Oracle Corporation (NYSE:ORCL) Shares Sold by Abound Financial LLC

Abound Financial LLC lowered its stake in Oracle Corporation (NYSE:ORCL) by 11.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,550 shares of the enterprise software provider’s stock after selling 341 shares during the quarter. Abound Financial LLC’s holdings in Oracle were worth $357,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in ORCL. Greenwood Gearhart Inc. boosted its holdings in shares of Oracle by 1.2% in the fourth quarter. Greenwood Gearhart Inc. now owns 5,731 shares of the enterprise software provider’s stock valued at $955,000 after acquiring an additional 66 shares in the last quarter. WorthPointe LLC grew its position in Oracle by 4.0% during the fourth quarter. WorthPointe LLC now owns 1,734 shares of the enterprise software provider’s stock valued at $289,000 after purchasing an additional 67 shares in the last quarter. Stage Harbor Financial LLC raised its holdings in shares of Oracle by 5.0% during the fourth quarter. Stage Harbor Financial LLC now owns 1,433 shares of the enterprise software provider’s stock worth $239,000 after acquiring an additional 68 shares in the last quarter. J. L. Bainbridge & Co. Inc. grew its stake in shares of Oracle by 5.5% in the 4th quarter. J. L. Bainbridge & Co. Inc. now owns 1,354 shares of the enterprise software provider’s stock valued at $226,000 after buying an additional 70 shares in the last quarter. Finally, Prestige Wealth Management Group LLC raised its holdings in shares of Oracle by 0.6% during the 4th quarter. Prestige Wealth Management Group LLC now owns 11,288 shares of the enterprise software provider’s stock valued at $1,881,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 42.44% of the company’s stock.

Insider Activity

In other news, Vice Chairman Jeffrey Henley sold 400,000 shares of the firm’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $190.42, for a total transaction of $76,168,000.00. Following the sale, the insider owned 1,097,576 shares of the company’s stock, valued at $209,000,421.92. This trade represents a 26.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Leon E. Panetta sold 17,500 shares of Oracle 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 transaction, the director owned 58,090 shares in the company, valued at $8,785,531.60. This trade represents a 23.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 440,366 shares of company stock worth $83,103,603 over the last quarter. Corporate insiders own 42.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Oracle from $145.00 to $195.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 12th. Barclays restated an “overweight” rating and issued a $221.00 price objective (up previously from $202.00) on shares of Oracle in a research note on Friday, June 13th. Mizuho reduced their price target on shares of Oracle from $210.00 to $180.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $240.00 price target (up from $200.00) on shares of Oracle in a research report on Thursday, June 12th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Oracle in a research report on Wednesday, June 18th. Ten analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.15.

Oracle Stock Performance

Oracle stock opened at $237.39 on Monday. The company has a market cap of $666.79 billion, a PE ratio of 54.70, a PEG ratio of 3.55 and a beta of 1.39. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. Oracle Corporation has a 1 year low of $118.86 and a 1 year high of $237.99. The company’s 50-day moving average is $178.14 and its two-hundred day moving average is $164.22.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.06. The company had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.63 EPS. Equities analysts anticipate that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.84%. Oracle’s dividend payout ratio is 46.08%.

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.