Oracle Corporation (NYSE:ORCL) Shares Sold by Arrow Financial Corp

Arrow Financial Corp cut its holdings in shares of Oracle Corporation (NYSE:ORCL) by 24.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,776 shares of the enterprise software provider’s stock after selling 11,287 shares during the quarter. Arrow Financial Corp’s holdings in Oracle were worth $5,002,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new position in shares of Oracle in the first quarter valued at approximately $27,000. Inlight Wealth Management LLC acquired a new stake in Oracle during the first quarter worth about $28,000. Iron Horse Wealth Management LLC boosted its position in shares of Oracle by 284.9% in the first quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock worth $29,000 after buying an additional 151 shares during the period. Sunbeam Capital Management LLC purchased a new position in Oracle in the fourth quarter valued at about $30,000. Finally, Hurley Capital LLC bought a new position in Oracle during the 4th quarter worth approximately $33,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Price Performance

Shares of NYSE:ORCL opened at $245.12 on Monday. The business has a 50 day moving average price of $196.21 and a 200 day moving average price of $168.97. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.07. Oracle Corporation has a twelve month low of $118.86 and a twelve month high of $251.60. The company has a market cap of $688.50 billion, a price-to-earnings ratio of 56.48, a PEG ratio of 3.66 and a beta of 1.39.

Oracle (NYSE:ORCL) last posted its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.64 by $0.06. The business had revenue of $15.90 billion during 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%. Oracle’s revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company earned $1.63 EPS. Research analysts predict that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 0.82%. Oracle’s payout ratio is 46.08%.

Insider Transactions at Oracle

In related news, Director Leon E. Panetta sold 17,500 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $151.24, for a total transaction of $2,646,700.00. Following the sale, the director owned 58,090 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. Also, Vice Chairman Jeffrey Henley sold 400,000 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $190.42, for a total value of $76,168,000.00. Following the completion of the sale, the insider owned 1,097,576 shares in the company, valued at $209,000,421.92. This represents a 26.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 448,669 shares of company stock valued at $85,555,309. Insiders own 42.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ORCL shares. Citigroup upgraded Oracle from a “hold” rating to a “strong-buy” rating in a report on Friday. Westpark Capital lifted their price objective on Oracle from $195.00 to $246.00 and gave the company a “buy” rating in a report on Thursday, June 12th. Roth Capital reaffirmed a “hold” rating on shares of Oracle in a report on Wednesday, June 18th. The Goldman Sachs Group restated a “neutral” rating and issued a $195.00 price objective (up previously from $145.00) on shares of Oracle in a research report on Friday, June 13th. Finally, UBS Group increased their price target on shares of Oracle from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday. Nine equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $218.29.

Oracle Profile

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.