M&R Capital Management Inc. cut its holdings in shares of Oracle Co. (NYSE:ORCL) by 15.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,544 shares of the enterprise software provider’s stock after selling 278 shares during the quarter. M&R Capital Management Inc.’s holdings in Oracle were worth $108,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Thomasville National Bank increased its stake in Oracle by 4.2% in the first quarter. Thomasville National Bank now owns 20,180 shares of the enterprise software provider’s stock valued at $975,000 after acquiring an additional 818 shares during the last quarter. Pensionfund DSM Netherlands bought a new position in Oracle in the first quarter valued at approximately $5,263,000. Pensionfund Sabic bought a new position in Oracle in the first quarter valued at approximately $3,438,000. Koshinski Asset Management Inc. increased its stake in Oracle by 72.5% in the fourth quarter. Koshinski Asset Management Inc. now owns 22,430 shares of the enterprise software provider’s stock valued at $1,450,000 after acquiring an additional 9,428 shares during the last quarter. Finally, Bard Financial Services Inc. bought a new position in Oracle in the fourth quarter valued at approximately $4,145,000. 47.54% of the stock is currently owned by institutional investors.
In other Oracle news, CEO Safra Catz sold 1,150,000 shares of Oracle stock in a transaction on Monday, March 22nd. The shares were sold at an average price of $66.31, for a total value of $76,256,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,218,592 shares of the company’s stock, valued at $147,114,835.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of Oracle stock in a transaction on Friday, March 5th. The shares were sold at an average price of $70.03, for a total transaction of $28,012,000.00. Following the completion of the sale, the insider now directly owns 400,000 shares of the company’s stock, valued at $28,012,000. The disclosure for this sale can be found here. Insiders have sold 3,763,000 shares of company stock valued at $251,378,960 in the last three months. 39.10% of the stock is owned by insiders.
Oracle (NYSE:ORCL) last announced its earnings results on Tuesday, March 9th. The enterprise software provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. Oracle had a net margin of 26.34% and a return on equity of 101.26%. The business had revenue of $10.09 billion during the quarter, compared to the consensus estimate of $10.07 billion. During the same quarter last year, the firm earned $0.97 earnings per share. Oracle’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities analysts expect that Oracle Co. will post 3.86 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 22nd. Investors of record on Thursday, April 8th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Wednesday, April 7th. This is an increase from Oracle’s previous quarterly dividend of $0.24. Oracle’s dividend payout ratio (DPR) is currently 27.75%.
A number of brokerages recently issued reports on ORCL. Piper Sandler lifted their price objective on shares of Oracle from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, December 11th. KeyCorp lifted their price objective on shares of Oracle from $70.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, March 15th. Wedbush began coverage on shares of Oracle in a research report on Wednesday, March 31st. They issued a “neutral” rating and a $54.00 target price on the stock. Societe Generale restated a “hold” rating on shares of Oracle in a research report on Wednesday, March 17th. Finally, Cowen raised their target price on shares of Oracle from $70.00 to $77.00 and gave the company an “outperform” rating in a research report on Monday, March 8th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $70.04.
Oracle Company Profile
Oracle Corporation provides products and services that address enterprise information technology environments worldwide. The company's cloud and license business engages in the sale, marketing, and delivery of its applications and infrastructure technologies through cloud and on-premise deployment models, including cloud services and license support; and cloud license and on-premise license.
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