachs Group, Inc. (The) set a $49.00 price objective on Oracle Corporation and gave the stock a “buy” rating in a research report on Monday, June 12th. Canaccord Genuity downgraded Oracle Corporation to a “buy” rating and raised their price objective for the stock from $49.00 to $56.00 in a research report on Thursday, June 22nd. UBS AG reiterated a “buy” rating and issued a $52.00 price objective (up previously from $48.00) on shares of Oracle Corporation in a research report on Thursday, June 22nd. They noted that the move was a valuation call. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $62.00 price objective (up previously from $53.00) on shares of Oracle Corporation in a research report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirty-one have assigned a buy rating to the stock. Oracle Corporation currently has an average rating of “Buy” and a consensus price target of $50.70.
In other news, EVP W Corey West sold 150,000 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Kurian sold 750,000 shares of the stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $50.46, for a total transaction of $37,845,000.00. Following the transaction, the insider now directly owns 783,533 shares in the company, valued at approximately $39,537,075.18. The disclosure for this sale can be found here. Insiders have sold a total of 1,817,500 shares of company stock worth $91,547,388 in the last three months. Insiders own 29.00% of the company’s stock.
Oracle Corporation Company Profile
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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