Greystone Investment Management LLC lowered its stake in shares of Oracle Corp. (NYSE:ORCL) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 185,656 shares of the enterprise software provider’s stock after selling 473 shares during the period. Oracle Corp. comprises approximately 3.4% of Greystone Investment Management LLC’s portfolio, making the stock its 10th largest position. Greystone Investment Management LLC’s holdings in Oracle Corp. were worth $7,599,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cribstone Capital Management LLC acquired a new position in shares of Oracle Corp. during the second quarter worth approximately $102,000. FCM Investments TX increased its position in shares of Oracle Corp. by 20.0% in the second quarter. FCM Investments TX now owns 3,000 shares of the enterprise software provider’s stock worth $123,000 after buying an additional 500 shares during the last quarter. Ironwood Financial llc acquired a new position in shares of Oracle Corp. during the first quarter worth approximately $147,000. Gardner Russo & Gardner LLC acquired a new position in shares of Oracle Corp. during the first quarter worth approximately $205,000. Finally, Natixis acquired a new position in shares of Oracle Corp. during the first quarter worth approximately $230,000. 58.24% of the stock is owned by institutional investors and hedge funds.
Shares of Oracle Corp. (NYSE:ORCL) traded up 1.00% during midday trading on Friday, reaching $38.41. 11,601,173 shares of the company traded hands. Oracle Corp. has a 12 month low of $33.13 and a 12 month high of $42.00. The stock has a market capitalization of $157.69 billion, a price-to-earnings ratio of 18.25 and a beta of 1.23. The company’s 50 day moving average is $39.72 and its 200-day moving average is $40.22.
Oracle Corp. (NYSE:ORCL) last released its quarterly earnings results on Thursday, September 15th. The enterprise software provider reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Oracle Corp. had a return on equity of 22.10% and a net margin of 24.16%. The firm had revenue of $8.60 billion for the quarter. During the same quarter in the prior year, the company earned $0.53 earnings per share. Oracle Corp.’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts forecast that Oracle Corp. will post $2.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 12th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, October 7th. This represents a $0.60 annualized dividend and a dividend yield of 1.56%. Oracle Corp.’s dividend payout ratio is currently 28.57%.
A number of brokerages recently commented on ORCL. Citigroup Inc. reaffirmed a “hold” rating on shares of Oracle Corp. in a report on Saturday, June 18th. DA Davidson reissued a “buy” rating and issued a $52.00 price objective on shares of Oracle Corp. in a research report on Saturday, September 17th. SunTrust Banks Inc. set a $48.00 price objective on shares of Oracle Corp. and gave the stock a “buy” rating in a research report on Saturday, September 17th. Rosenblatt Securities set a $48.00 price objective on shares of Oracle Corp. and gave the stock a “buy” rating in a research report on Saturday, September 17th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $45.00 price objective on shares of Oracle Corp. in a research report on Friday, June 17th. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $46.26.
In related news, EVP Dorian Daley sold 16,065 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $39.61, for a total value of $636,334.65. Following the sale, the executive vice president now directly owns 25,000 shares of the company’s stock, valued at $990,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John F. Fowler sold 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $41.17, for a total transaction of $20,585,000.00. Following the completion of the sale, the executive vice president now directly owns 119,645 shares in the company, valued at $4,925,784.65. The disclosure for this sale can be found here. Company insiders own 29.00% of the company’s stock.
Oracle Corp. 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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