Oracle Co. (NYSE:ORCL) Shares Sold by Norway Savings Bank

Norway Savings Bank lessened its stake in shares of Oracle Co. (NYSE:ORCLGet Rating) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,984 shares of the enterprise software provider’s stock after selling 915 shares during the quarter. Norway Savings Bank’s holdings in Oracle were worth $1,956,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bivin & Associates Inc. acquired a new position in Oracle in the fourth quarter valued at $35,000. Ulland Investment Advisors LLC increased its stake in Oracle by 469.0% in the first quarter. Ulland Investment Advisors LLC now owns 404 shares of the enterprise software provider’s stock valued at $33,000 after purchasing an additional 333 shares during the last quarter. Steward Financial Group LLC acquired a new position in Oracle in the first quarter valued at $33,000. Western Pacific Wealth Management LP acquired a new position in Oracle in the fourth quarter valued at $43,000. Finally, Exane Derivatives acquired a new position in Oracle in the first quarter valued at $58,000. Institutional investors and hedge funds own 41.92% of the company’s stock.

Insider Transactions at Oracle

In other news, insider Edward Screven sold 419,174 shares of the stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $69.22, for a total transaction of $29,015,224.28. Following the sale, the insider now directly owns 2,492,613 shares in the company, valued at approximately $172,538,671.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 39.10% of the company’s stock.

Oracle Trading Down 2.2 %

NYSE ORCL traded down $1.48 on Friday, hitting $64.55. 9,107,560 shares of the stock traded hands, compared to its average volume of 8,390,897. The stock has a 50-day moving average of $74.89 and a 200 day moving average of $74.58. Oracle Co. has a twelve month low of $63.76 and a twelve month high of $106.34. The company has a market capitalization of $174.00 billion, a P/E ratio of 30.74, a price-to-earnings-growth ratio of 2.02 and a beta of 0.87.

Oracle (NYSE:ORCLGet Rating) last announced its quarterly earnings data on Monday, September 12th. The enterprise software provider reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.07). The firm had revenue of $11.45 billion for the quarter, compared to analyst estimates of $11.44 billion. Oracle had a net margin of 13.15% and a negative return on equity of 161.07%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.87 EPS. As a group, equities research analysts expect that Oracle Co. will post 4.13 earnings per share for the current year.

Oracle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Wednesday, October 12th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, October 11th. Oracle’s payout ratio is 60.95%.

Analyst Upgrades and Downgrades

Several brokerages have commented on ORCL. Exane BNP Paribas upgraded Oracle from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 29th. Stifel Nicolaus dropped their price target on Oracle from $83.00 to $72.00 in a research note on Tuesday, June 14th. Guggenheim began coverage on Oracle in a research note on Friday, August 12th. They set a “buy” rating and a $107.00 price target for the company. Evercore ISI upped their price target on Oracle from $78.00 to $87.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 13th. Finally, Cowen dropped their price target on Oracle from $107.00 to $98.00 in a research note on Thursday, June 9th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $88.67.

Oracle Profile

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Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.

Further Reading

Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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