Allen Investment Management LLC cut its position in Oracle Corporation (NYSE:ORCL) by 16.5% during the first quarter, Holdings Channel reports. The firm owned 433,031 shares of the enterprise software provider’s stock after selling 85,585 shares during the period. Oracle Corporation comprises approximately 1.2% of Allen Investment Management LLC’s investment portfolio, making the stock its 23rd largest position. Allen Investment Management LLC’s holdings in Oracle Corporation were worth $19,318,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. Boston Partners raised its stake in Oracle Corporation by 20.1% in the first quarter. Boston Partners now owns 18,234,179 shares of the enterprise software provider’s stock worth $813,427,000 after buying an additional 3,054,765 shares during the period. Swiss National Bank raised its stake in Oracle Corporation by 26.2% in the first quarter. Swiss National Bank now owns 11,137,928 shares of the enterprise software provider’s stock worth $496,863,000 after buying an additional 2,309,400 shares during the period. Bank of New York Mellon Corp raised its stake in Oracle Corporation by 2.9% in the first quarter. Bank of New York Mellon Corp now owns 53,750,832 shares of the enterprise software provider’s stock worth $2,397,824,000 after buying an additional 1,521,879 shares during the period. Karp Capital Management Corp acquired a new stake in Oracle Corporation during the first quarter worth $66,017,000. Finally, First Eagle Investment Management LLC raised its stake in Oracle Corporation by 3.7% in the first quarter. First Eagle Investment Management LLC now owns 41,235,175 shares of the enterprise software provider’s stock worth $1,839,501,000 after buying an additional 1,467,144 shares during the period. 58.77% of the stock is owned by institutional investors.

Shares of Oracle Corporation (NYSE:ORCL) traded down 0.65% on Thursday, reaching $48.74. The company had a trading volume of 1,560,530 shares. Oracle Corporation has a 12 month low of $37.62 and a 12 month high of $51.85. The stock has a 50 day moving average price of $50.11 and a 200-day moving average price of $45.32. The company has a market capitalization of $201.62 billion, a price-to-earnings ratio of 22.05 and a beta of 1.06.

Oracle Corporation (NYSE:ORCL) last announced its quarterly earnings results on Wednesday, June 21st. The enterprise software provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.11. Oracle Corporation had a return on equity of 20.90% and a net margin of 24.74%. The business had revenue of $10.94 billion for the quarter, compared to the consensus estimate of $10.45 billion. During the same quarter last year, the business posted $0.81 EPS. The business’s revenue was up 3.3% on a year-over-year basis. Analysts forecast that Oracle Corporation will post $2.96 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Investors of record on Wednesday, July 19th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Monday, July 17th. Oracle Corporation’s dividend payout ratio is currently 34.55%.

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Several analysts have commented on ORCL shares. Bank of America Corporation decreased their price target on shares of Oracle Corporation from $62.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, June 30th. Zacks Investment Research raised shares of Oracle Corporation from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Tuesday, May 16th. Societe Generale lowered shares of Oracle Corporation from a “buy” rating to a “hold” rating and decreased their price target for the company from $51.00 to $50.00 in a research report on Thursday, May 11th. Argus raised shares of Oracle Corporation from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Friday, June 23rd. Finally, KeyCorp raised shares of Oracle Corporation from a “sector weight” rating to an “overweight” rating and set a $61.00 price target for the company in a research report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirty have assigned a buy rating to the company’s stock. Oracle Corporation has an average rating of “Buy” and an average price target of $50.70.

In related news, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $44.57, for a total value of $167,137.50. Following the sale, the director now directly owns 18,125 shares in the company, valued at approximately $807,831.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Kurian sold 750,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $50.46, for a total value of $37,845,000.00. Following the completion of the sale, the insider now owns 783,533 shares in the company, valued at $39,537,075.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,817,500 shares of company stock worth $91,547,388. 29.00% of the stock is owned by insiders.

About Oracle Corporation

Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.

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Institutional Ownership by Quarter for Oracle Corporation (NYSE:ORCL)

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