Tower Bridge Advisors boosted its stake in Oracle Corporation (NYSE:ORCL) by 2.4% during the first quarter, Holdings Channel reports. The fund owned 260,875 shares of the enterprise software provider’s stock after buying an additional 6,152 shares during the period. Oracle Corporation comprises 1.4% of Tower Bridge Advisors’ portfolio, making the stock its 23rd largest position. Tower Bridge Advisors’ holdings in Oracle Corporation were worth $11,638,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the company. Reilly Financial Advisors LLC increased its stake in shares of Oracle Corporation by 8.7% in the first quarter. Reilly Financial Advisors LLC now owns 2,503 shares of the enterprise software provider’s stock valued at $112,000 after buying an additional 200 shares during the last quarter. Gradient Investments LLC increased its stake in shares of Oracle Corporation by 79.9% in the first quarter. Gradient Investments LLC now owns 2,548 shares of the enterprise software provider’s stock valued at $114,000 after buying an additional 1,132 shares during the last quarter. Orrstown Financial Services Inc. increased its stake in shares of Oracle Corporation by 88.9% in the first quarter. Orrstown Financial Services Inc. now owns 2,915 shares of the enterprise software provider’s stock valued at $130,000 after buying an additional 1,372 shares during the last quarter. Zions Bancorporation increased its stake in shares of Oracle Corporation by 0.9% in the fourth quarter. Zions Bancorporation now owns 3,934 shares of the enterprise software provider’s stock valued at $152,000 after buying an additional 36 shares during the last quarter. Finally, Pinnacle Bank purchased a new stake in shares of Oracle Corporation during the first quarter valued at about $160,000. 58.54% of the stock is owned by institutional investors and hedge funds.
Shares of Oracle Corporation (NYSE ORCL) opened at 50.45 on Wednesday. The stock has a market cap of $208.70 billion, a PE ratio of 22.83 and a beta of 1.07. The stock’s 50 day moving average is $46.11 and its 200-day moving average is $43.14. Oracle Corporation has a 1-year low of $37.62 and a 1-year high of $51.85.
Oracle Corporation (NYSE:ORCL) last announced its quarterly earnings data on Wednesday, June 21st. The enterprise software provider reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.11. Oracle Corporation had a net margin of 24.74% and a return on equity of 20.90%. The firm had revenue of $10.94 billion during the quarter, compared to analysts’ expectations of $10.45 billion. During the same quarter last year, the business earned $0.81 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts predict that Oracle Corporation will post $2.96 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 2nd. Investors of record on Wednesday, July 19th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Monday, July 17th. Oracle Corporation’s dividend payout ratio (DPR) is 34.55%.
Several analysts have issued reports on ORCL shares. Jefferies Group LLC reissued a “buy” rating and issued a $52.00 price objective on shares of Oracle Corporation in a research note on Friday, April 7th. Rosenblatt Securities raised their price objective on shares of Oracle Corporation from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, April 4th. Benchmark Co. started coverage on shares of Oracle Corporation in a research note on Thursday, April 27th. They issued a “buy” rating and a $55.00 price objective for the company. Zacks Investment Research raised shares of Oracle Corporation from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Tuesday, May 16th. Finally, Vetr raised shares of Oracle Corporation from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirty-one have issued a buy rating to the stock. Oracle Corporation has an average rating of “Buy” and a consensus price target of $50.52.
In other Oracle Corporation news, Director Bruce R. Chizen sold 206,250 shares of Oracle Corporation stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $49.75, for a total transaction of $10,260,937.50. Following the completion of the transaction, the director now owns 63,985 shares in the company, valued at $3,183,253.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle Corporation stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $44.57, for a total transaction of $167,137.50. Following the transaction, the director now owns 18,125 shares of the company’s stock, valued at approximately $807,831.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,565,101 shares of company stock valued at $76,099,409. 29.00% of the stock is currently owned by company insiders.
Oracle Corporation Company Profile
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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