Oracle Co. (NYSE:ORCL) Shares Sold by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. cut its stake in shares of Oracle Co. (NYSE:ORCL) by 3.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,357,752 shares of the enterprise software provider’s stock after selling 55,650 shares during the period. Letko Brosseau & Associates Inc.’s holdings in Oracle were worth $77,351,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Evolution Wealth Advisors LLC raised its position in shares of 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 buying an additional 346 shares during the last quarter. Investors Research Corp acquired a new stake in shares of Oracle in the first quarter valued at about $30,000. Covenant Multifamily Offices LLC acquired a new stake in shares of Oracle in the first quarter valued at about $35,000. Clarfeld Financial Advisors LLC acquired a new stake in shares of Oracle in the fourth quarter valued at about $39,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in shares of Oracle in the second quarter valued at about $40,000. Institutional investors own 54.23% of the company’s stock.

A number of equities research analysts have recently commented on ORCL shares. UBS Group reiterated a “neutral” rating and issued a $54.00 target price on shares of Oracle in a research report on Friday, June 14th. BMO Capital Markets reissued a “market perform” rating and issued a $59.00 price objective (up previously from $53.00) on shares of Oracle in a report on Thursday, June 20th. William Blair reissued a “market perform” rating on shares of Oracle in a report on Thursday, June 20th. Zacks Investment Research raised shares of Oracle from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Wednesday, May 15th. Finally, Jefferies Financial Group upped their price objective on shares of Oracle from $61.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Three equities 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. Oracle has an average rating of “Hold” and an average target price of $54.76.

In other Oracle news, CEO Mark V. Hurd sold 787,500 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $56.29, for a total transaction of $44,328,375.00. Following the completion of the transaction, the chief executive officer now owns 874,871 shares of the company’s stock, valued at $49,246,488.59. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO W Corey West sold 50,000 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 85,348 shares of the company’s stock, valued at approximately $4,800,825. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,352,500 shares of company stock valued at $76,708,925. 32.00% of the stock is currently owned by insiders.

ORCL stock traded down $0.09 during mid-day trading on Thursday, hitting $52.24. 6,199,788 shares of the company were exchanged, compared to its average volume of 10,297,502. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $177.57 billion, a price-to-earnings ratio of 16.53, a P/E/G ratio of 1.55 and a beta of 1.15. The firm’s fifty day simple moving average is $57.26. Oracle Co. has a 12-month low of $42.40 and a 12-month high of $60.50.

Oracle (NYSE:ORCL) last announced its earnings results on Wednesday, June 19th. The enterprise software provider reported $1.16 earnings per share for the quarter, topping the Thomson Reuters’ 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 net margin of 28.06% and a return on equity of 40.95%. Oracle’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.99 earnings per share. As a group, equities analysts expect that Oracle Co. will post 3.5 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Tuesday, July 16th. Oracle’s dividend payout ratio (DPR) is presently 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.

Further Reading: Momentum Indicators

Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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