Twin Capital Management Inc. lowered its stake in Oracle Co. (NYSE:ORCL) by 22.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 131,764 shares of the enterprise software provider’s stock after selling 38,156 shares during the quarter. Twin Capital Management Inc.’s holdings in Oracle were worth $7,507,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Evolution Wealth Advisors LLC lifted its position in Oracle by 346.0% in the second quarter. Evolution Wealth Advisors LLC now owns 446 shares of the enterprise software provider’s stock valued at $25,000 after purchasing an additional 346 shares during the last quarter. Investors Research Corp bought a new position in shares of Oracle during the first quarter valued at approximately $30,000. Covenant Multifamily Offices LLC bought a new position in shares of Oracle during the first quarter valued at approximately $35,000. Clarfeld Financial Advisors LLC bought a new position in shares of Oracle during the fourth quarter valued at approximately $39,000. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Oracle during the second quarter valued at approximately $40,000. Hedge funds and other institutional investors own 54.23% of the company’s stock.
ORCL has been the topic of several recent research reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $53.00 price target on shares of Oracle in a research note on Tuesday, June 18th. Jefferies Financial Group increased their target price on Oracle from $61.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. KeyCorp reissued a “hold” rating on shares of Oracle in a research note on Thursday, June 20th. ValuEngine cut Oracle from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $59.00 target price (up from $53.00) on shares of Oracle in a research note on Thursday, June 20th. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $54.76.
Oracle (NYSE:ORCL) last released its earnings results on Wednesday, June 19th. The enterprise software provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.18. Oracle had a return on equity of 40.95% and a net margin of 28.06%. The firm had revenue of $11.14 billion during the quarter, compared to analysts’ expectations of $10.93 billion. During the same quarter last year, the business posted $0.99 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. Research analysts expect that Oracle Co. will post 3.5 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Tuesday, July 16th. Oracle’s dividend payout ratio is presently 30.38%.
In other Oracle news, CAO W Corey West sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $56.25, for a total transaction of $2,812,500.00. Following the completion of the transaction, the chief accounting officer now owns 85,348 shares in the company, valued at approximately $4,800,825. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Naomi O. Seligman sold 90,000 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $59.52, for a total value of $5,356,800.00. Following the transaction, the director now owns 82,310 shares of the company’s stock, valued at approximately $4,899,091.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,352,500 shares of company stock valued at $76,708,925 in the last 90 days. 32.00% of the stock is currently owned by company insiders.
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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