First City Capital Management Inc. Decreases Stake in Oracle Co. (NYSE:ORCL)

First City Capital Management Inc. reduced its position in Oracle Co. (NYSE:ORCL) by 4.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,078 shares of the enterprise software provider’s stock after selling 100 shares during the period. First City Capital Management Inc.’s holdings in Oracle were worth $291,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sunbeam Capital Management LLC bought a new position in Oracle in the fourth quarter worth about $30,000. Hurley Capital LLC bought a new position in Oracle in the fourth quarter worth about $33,000. Synergy Investment Management LLC bought a new position in Oracle in the fourth quarter worth about $34,000. TFC Financial Management Inc. lifted its holdings in Oracle by 129.0% in the fourth quarter. TFC Financial Management Inc. now owns 213 shares of the enterprise software provider’s stock worth $35,000 after acquiring an additional 120 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Oracle in the fourth quarter valued at approximately $36,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Oracle Stock Performance

ORCL opened at $174.22 on Friday. The firm has a market cap of $487.29 billion, a PE ratio of 42.60, a P/E/G ratio of 3.46 and a beta of 1.32. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. The business has a fifty day simple moving average of $147.20 and a 200-day simple moving average of $160.67. Oracle Co. has a fifty-two week low of $118.86 and a fifty-two week high of $198.31.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Monday, March 10th. The enterprise software provider reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.02). The company had revenue of $14.13 billion for the quarter, compared to the consensus estimate of $14.40 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 earnings per share. As a group, equities analysts predict that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 10th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.15%. This is a positive change from Oracle’s previous quarterly dividend of $0.40. Oracle’s dividend payout ratio is presently 46.95%.

Insider Activity

In related news, Director Leon E. Panetta sold 17,500 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $151.24, for a total transaction of $2,646,700.00. Following the completion of the sale, the director now directly owns 58,090 shares in the company, valued at approximately $8,785,531.60. This trade represents a 23.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Naomi O. Seligman sold 2,866 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $149.53, for a total value of $428,552.98. Following the sale, the director now owns 31,764 shares of the company’s stock, valued at approximately $4,749,670.92. This represents a 8.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,366 shares of company stock worth $4,015,723 over the last quarter. Corporate insiders own 42.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ORCL shares. Citigroup dropped their price target on shares of Oracle from $194.00 to $160.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. Jefferies Financial Group dropped their price target on shares of Oracle from $220.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Westpark Capital started coverage on shares of Oracle in a research note on Tuesday, April 1st. They issued a “buy” rating and a $195.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on shares of Oracle from $140.00 to $135.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Finally, Wall Street Zen lowered shares of Oracle from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Fourteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Oracle currently has an average rating of “Moderate Buy” and a consensus target price of $174.42.

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.