Aspen Investment Management Inc decreased its stake in Oracle Corporation (NYSE:ORCL) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,014 shares of the enterprise software provider’s stock after selling 245 shares during the period. Aspen Investment Management Inc’s holdings in Oracle Corporation were worth $402,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in shares of Oracle Corporation by 2.9% in the first quarter. Bank of New York Mellon Corp now owns 53,750,832 shares of the enterprise software provider’s stock valued at $2,397,824,000 after buying an additional 1,521,879 shares during the last quarter. Point View Wealth Management Inc. increased its stake in shares of Oracle Corporation by 7.4% in the first quarter. Point View Wealth Management Inc. now owns 6,922 shares of the enterprise software provider’s stock valued at $309,000 after buying an additional 477 shares during the last quarter. NTV Asset Management LLC purchased a new stake in shares of Oracle Corporation during the first quarter valued at $224,000. Pinnacle Financial Partners Inc. increased its stake in shares of Oracle Corporation by 3.2% in the first quarter. Pinnacle Financial Partners Inc. now owns 104,379 shares of the enterprise software provider’s stock valued at $4,656,000 after buying an additional 3,246 shares during the last quarter. Finally, Buffington Mohr McNeal increased its stake in shares of Oracle Corporation by 3.1% in the first quarter. Buffington Mohr McNeal now owns 10,422 shares of the enterprise software provider’s stock valued at $465,000 after buying an additional 310 shares during the last quarter. Institutional investors own 58.79% of the company’s stock.
Shares of Oracle Corporation (ORCL) traded up 0.14% during trading on Friday, reaching $48.62. 10,248,442 shares of the company traded hands. Oracle Corporation has a 12 month low of $37.62 and a 12 month high of $51.85. The stock’s 50 day moving average price is $49.83 and its 200-day moving average price is $45.71. The stock has a market cap of $201.13 billion, a P/E ratio of 22.00 and a beta of 1.06.
Oracle Corporation (NYSE:ORCL) last released its quarterly earnings results on Wednesday, June 21st. The enterprise software provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.11. Oracle Corporation had a return on equity of 20.90% and a net margin of 24.74%. The firm had revenue of $10.94 billion during the quarter, compared to the consensus estimate of $10.45 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. The business’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts expect that Oracle Corporation will post $2.96 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Wednesday, July 19th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Monday, July 17th. Oracle Corporation’s dividend payout ratio (DPR) is currently 34.55%.
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A number of analysts recently commented on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $52.00 price target on shares of Oracle Corporation in a report on Tuesday, July 25th. Pacific Crest reissued an “equal weight” rating on shares of Oracle Corporation in a research report on Friday, June 23rd. MKM Partners reissued a “neutral” rating and issued a $48.00 price objective (up previously from $45.00) on shares of Oracle Corporation in a research report on Friday, June 23rd. Mitsubishi UFJ Financial Group set a $63.00 price objective on shares of Oracle Corporation and gave the company a “buy” rating in a research report on Monday, June 26th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Oracle Corporation in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirty have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $50.81.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $48.86, for a total transaction of $183,225.00. Following the sale, the director now owns 18,125 shares in the company, valued at approximately $885,587.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas Kurian sold 750,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $50.46, for a total value of $37,845,000.00. Following the sale, the insider now owns 783,533 shares in the company, valued at approximately $39,537,075.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,817,500 shares of company stock valued at $91,560,925. Insiders own 29.00% of the company’s stock.
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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