Everett Harris & Co. CA Purchases 600 Shares of Oracle Co. (NYSE:ORCL)
Everett Harris & Co. CA grew its position in Oracle Co. (NYSE:ORCL) by 12.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 5,545 shares of the enterprise software provider’s stock after purchasing an additional 600 shares during the quarter. Everett Harris & Co. CA’s holdings in Oracle were worth $306,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Modus Advisors LLC acquired a new stake in Oracle during the 2nd quarter worth $25,000. Balentine LLC acquired a new stake in shares of Oracle during the first quarter worth about $31,000. Ellevest Inc. lifted its holdings in shares of Oracle by 38.4% during the 1st quarter. Ellevest Inc. now owns 797 shares of the enterprise software provider’s stock valued at $39,000 after purchasing an additional 221 shares in the last quarter. MBE Wealth Management LLC acquired a new position in shares of Oracle in the 1st quarter valued at approximately $39,000. Finally, Solstein Capital LLC increased its stake in Oracle by 57.4% during the 1st quarter. Solstein Capital LLC now owns 987 shares of the enterprise software provider’s stock worth $48,000 after purchasing an additional 360 shares in the last quarter. 48.10% of the stock is currently owned by institutional investors.
In other news, CEO Safra Catz sold 1,000,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $51.73, for a total transaction of $51,730,000.00. Following the completion of the sale, the chief executive officer now owns 2,368,592 shares in the company, valued at approximately $122,527,264.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Lawrence Joseph Ellison sold 1,400,000 shares of Oracle stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $55.60, for a total transaction of $77,840,000.00. Following the sale, the chairman now directly owns 1,140,132,353 shares of the company’s stock, valued at approximately $63,391,358,826.80. The disclosure for this sale can be found here. Insiders have sold a total of 7,300,000 shares of company stock valued at $396,376,000 over the last quarter. 36.60% of the stock is currently owned by corporate insiders.
Oracle (NYSE:ORCL) last issued its earnings results on Tuesday, June 16th. The enterprise software provider reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.12. The business had revenue of $10.44 billion during the quarter, compared to the consensus estimate of $10.72 billion. Oracle had a net margin of 25.94% and a return on equity of 72.76%. Oracle’s revenue was down 6.3% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. Analysts expect that Oracle Co. will post 3.59 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Stockholders of record on Wednesday, July 15th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, July 14th. This represents a $0.96 annualized dividend and a dividend yield of 1.73%. Oracle’s dividend payout ratio is currently 27.75%.
A number of research analysts have weighed in on ORCL shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Oracle in a research note on Thursday, July 9th. Morgan Stanley upped their target price on shares of Oracle from $53.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 17th. Zacks Investment Research upgraded Oracle from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Tuesday, April 21st. JPMorgan Chase & Co. boosted their price target on Oracle from $55.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Finally, Royal Bank of Canada reiterated a “neutral” rating and set a $51.00 price objective on shares of Oracle in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $55.34.
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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