First County Bank CT Trims Position in Oracle Co. (NYSE:ORCL)

First County Bank CT trimmed its position in Oracle Co. (NYSE:ORCL) by 8.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,453 shares of the enterprise software provider’s stock after selling 225 shares during the quarter. First County Bank CT’s holdings in Oracle were worth $418,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in shares of Oracle by 5.3% during the third quarter. Principal Financial Group Inc. now owns 2,416,362 shares of the enterprise software provider’s stock worth $411,748,000 after purchasing an additional 121,874 shares in the last quarter. Itau Unibanco Holding S.A. lifted its position in Oracle by 15.3% during the second quarter. Itau Unibanco Holding S.A. now owns 24,800 shares of the enterprise software provider’s stock valued at $3,502,000 after purchasing an additional 3,300 shares during the last quarter. Chase Investment Counsel Corp purchased a new position in Oracle in the 3rd quarter worth approximately $4,160,000. Oppenheimer Asset Management Inc. raised its position in shares of Oracle by 79.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 286,460 shares of the enterprise software provider’s stock valued at $48,813,000 after buying an additional 126,985 shares in the last quarter. Finally, Buckley Wealth Management LLC raised its position in shares of Oracle by 63.8% during the 3rd quarter. Buckley Wealth Management LLC now owns 7,370 shares of the enterprise software provider’s stock valued at $1,256,000 after buying an additional 2,870 shares in the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Wall Street Analyst Weigh In

ORCL has been the subject of a number of research reports. Bank of America upped their price objective on Oracle from $155.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Oppenheimer restated a “market perform” rating on shares of Oracle in a report on Tuesday, September 10th. JPMorgan Chase & Co. increased their target price on shares of Oracle from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Stifel Nicolaus upped their price target on shares of Oracle from $135.00 to $155.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Finally, Melius Research upgraded Oracle from a “hold” rating to a “buy” rating in a report on Monday, September 16th. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $169.52.

Insider Activity at Oracle

In other Oracle news, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the sale, the executive vice president now directly owns 42,889 shares in the company, valued at approximately $7,076,685. This represents a 12.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 42.20% of the stock is owned by company insiders.

Oracle Stock Up 1.1 %

Shares of ORCL opened at $192.81 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. The stock has a market capitalization of $534.29 billion, a price-to-earnings ratio of 49.69, a price-to-earnings-growth ratio of 3.48 and a beta of 1.02. Oracle Co. has a 1 year low of $99.26 and a 1 year high of $196.04. The business’s 50 day simple moving average is $175.02 and its 200-day simple moving average is $148.68.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. The business had revenue of $13.31 billion during the quarter, compared to analysts’ expectations of $13.23 billion. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the company posted $0.95 EPS. As a group, equities analysts expect that Oracle Co. will post 5 earnings per share for the current fiscal year.

Oracle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Thursday, October 10th. Oracle’s dividend payout ratio is currently 41.24%.

Oracle Company 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.