Oracle Co. (NYSE:ORCL) Shares Sold by Patton Fund Management Inc.

Patton Fund Management Inc. lowered its stake in shares of Oracle Co. (NYSE:ORCL) by 7.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,378 shares of the enterprise software provider’s stock after selling 2,850 shares during the period. Oracle accounts for approximately 1.2% of Patton Fund Management Inc.’s portfolio, making the stock its 13th biggest holding. Patton Fund Management Inc.’s holdings in Oracle were worth $4,094,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clear Investment Research LLC acquired a new stake in shares of Oracle during the fourth quarter worth $25,000. NewSquare Capital LLC grew its stake in Oracle by 843.3% during the first quarter. NewSquare Capital LLC now owns 283 shares of the enterprise software provider’s stock worth $26,000 after buying an additional 253 shares during the period. Steward Financial Group LLC acquired a new stake in shares of Oracle in the fourth quarter worth $27,000. Quintet Private Bank Europe S.A. purchased a new position in shares of Oracle in the 1st quarter valued at $30,000. Finally, Altshuler Shaham Ltd acquired a new position in shares of Oracle during the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Insider Transactions at Oracle

In other Oracle news, Director Michael J. Boskin sold 90,000 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $118.83, for a total transaction of $10,694,700.00. Following the completion of the sale, the director now owns 87,473 shares of the company’s stock, valued at $10,394,416.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Michael J. Boskin sold 90,000 shares of Oracle stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $118.83, for a total value of $10,694,700.00. Following the transaction, the director now directly owns 87,473 shares in the company, valued at $10,394,416.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Lawrence Joseph Ellison sold 1,750,000 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $120.95, for a total value of $211,662,500.00. Following the transaction, the chairman now owns 1,145,732,353 shares of the company’s stock, valued at $138,576,328,095.35. The disclosure for this sale can be found here. Insiders sold 1,845,000 shares of company stock valued at $222,934,550 in the last three months. Corporate insiders own 43.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. KeyCorp increased their price target on Oracle from $105.00 to $120.00 in a report on Friday, June 9th. Stifel Nicolaus increased their target price on Oracle from $84.00 to $120.00 in a research note on Tuesday, June 13th. HSBC began coverage on Oracle in a research report on Friday. They set a “buy” rating and a $144.00 price target on the stock. Citigroup increased their price objective on shares of Oracle from $121.00 to $138.00 and gave the company a “neutral” rating in a research report on Monday, September 11th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $130.00 price target on shares of Oracle in a research note on Tuesday, September 12th. Twelve research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.06.

Oracle Stock Down 0.4 %

Shares of Oracle stock traded down $0.45 during midday trading on Tuesday, hitting $111.76. The company’s stock had a trading volume of 1,663,851 shares, compared to its average volume of 9,115,545. The firm has a market capitalization of $306.20 billion, a P/E ratio of 33.40, a PEG ratio of 2.98 and a beta of 1.00. Oracle Co. has a 1-year low of $60.78 and a 1-year high of $127.54. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 29.72. The stock has a 50-day simple moving average of $117.28 and a 200-day simple moving average of $106.40.

Oracle (NYSE:ORCL) last issued its earnings results on Monday, September 11th. The enterprise software provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. The company had revenue of $12.45 billion for the quarter, compared to the consensus estimate of $12.48 billion. Oracle had a negative return on equity of 470.73% and a net margin of 18.40%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. As a group, sell-side analysts expect that Oracle Co. will post 4.49 earnings per share for the current year.

Oracle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 26th. Stockholders of record on Thursday, October 12th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Wednesday, October 11th. Oracle’s dividend payout ratio (DPR) is presently 47.62%.

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.