M&T Bank Corp Cuts Position in Oracle Co. (NYSE:ORCL)

M&T Bank Corp decreased its holdings in Oracle Co. (NYSE:ORCL) by 1.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 938,185 shares of the enterprise software provider’s stock after selling 15,981 shares during the period. M&T Bank Corp’s holdings in Oracle were worth $159,866,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Executive Wealth Management LLC grew its position in shares of Oracle by 4.5% during the third quarter. Executive Wealth Management LLC now owns 2,862 shares of the enterprise software provider’s stock worth $488,000 after buying an additional 124 shares in the last quarter. Abel Hall LLC grew its position in shares of Oracle by 3.7% during the third quarter. Abel Hall LLC now owns 2,188 shares of the enterprise software provider’s stock worth $373,000 after buying an additional 78 shares in the last quarter. Drucker Wealth 3.0 LLC grew its position in shares of Oracle by 3.8% during the third quarter. Drucker Wealth 3.0 LLC now owns 15,648 shares of the enterprise software provider’s stock worth $2,666,000 after buying an additional 571 shares in the last quarter. SGL Investment Advisors Inc. acquired a new stake in shares of Oracle during the third quarter worth approximately $276,000. Finally, EWA LLC grew its position in shares of Oracle by 2.5% during the third quarter. EWA LLC now owns 3,147 shares of the enterprise software provider’s stock worth $589,000 after buying an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Oracle Trading Down 0.6 %

Shares of NYSE ORCL opened at $190.54 on Tuesday. The stock has a market cap of $528.00 billion, a price-to-earnings ratio of 49.11, a PEG ratio of 3.49 and a beta of 1.03. The business has a 50 day simple moving average of $179.76 and a 200 day simple moving average of $154.67. Oracle Co. has a 52 week low of $99.26 and a 52 week high of $198.31. The company has a debt-to-equity ratio of 6.68, a quick ratio of 0.72 and a current ratio of 0.72.

Oracle (NYSE:ORCL) last posted its earnings results on Monday, December 9th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.01). Oracle had a return on equity of 171.38% and a net margin of 20.40%. The company had revenue of $14.06 billion during the quarter, compared to analyst estimates of $14.12 billion. During the same quarter last year, the firm posted $1.34 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, research analysts predict that Oracle Co. will post 5.06 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, January 23rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.84%. Oracle’s dividend payout ratio (DPR) is presently 41.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ORCL shares. Mizuho boosted their price target on shares of Oracle from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Melius raised shares of Oracle from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a report on Monday, September 16th. JPMorgan Chase & Co. boosted their price target on shares of Oracle from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Bank of America lifted their price objective on shares of Oracle from $155.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Finally, Stifel Nicolaus lifted their price objective on shares of Oracle from $135.00 to $155.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Eleven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Oracle has an average rating of “Moderate Buy” and an average target price of $171.52.

Insider Transactions at Oracle

In other news, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the completion of the transaction, the executive vice president now directly owns 42,889 shares in the company, valued at $7,076,685. The trade was a 12.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 42.20% of the company’s stock.

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.