Connecticut Wealth Management LLC Sells 152 Shares of Oracle Co. (NYSE:ORCL)

Connecticut Wealth Management LLC cut its stake in shares of Oracle Co. (NYSE:ORCL) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,708 shares of the enterprise software provider’s stock after selling 152 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Oracle were worth $1,951,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of Oracle during the 4th quarter valued at $25,000. Hurley Capital LLC bought a new stake in Oracle during the fourth quarter valued at about $33,000. Synergy Investment Management LLC bought a new stake in Oracle during the fourth quarter valued at about $34,000. TFC Financial Management Inc. boosted its stake in shares of Oracle by 129.0% in the fourth quarter. TFC Financial Management Inc. now owns 213 shares of the enterprise software provider’s stock worth $35,000 after acquiring an additional 120 shares during the period. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Oracle during the fourth quarter worth about $36,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Leon E. Panetta sold 17,500 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $151.24, for a total value of $2,646,700.00. Following the completion of the sale, the director now directly owns 58,090 shares of the company’s stock, valued at $8,785,531.60. This represents a 23.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Naomi O. Seligman sold 2,000 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $145.81, for a total transaction of $291,620.00. Following the transaction, the director now owns 34,630 shares in the company, valued at approximately $5,049,400.30. The trade was a 5.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,366 shares of company stock valued at $4,015,723. 42.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on ORCL. Citigroup lowered their price target on Oracle from $194.00 to $160.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Cantor Fitzgerald lowered their target price on shares of Oracle from $214.00 to $175.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Stephens began coverage on shares of Oracle in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $167.00 target price for the company. JPMorgan Chase & Co. reduced their price target on shares of Oracle from $140.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Finally, Morgan Stanley decreased their price target on shares of Oracle from $170.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Fourteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Oracle has a consensus rating of “Moderate Buy” and a consensus target price of $174.42.

Oracle Price Performance

ORCL stock opened at $157.28 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 5.65. Oracle Co. has a 12 month low of $114.55 and a 12 month high of $198.31. The stock has a market cap of $439.92 billion, a PE ratio of 38.46, a P/E/G ratio of 3.46 and a beta of 1.27. The company has a 50-day moving average price of $143.49 and a 200 day moving average price of $162.32.

Oracle (NYSE:ORCL) last released its earnings results on Monday, March 10th. The enterprise software provider reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.02). Oracle had a net margin of 21.16% and a return on equity of 133.25%. The business had revenue of $14.13 billion for the quarter, compared to the consensus estimate of $14.40 billion. During the same period in the prior year, the company posted $1.41 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that Oracle Co. will post 5 earnings per share for the current year.

Oracle Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 10th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.27%. This is an increase from Oracle’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. Oracle’s dividend payout ratio (DPR) is 46.95%.

About Oracle

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.