Oracle Corporation (ORCL) Position Lowered by Westpac Banking Corp

Westpac Banking Corp lowered its position in shares of Oracle Corporation (NYSE:ORCL) by 8.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,871,559 shares of the enterprise software provider’s stock after selling 822,996 shares during the period. Oracle Corporation comprises 4.4% of Westpac Banking Corp’s investment portfolio, making the stock its largest position. Westpac Banking Corp’s holdings in Oracle Corporation were worth $428,004,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ORCL. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in shares of Oracle Corporation by 1,150.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,500 shares of the enterprise software provider’s stock valued at $112,000 after buying an additional 2,300 shares during the period. Reilly Financial Advisors LLC raised its position in shares of Oracle Corporation by 8.7% in the first quarter. Reilly Financial Advisors LLC now owns 2,503 shares of the enterprise software provider’s stock valued at $112,000 after buying an additional 200 shares during the period. Gradient Investments LLC raised its position in shares of Oracle Corporation by 79.9% in the first quarter. Gradient Investments LLC now owns 2,548 shares of the enterprise software provider’s stock valued at $114,000 after buying an additional 1,132 shares during the period. TrimTabs Asset Management LLC raised its position in shares of Oracle Corporation by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock valued at $120,000 after buying an additional 1,264 shares during the period. Finally, Heritage Trust Co bought a new position in shares of Oracle Corporation during the first quarter valued at about $130,000. Hedge funds and other institutional investors own 58.77% of the company’s stock.

Oracle Corporation (NYSE:ORCL) opened at 49.64 on Tuesday. The company’s 50-day moving average is $49.35 and its 200-day moving average is $44.95. Oracle Corporation has a 12 month low of $37.62 and a 12 month high of $51.85. The company has a market cap of $205.34 billion, a P/E ratio of 22.46 and a beta of 1.06.

Oracle Corporation (NYSE:ORCL) last released its earnings results on Wednesday, June 21st. The enterprise software provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.11. The company had revenue of $10.94 billion for the quarter, compared to the consensus estimate of $10.45 billion. Oracle Corporation had a net margin of 24.74% and a return on equity of 20.90%. Oracle Corporation’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 EPS. On average, equities research analysts expect that Oracle Corporation will post $2.96 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Wednesday, July 19th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.53%. The ex-dividend date was Monday, July 17th. Oracle Corporation’s dividend payout ratio is presently 34.55%.

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ORCL has been the subject of several research reports. Wedbush reiterated a “neutral” rating and issued a $43.00 target price on shares of Oracle Corporation in a research report on Thursday, April 13th. Benchmark Co. initiated coverage on shares of Oracle Corporation in a research report on Thursday, April 27th. They issued a “buy” rating and a $55.00 target price for the company. Vetr lowered shares of Oracle Corporation from a “buy” rating to a “hold” rating and set a $47.00 target price for the company. in a research report on Thursday, May 4th. Societe Generale lowered shares of Oracle Corporation from a “buy” rating to a “hold” rating and cut their target price for the stock from $51.00 to $50.00 in a research report on Thursday, May 11th. Finally, Zacks Investment Research upgraded shares of Oracle Corporation from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Tuesday, May 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirty-one have issued a buy rating to the company. Oracle Corporation currently has an average rating of “Buy” and a consensus target price of $50.70.

In other Oracle Corporation news, insider Thomas Kurian sold 750,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $50.46, for a total transaction of $37,845,000.00. Following the sale, the insider now owns 783,533 shares of the company’s stock, valued at approximately $39,537,075.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark V. Hurd sold 350,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $49.76, for a total transaction of $17,416,000.00. Following the sale, the chief executive officer now directly owns 553,891 shares in the company, valued at approximately $27,561,616.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,817,500 shares of company stock worth $91,547,388. 29.00% of the stock is owned by insiders.

About Oracle Corporation

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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Institutional Ownership by Quarter for Oracle Corporation (NYSE:ORCL)

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