Oak Associates Ltd. OH Cuts Stake in Oracle Co. (NYSE:ORCL)

Oak Associates Ltd. OH cut its stake in shares of Oracle Co. (NYSE:ORCL) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 281,014 shares of the enterprise software provider’s stock after selling 1,512 shares during the quarter. Oracle comprises approximately 2.6% of Oak Associates Ltd. OH’s portfolio, making the stock its 12th biggest position. Oak Associates Ltd. OH’s holdings in Oracle were worth $39,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Diversify Wealth Management LLC bought a new position in shares of Oracle during the second quarter valued at $3,946,000. Williams Financial LLC purchased a new stake in shares of Oracle during the 2nd quarter valued at about $2,647,000. Alta Advisers Ltd grew its stake in shares of Oracle by 4.8% in the second quarter. Alta Advisers Ltd now owns 4,400 shares of the enterprise software provider’s stock worth $621,000 after acquiring an additional 200 shares during the period. Prosperity Consulting Group LLC raised its holdings in shares of Oracle by 2.9% during the second quarter. Prosperity Consulting Group LLC now owns 14,036 shares of the enterprise software provider’s stock valued at $1,982,000 after purchasing an additional 397 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Oracle by 12.1% during the second quarter. Envestnet Asset Management Inc. now owns 3,591,830 shares of the enterprise software provider’s stock valued at $507,166,000 after purchasing an additional 386,279 shares during the period. Institutional investors own 42.44% of the company’s stock.

Oracle Stock Performance

NYSE ORCL opened at $162.03 on Friday. The company has a debt-to-equity ratio of 6.68, a current ratio of 0.72 and a quick ratio of 0.72. Oracle Co. has a 1-year low of $99.26 and a 1-year high of $173.93. The business has a 50 day simple moving average of $139.85 and a two-hundred day simple moving average of $130.03. The stock has a market capitalization of $446.53 billion, a PE ratio of 43.67, a P/E/G ratio of 2.89 and a beta of 1.01.

Oracle (NYSE:ORCL) last announced its quarterly earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.06. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The company had revenue of $13.31 billion for the quarter, compared to analysts’ expectations of $13.23 billion. During the same quarter in the previous year, the business posted $0.95 earnings per share. Oracle’s quarterly revenue was up 6.9% on a year-over-year basis. On average, research analysts predict that Oracle Co. will post 5.03 EPS for the current fiscal year.

Oracle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, October 10th. Oracle’s payout ratio is 43.13%.

Insider Buying and Selling

In other Oracle news, Director Leon E. Panetta sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $137.89, for a total transaction of $2,068,350.00. Following the sale, the director now directly owns 58,090 shares in the company, valued at $8,010,030.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Edward Screven sold 37,221 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $140.19, for a total transaction of $5,218,011.99. Following the transaction, the insider now directly owns 2,626,764 shares in the company, valued at approximately $368,246,045.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leon E. Panetta sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $137.89, for a total transaction of $2,068,350.00. Following the completion of the sale, the director now directly owns 58,090 shares of the company’s stock, valued at approximately $8,010,030.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,862,500 shares of company stock worth $266,776,624. Corporate insiders own 42.80% of the company’s stock.

Analyst Ratings Changes

ORCL has been the subject of a number of research reports. Argus boosted their target price on shares of Oracle from $145.00 to $159.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Barclays raised their target price on Oracle from $160.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Guggenheim increased their price objective on shares of Oracle from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. raised their price objective on shares of Oracle from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Finally, Stifel Nicolaus upped their target price on shares of Oracle from $135.00 to $155.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Oracle has an average rating of “Moderate Buy” and a consensus target price of $161.13.

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.