Orrstown Financial Services Inc. cut its position in Oracle Corporation (NYSE:ORCL) by 6.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,740 shares of the enterprise software provider’s stock after selling 175 shares during the period. Orrstown Financial Services Inc.’s holdings in Oracle Corporation were worth $138,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in Oracle Corporation by 1,150.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,500 shares of the enterprise software provider’s stock valued at $112,000 after buying an additional 2,300 shares during the last quarter. Reilly Financial Advisors LLC increased its position in shares of Oracle Corporation by 8.7% in the first quarter. Reilly Financial Advisors LLC now owns 2,503 shares of the enterprise software provider’s stock valued at $112,000 after buying an additional 200 shares during the period. Gradient Investments LLC increased its position in shares of Oracle Corporation by 79.9% in the first quarter. Gradient Investments LLC now owns 2,548 shares of the enterprise software provider’s stock valued at $114,000 after buying an additional 1,132 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Oracle Corporation during the second quarter valued at about $129,000. Finally, TrimTabs Asset Management LLC increased its position in shares of Oracle Corporation by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock valued at $120,000 after buying an additional 1,264 shares during the period. Hedge funds and other institutional investors own 58.79% of the company’s stock.
Shares of Oracle Corporation (ORCL) traded up 0.14% during mid-day trading on Friday, hitting $48.62. The stock had a trading volume of 10,248,442 shares. The stock has a 50 day moving average price of $49.83 and a 200 day moving average price of $45.71. The firm has a market cap of $201.13 billion, a PE ratio of 22.00 and a beta of 1.06. Oracle Corporation has a 52 week low of $37.62 and a 52 week high of $51.85. Oracle Corporation also was the target of some unusual options trading on Tuesday. Stock traders acquired 19,908 call options on the company. This represents an increase of approximately 103% compared to the average volume of 9,799 call options.
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, beating the Zacks’ consensus estimate of $0.78 by $0.11. Oracle Corporation had a return on equity of 20.90% and a net margin of 24.74%. The business had revenue of $10.94 billion for the quarter, compared to the consensus estimate of $10.45 billion. During the same quarter last year, the business posted $0.81 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. 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. The ex-dividend date of this dividend was Monday, July 17th. This represents a $0.76 dividend on an annualized basis and a yield of 1.56%. Oracle Corporation’s payout ratio is 34.55%.
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Several equities analysts have recently issued reports on the stock. UBS AG reissued a “buy” rating and set a $52.00 price target (up previously from $48.00) on shares of Oracle Corporation in a report on Thursday, June 22nd. They noted that the move was a valuation call. Zacks Investment Research raised shares of Oracle Corporation from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Friday. BidaskClub downgraded shares of Oracle Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $54.00 price objective on shares of Oracle Corporation in a report on Tuesday, June 13th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Oracle Corporation in a report on Tuesday, June 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirty have given a buy rating to the company. Oracle Corporation currently has an average rating of “Buy” and an average target price of $50.81.
In other news, EVP W Corey West sold 150,000 shares of Oracle Corporation stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $51.39, for a total value of $7,708,500.00. Following the transaction, the executive vice president now owns 177,988 shares in the company, valued at $9,146,803.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas Kurian sold 750,000 shares of Oracle Corporation stock in a transaction dated 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 completion of the transaction, 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. Insiders have sold 1,817,500 shares of company stock worth $91,560,925 in the last 90 days. Company insiders own 29.00% of the company’s stock.
Oracle Corporation Company Profile
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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