Hartford Investment Management Co. Cuts Position in Oracle Co. (NYSE:ORCL)

Hartford Investment Management Co. trimmed its position in Oracle Co. (NYSE:ORCL) by 2.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 423,682 shares of the enterprise software provider’s stock after selling 8,680 shares during the quarter. Hartford Investment Management Co.’s holdings in Oracle were worth $24,137,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ORCL. Magellan Asset Management Ltd raised its holdings in shares of Oracle by 0.5% during the 4th quarter. Magellan Asset Management Ltd now owns 30,936,949 shares of the enterprise software provider’s stock valued at $1,396,803,000 after buying an additional 148,974 shares during the period. Norges Bank purchased a new stake in shares of Oracle during the 4th quarter valued at about $1,235,719,000. Clearbridge Investments LLC raised its holdings in shares of Oracle by 1.7% during the 1st quarter. Clearbridge Investments LLC now owns 20,778,045 shares of the enterprise software provider’s stock valued at $1,115,989,000 after buying an additional 345,982 shares during the period. Nordea Investment Management AB raised its holdings in shares of Oracle by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 15,877,915 shares of the enterprise software provider’s stock valued at $716,891,000 after buying an additional 626,766 shares during the period. Finally, Boston Partners raised its holdings in shares of Oracle by 5.0% during the 1st quarter. Boston Partners now owns 13,088,162 shares of the enterprise software provider’s stock valued at $702,965,000 after buying an additional 626,663 shares during the period. Institutional investors own 54.26% of the company’s stock.

In related news, Director Michael J. Boskin sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $56.65, for a total transaction of $8,497,500.00. Following the completion of the transaction, the director now owns 134,796 shares in the company, valued at approximately $7,636,193.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $54.52, for a total value of $204,450.00. Following the transaction, the director now owns 27,969 shares of the company’s stock, valued at approximately $1,524,869.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,356,250 shares of company stock valued at $76,913,375. Insiders own 32.00% of the company’s stock.

Several equities research analysts recently commented on ORCL shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $53.00 target price on shares of Oracle in a report on Tuesday, June 18th. Wells Fargo & Co raised their target price on Oracle from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, June 20th. Goldman Sachs Group reiterated a “buy” rating and set a $58.00 target price on shares of Oracle in a report on Thursday, June 20th. Raymond James lifted their price objective on Oracle from $57.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. Finally, Macquarie downgraded Oracle from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $56.00 to $55.00 in a report on Tuesday, June 18th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and nine have assigned a buy rating to the company’s stock. Oracle presently has a consensus rating of “Hold” and an average price target of $54.58.

Shares of ORCL opened at $54.61 on Monday. The firm has a market cap of $186.27 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15. The business has a 50 day moving average price of $57.41. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 2.31. Oracle Co. has a 52 week low of $42.40 and a 52 week high of $60.50.

Oracle (NYSE:ORCL) last issued its earnings results on Wednesday, June 19th. The enterprise software provider reported $1.16 EPS for the quarter, topping the consensus estimate of $0.98 by $0.18. The company had revenue of $11.14 billion during the quarter, compared to analyst estimates of $10.93 billion. Oracle had a return on equity of 40.95% and a net margin of 28.06%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 EPS. As a group, sell-side analysts forecast that Oracle Co. will post 3.5 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th were given a $0.24 dividend. The ex-dividend date was Tuesday, July 16th. This represents a $0.96 annualized dividend and a dividend yield of 1.76%. Oracle’s payout ratio is 30.38%.

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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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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