Palisades Hudson Asset Management L.P. cut its stake in Oracle Co. (NYSE:ORCL) by 19.7% in the first quarter, HoldingsChannel.com reports. The fund owned 6,250 shares of the enterprise software provider’s stock after selling 1,530 shares during the period. Palisades Hudson Asset Management L.P.’s holdings in Oracle were worth $336,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently made changes to their positions in the business. Personal Capital Advisors Corp boosted its holdings in Oracle by 36.0% in the 4th quarter. Personal Capital Advisors Corp now owns 58,215 shares of the enterprise software provider’s stock valued at $2,628,000 after purchasing an additional 15,399 shares during the period. Highwater Wealth Management LLC bought a new stake in Oracle in the 4th quarter valued at about $151,000. Radnor Capital Management LLC boosted its holdings in Oracle by 8.0% in the 4th quarter. Radnor Capital Management LLC now owns 5,400 shares of the enterprise software provider’s stock valued at $244,000 after purchasing an additional 400 shares during the period. Palisade Asset Management LLC boosted its holdings in Oracle by 2.2% in the 4th quarter. Palisade Asset Management LLC now owns 291,398 shares of the enterprise software provider’s stock valued at $13,157,000 after purchasing an additional 6,203 shares during the period. Finally, Hudson Capital Management LLC bought a new stake in Oracle in the 4th quarter valued at about $204,000. 47.10% of the stock is owned by institutional investors.
A number of analysts have issued reports on the stock. Zacks Investment Research raised shares of Oracle from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Wednesday. DZ Bank reissued a “sell” rating on shares of Oracle in a report on Tuesday, March 19th. Exane BNP Paribas assumed coverage on shares of Oracle in a report on Friday, March 29th. They issued a “neutral” rating and a $50.00 price objective for the company. BNP Paribas assumed coverage on shares of Oracle in a report on Friday, March 29th. They issued a “neutral” rating and a $50.00 price objective for the company. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $53.00 price objective on shares of Oracle in a report on Wednesday, March 13th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. Oracle currently has an average rating of “Hold” and an average price target of $52.87.
Shares of Oracle stock opened at $54.50 on Friday. Oracle Co. has a 1-year low of $42.40 and a 1-year high of $55.53. The company has a quick ratio of 2.65, a current ratio of 2.65 and a debt-to-equity ratio of 2.13. The company has a market cap of $225.61 billion, a PE ratio of 19.33, a PEG ratio of 1.81 and a beta of 1.08.
Oracle (NYSE:ORCL) last issued its quarterly earnings results on Thursday, March 14th. The enterprise software provider reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.02. Oracle had a net margin of 27.14% and a return on equity of 34.03%. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.59 billion. During the same quarter in the prior year, the firm posted $0.83 EPS. The firm’s quarterly revenue was down .7% on a year-over-year basis. On average, research analysts forecast that Oracle Co. will post 3.08 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Thursday, April 11th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Wednesday, April 10th. This is an increase from Oracle’s previous quarterly dividend of $0.19. Oracle’s dividend payout ratio is 34.04%.
In related news, CEO Mark V. Hurd sold 1,200,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $53.83, for a total value of $64,596,000.00. Following the completion of the transaction, the chief executive officer now owns 1,664,227 shares of the company’s stock, valued at approximately $89,585,339.41. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Dorian Daley sold 125,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $52.84, for a total transaction of $6,605,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,473,750 shares of company stock valued at $133,883,350. 32.00% of the stock is currently owned by insiders.
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Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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