Oracle Corporation (ORCL) Shares Sold by Covington Capital Management
Covington Capital Management lessened its holdings in shares of Oracle Corporation (NYSE:ORCL) by 1.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 162,801 shares of the enterprise software provider’s stock after selling 3,067 shares during the period. Covington Capital Management’s holdings in Oracle were worth $8,163,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of ORCL. Acrospire Investment Management LLC raised its holdings in Oracle by 947.4% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after acquiring an additional 1,800 shares in the last quarter. Burt Wealth Advisors raised its holdings in Oracle by 4.3% in the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after acquiring an additional 88 shares in the last quarter. TrimTabs Asset Management LLC raised its holdings in Oracle by 88.8% in the 1st quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock valued at $120,000 after acquiring an additional 1,264 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Oracle in the 2nd quarter valued at approximately $129,000. Finally, Heritage Trust Co acquired a new position in Oracle in the 1st quarter valued at approximately $130,000. 57.70% of the stock is owned by institutional investors and hedge funds.
Oracle Corporation (NYSE ORCL) traded down $0.08 during midday trading on Wednesday, reaching $50.39. The company had a trading volume of 17,463,900 shares, compared to its average volume of 13,295,502. The company has a market cap of $210,635.83, a price-to-earnings ratio of 19.79, a PEG ratio of 1.92 and a beta of 1.05. Oracle Corporation has a 1-year low of $38.30 and a 1-year high of $53.14. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.61 and a current ratio of 3.63.
Oracle (NYSE:ORCL) last announced its quarterly earnings data on Thursday, September 14th. The enterprise software provider reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The firm had revenue of $9.21 billion for the quarter, compared to analyst estimates of $9.03 billion. Oracle had a return on equity of 20.55% and a net margin of 25.34%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.55 EPS. research analysts anticipate that Oracle Corporation will post 2.68 earnings per share for the current year.
ORCL has been the subject of a number of recent research reports. Moffett Nathanson initiated coverage on Oracle in a report on Wednesday, September 6th. They issued a “buy” rating and a $65.00 target price for the company. Vetr raised Oracle from a “strong sell” rating to a “sell” rating and set a $46.58 target price for the company in a report on Monday, September 18th. J P Morgan Chase & Co set a $55.00 target price on Oracle and gave the stock a “buy” rating in a report on Tuesday. Zacks Investment Research raised Oracle from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a report on Friday, August 18th. Finally, BidaskClub cut Oracle from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Thirteen analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $55.05.
In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $50.35, for a total value of $188,812.50. Following the transaction, the director now directly owns 18,125 shares in the company, valued at approximately $912,593.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey Berg sold 45,000 shares of the stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $48.03, for a total value of $2,161,350.00. The disclosure for this sale can be found here. Insiders sold a total of 305,776 shares of company stock worth $14,821,999 over the last quarter. Corporate insiders own 29.00% of the company’s stock.
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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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