Culbertson A N & Co. Inc. reduced its position in Oracle Co. (NYSE:ORCL) by 2.9% during the 1st quarter, Holdings Channel reports. The firm owned 99,872 shares of the enterprise software provider’s stock after selling 3,013 shares during the period. Oracle accounts for about 1.5% of Culbertson A N & Co. Inc.’s portfolio, making the stock its 23rd biggest position. Culbertson A N & Co. Inc.’s holdings in Oracle were worth $5,364,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealthquest Corp acquired a new stake in shares of Oracle during the fourth quarter worth $202,000. Smith Moore & CO. lifted its stake in shares of Oracle by 7.8% during the fourth quarter. Smith Moore & CO. now owns 14,746 shares of the enterprise software provider’s stock worth $666,000 after buying an additional 1,073 shares during the period. SevenBridge Financial Group LLC lifted its stake in shares of Oracle by 246.4% during the fourth quarter. SevenBridge Financial Group LLC now owns 46,361 shares of the enterprise software provider’s stock worth $2,093,000 after buying an additional 32,978 shares during the period. Trust Co. of Vermont lifted its stake in shares of Oracle by 10.9% during the fourth quarter. Trust Co. of Vermont now owns 54,368 shares of the enterprise software provider’s stock worth $2,455,000 after buying an additional 5,341 shares during the period. Finally, Perpetual Ltd lifted its stake in shares of Oracle by 189.2% during the fourth quarter. Perpetual Ltd now owns 236,175 shares of the enterprise software provider’s stock worth $10,585,000 after buying an additional 154,500 shares during the period. 47.34% of the stock is currently owned by institutional investors and hedge funds.
In other Oracle news, insider Jeffrey Henley sold 400,000 shares of Oracle stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $54.03, for a total value of $21,612,000.00. Following the completion of the transaction, the insider now owns 400,000 shares of the company’s stock, valued at $21,612,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward Screven sold 600,000 shares of Oracle stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $54.96, for a total transaction of $32,976,000.00. Following the completion of the transaction, the insider now directly owns 2,812,345 shares of the company’s stock, valued at approximately $154,566,481.20. The disclosure for this sale can be found here. Insiders sold 2,473,750 shares of company stock valued at $133,872,063 in the last ninety days. 32.00% of the stock is owned by corporate insiders.
Oracle (NYSE:ORCL) last released its quarterly earnings data on Thursday, March 14th. The enterprise software provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Oracle had a net margin of 27.14% and a return on equity of 34.03%. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.59 billion. During the same quarter in the previous year, the company earned $0.83 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. On average, equities analysts predict that Oracle Co. will post 3.08 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Thursday, April 11th were issued a $0.24 dividend. This is a boost from Oracle’s previous quarterly dividend of $0.19. The ex-dividend date was Wednesday, April 10th. This represents a $0.96 dividend on an annualized basis and a yield of 1.77%. Oracle’s payout ratio is presently 34.04%.
ORCL has been the subject of several research reports. Morgan Stanley downgraded shares of Oracle from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $57.00 to $53.00 in a research note on Tuesday, January 15th. Goldman Sachs Group reiterated a “buy” rating and set a $55.00 price objective on shares of Oracle in a research note on Thursday, February 14th. Credit Suisse Group reiterated a “buy” rating and set a $60.00 price objective on shares of Oracle in a research note on Monday, February 18th. Standpoint Research downgraded shares of Oracle from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. Finally, Zacks Investment Research upgraded shares of Oracle from a “sell” rating to a “hold” rating in a research report on Thursday, February 21st. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $52.53.
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Oracle Company Profile
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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