Oracle Co. (ORCL) Position Boosted by Cypress Capital Management LLC
Cypress Capital Management LLC increased its position in shares of Oracle Co. (NYSE:ORCL) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 263,493 shares of the enterprise software provider’s stock after purchasing an additional 2,525 shares during the period. Oracle accounts for 2.2% of Cypress Capital Management LLC’s investment portfolio, making the stock its 13th largest holding. Cypress Capital Management LLC’s holdings in Oracle were worth $11,610,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of ORCL. Centaurus Financial Inc. acquired a new position in shares of Oracle in the first quarter valued at $106,000. Rainier Group Investment Advisory LLC acquired a new position in shares of Oracle in the first quarter valued at $106,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Oracle in the second quarter valued at $126,000. Financial Gravity Wealth Inc. acquired a new position in shares of Oracle in the first quarter valued at $130,000. Finally, Clearwater Capital Advisors LLC acquired a new position in shares of Oracle in the first quarter valued at $134,000. Institutional investors and hedge funds own 55.78% of the company’s stock.
In related news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $46.17, for a total transaction of $173,137.50. Following the completion of the sale, the director now owns 27,969 shares of the company’s stock, valued at $1,291,328.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP W Corey West sold 48,000 shares of the company’s stock in a transaction dated Monday, June 25th. The stock was sold at an average price of $43.73, for a total transaction of $2,099,040.00. Following the sale, the executive vice president now directly owns 907 shares of the company’s stock, valued at approximately $39,663.11. The disclosure for this sale can be found here. In the last three months, insiders sold 550,500 shares of company stock valued at $24,719,865. 29.00% of the stock is currently owned by company insiders.
Oracle (NYSE:ORCL) last announced its earnings results on Tuesday, June 19th. The enterprise software provider reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.05. The company had revenue of $11.26 billion during the quarter, compared to analysts’ expectations of $11.17 billion. Oracle had a net margin of 9.61% and a return on equity of 23.14%. Oracle’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.89 earnings per share. analysts anticipate that Oracle Co. will post 3.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 31st. Stockholders of record on Tuesday, July 17th were given a $0.19 dividend. The ex-dividend date was Monday, July 16th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.57%. Oracle’s payout ratio is presently 26.95%.
ORCL has been the topic of several research reports. ValuEngine downgraded shares of Oracle from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Zacks Investment Research downgraded shares of Oracle from a “hold” rating to a “sell” rating in a report on Tuesday, May 22nd. Credit Suisse Group reiterated a “buy” rating and issued a $60.00 price objective on shares of Oracle in a report on Thursday, June 7th. UBS Group reiterated a “neutral” rating and issued a $53.00 price objective on shares of Oracle in a report on Tuesday, June 12th. Finally, JPMorgan Chase & Co. downgraded shares of Oracle from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $55.00 to $53.00 in a report on Thursday, June 14th. Fifteen analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.56.
Oracle Company Profile
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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