Oracle Co. (ORCL) Stake Lowered by Mogy Joel R Investment Counsel Inc.
Mogy Joel R Investment Counsel Inc. trimmed its holdings in shares of Oracle Co. (NYSE:ORCL) by 0.5% during the second quarter, HoldingsChannel.com reports. The firm owned 232,127 shares of the enterprise software provider’s stock after selling 1,050 shares during the quarter. Oracle accounts for about 1.5% of Mogy Joel R Investment Counsel Inc.’s investment portfolio, making the stock its 23rd biggest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Oracle were worth $10,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ORCL. Centaurus Financial Inc. purchased a new stake in Oracle in the 1st quarter worth about $106,000. Rainier Group Investment Advisory LLC purchased a new stake in Oracle in the 1st quarter worth about $106,000. Financial Gravity Wealth Inc. purchased a new stake in Oracle in the 1st quarter worth about $130,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Oracle in the 2nd quarter worth about $126,000. Finally, Clearwater Capital Advisors LLC purchased a new stake in Oracle in the 1st quarter worth about $134,000. Institutional investors own 55.78% of the company’s stock.
In other news, EVP W Corey West sold 48,000 shares of the business’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 completion of the transaction, the executive vice president now owns 907 shares of the company’s stock, valued at $39,663.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $46.17, for a total value of $173,137.50. Following the transaction, the director now directly owns 27,969 shares of the company’s stock, valued at approximately $1,291,328.73. The disclosure for this sale can be found here. Insiders have sold 550,500 shares of company stock valued at $24,719,865 in the last three months. 29.00% of the stock is owned by insiders.
Oracle (NYSE:ORCL) last issued its quarterly earnings data on Tuesday, June 19th. The enterprise software provider reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.05. Oracle had a return on equity of 23.14% and a net margin of 9.61%. The company had revenue of $11.26 billion during the quarter, compared to analyst estimates of $11.17 billion. During the same quarter in the previous year, the firm earned $0.89 earnings per share. Oracle’s revenue was up 2.9% on a year-over-year basis. sell-side analysts expect that Oracle Co. will post 3.05 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 31st. Stockholders of record on Tuesday, July 17th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Monday, July 16th. Oracle’s payout ratio is 26.95%.
Several equities research analysts recently weighed in on ORCL shares. TheStreet raised Oracle from a “c+” rating to a “b” rating in a report on Tuesday, June 19th. Credit Suisse Group reissued a “buy” rating and issued a $60.00 price objective on shares of Oracle in a report on Thursday, June 7th. Nomura decreased their price objective on Oracle from $64.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, June 14th. KeyCorp reissued a “hold” rating on shares of Oracle in a report on Friday, June 15th. Finally, Stifel Nicolaus decreased their price objective on Oracle from $53.00 to $50.00 and set a “hold” rating for the company in a report on Wednesday, June 20th. Fifteen equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average 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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