Grove Bank & Trust Has $7.99 Million Stake in Oracle Corporation $ORCL

Grove Bank & Trust lowered its position in Oracle Corporation (NYSE:ORCL) by 15.8% in the third quarter, HoldingsChannel.com reports. The fund owned 28,411 shares of the enterprise software provider’s stock after selling 5,314 shares during the quarter. Grove Bank & Trust’s holdings in Oracle were worth $7,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of ORCL. Norges Bank acquired a new stake in Oracle in the 2nd quarter valued at about $4,275,378,000. Vanguard Group Inc. raised its stake in Oracle by 2.1% in the second quarter. Vanguard Group Inc. now owns 164,278,874 shares of the enterprise software provider’s stock valued at $35,916,290,000 after buying an additional 3,353,461 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in Oracle in the second quarter valued at approximately $731,512,000. Invesco Ltd. lifted its position in shares of Oracle by 42.1% in the second quarter. Invesco Ltd. now owns 8,839,166 shares of the enterprise software provider’s stock valued at $1,932,507,000 after buying an additional 2,619,722 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Oracle by 840.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,119,473 shares of the enterprise software provider’s stock worth $463,380,000 after acquiring an additional 1,894,157 shares during the period. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ORCL has been the topic of a number of research analyst reports. The Goldman Sachs Group dropped their price target on Oracle from $320.00 to $220.00 and set a “neutral” rating on the stock in a research note on Friday. Stifel Nicolaus decreased their price objective on shares of Oracle from $350.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Weiss Ratings raised shares of Oracle from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Cowen reaffirmed a “buy” rating on shares of Oracle in a report on Thursday, December 4th. Finally, Guggenheim reiterated a “buy” rating and issued a $400.00 price target on shares of Oracle in a research note on Thursday, December 11th. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Oracle presently has an average rating of “Moderate Buy” and an average target price of $302.92.

Oracle Price Performance

NYSE:ORCL opened at $188.52 on Wednesday. Oracle Corporation has a 52 week low of $118.86 and a 52 week high of $345.72. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.91 and a current ratio of 0.91. The firm’s 50-day simple moving average is $241.52 and its 200 day simple moving average is $242.25. The firm has a market cap of $541.65 billion, a price-to-earnings ratio of 35.44, a P/E/G ratio of 1.69 and a beta of 1.66.

Oracle (NYSE:ORCL) last announced its earnings results on Wednesday, December 10th. The enterprise software provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.62. Oracle had a net margin of 25.28% and a return on equity of 70.60%. The firm had revenue of $16.06 billion for the quarter, compared to analyst estimates of $16.19 billion. During the same quarter in the prior year, the business posted $1.47 EPS. The business’s revenue was up 14.2% compared to the same quarter last year. As a group, sell-side analysts predict that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, January 9th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, January 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.1%. Oracle’s dividend payout ratio is currently 37.59%.

Insider Activity

In other Oracle news, insider Michael D. Sicilia sold 33,845 shares of Oracle stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $321.16, for a total value of $10,869,660.20. Following the completion of the transaction, the insider directly owned 132,656 shares of the company’s stock, valued at $42,603,800.96. The trade was a 20.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stuart Levey sold 19,758 shares of the company’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $300.00, for a total value of $5,927,400.00. Following the sale, the executive vice president owned 18,429 shares of the company’s stock, valued at approximately $5,528,700. The trade was a 51.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 155,190 shares of company stock worth $45,279,001. 40.90% of the stock is currently owned by insiders.

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.