Arbor Trust Wealth Advisors LLC reduced its holdings in Oracle Corporation (NYSE:ORCL – Free Report) by 3.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,070 shares of the enterprise software provider’s stock after selling 700 shares during the period. Oracle makes up 1.8% of Arbor Trust Wealth Advisors LLC’s portfolio, making the stock its 22nd largest holding. Arbor Trust Wealth Advisors LLC’s holdings in Oracle were worth $3,732,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of ORCL. Iron Horse Wealth Management LLC raised its position in Oracle by 284.9% in the 1st quarter. Iron Horse Wealth Management LLC now owns 204 shares of the enterprise software provider’s stock worth $29,000 after purchasing an additional 151 shares during the period. LGT Financial Advisors LLC purchased a new position in shares of Oracle during the second quarter valued at $33,000. Legend Financial Advisors Inc. purchased a new stake in Oracle during the second quarter worth $34,000. HighMark Wealth Management LLC bought a new stake in Oracle during the second quarter valued at about $38,000. Finally, Graybill Wealth Management LTD. purchased a new position in shares of Oracle in the 1st quarter worth approximately $39,000. Institutional investors own 42.44% of the company’s stock.
Oracle Stock Performance
Shares of Oracle stock opened at $239.15 on Friday. The firm has a market cap of $681.77 billion, a PE ratio of 55.36, a price-to-earnings-growth ratio of 2.96 and a beta of 1.51. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 3.33. Oracle Corporation has a 52 week low of $118.86 and a 52 week high of $345.72. The business’s fifty day simple moving average is $279.32 and its 200-day simple moving average is $230.60.
Oracle Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, October 23rd. Shareholders of record on Thursday, October 9th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 0.8%. Oracle’s payout ratio is presently 46.30%.
Analyst Upgrades and Downgrades
ORCL has been the topic of a number of research analyst reports. Rothschild & Co Redburn began coverage on shares of Oracle in a report on Thursday, September 25th. They set a “sell” rating and a $175.00 price objective on the stock. DA Davidson raised their price target on shares of Oracle from $220.00 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. Guggenheim lifted their price target on shares of Oracle from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, October 17th. JMP Securities reissued a “market outperform” rating and set a $342.00 target price on shares of Oracle in a report on Friday, October 17th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $320.00 price target on shares of Oracle in a research note on Monday, October 20th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $323.69.
Check Out Our Latest Analysis on ORCL
Insider Buying and Selling at Oracle
In related news, Director Jeffrey Berg sold 49,365 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $283.02, for a total transaction of $13,971,282.30. Following the completion of the transaction, the director directly owned 151,999 shares in the company, valued at $43,018,756.98. This trade represents a 24.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Stuart Levey sold 19,758 shares of Oracle stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 18,429 shares of the company’s stock, valued at approximately $5,528,700. This represents a 51.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 204,254 shares of company stock valued at $60,227,807. Corporate insiders own 40.90% of the company’s stock.
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.
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