SlateStone Wealth LLC Sells 499 Shares of Oracle Co. (NYSE:ORCL)

SlateStone Wealth LLC decreased its holdings in shares of Oracle Co. (NYSE:ORCL) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,713 shares of the enterprise software provider’s stock after selling 499 shares during the period. SlateStone Wealth LLC’s holdings in Oracle were worth $895,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas increased its position in Oracle by 20.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 843,981 shares of the enterprise software provider’s stock valued at $48,082,000 after buying an additional 144,451 shares in the last quarter. Bbva USA Bancshares Inc. lifted its position in Oracle by 0.5% during the second quarter. Bbva USA Bancshares Inc. now owns 290,325 shares of the enterprise software provider’s stock valued at $16,540,000 after purchasing an additional 1,499 shares in the last quarter. Heritage Wealth Advisors lifted its position in Oracle by 5.5% during the second quarter. Heritage Wealth Advisors now owns 5,570 shares of the enterprise software provider’s stock valued at $317,000 after purchasing an additional 291 shares in the last quarter. Manchester Capital Management LLC lifted its position in Oracle by 1.0% during the second quarter. Manchester Capital Management LLC now owns 49,316 shares of the enterprise software provider’s stock valued at $2,810,000 after purchasing an additional 500 shares in the last quarter. Finally, National Asset Management Inc. lifted its position in Oracle by 24.1% during the second quarter. National Asset Management Inc. now owns 21,210 shares of the enterprise software provider’s stock valued at $1,210,000 after purchasing an additional 4,125 shares in the last quarter. 53.71% of the stock is owned by hedge funds and other institutional investors.

Shares of ORCL stock traded up $0.28 during mid-day trading on Wednesday, hitting $53.26. 3,894,095 shares of the stock were exchanged, compared to its average volume of 10,435,984. The firm has a fifty day moving average of $56.81 and a 200 day moving average of $54.29. The company has a quick ratio of 2.49, a current 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. The company has a market cap of $178.77 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 1.56 and a beta of 1.15.

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

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, July 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.80%. Oracle’s dividend payout ratio is currently 30.38%.

A number of equities research analysts have commented on ORCL shares. Zacks Investment Research raised Oracle from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Wednesday, May 15th. Macquarie cut Oracle from an “outperform” rating to a “neutral” rating and reduced their target price 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $53.00 target price on shares of Oracle in a report on Tuesday, June 18th. Wedbush reaffirmed a “neutral” rating and issued a $55.00 target price (down from $55.92) on shares of Oracle in a report on Thursday, June 20th. Finally, Morgan Stanley lifted their target price on Oracle from $54.00 to $59.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 21st. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $55.14.

In related news, CAO W Corey West sold 50,000 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were 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 of the company’s stock, valued at approximately $4,800,825. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dorian Daley sold 100,000 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $56.92, for a total transaction of $5,692,000.00. Following the transaction, the executive vice president now directly owns 177,919 shares of the company’s stock, valued at approximately $10,127,149.48. 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. Insiders own 32.00% of the company’s stock.

About Oracle

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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