Oracle Corporation (ORCL) Position Cut by Brookstone Capital Management
Brookstone Capital Management decreased its position in Oracle Corporation (NYSE:ORCL) by 7.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,047 shares of the enterprise software provider’s stock after selling 1,008 shares during the period. Brookstone Capital Management’s holdings in Oracle Corporation were worth $604,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in ORCL. Burt Wealth Advisors increased its stake in Oracle Corporation by 4.3% in the second quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after purchasing an additional 88 shares in the last quarter. Baystate Wealth Management LLC increased its stake in Oracle Corporation by 9.2% in the second quarter. Baystate Wealth Management LLC now owns 2,439 shares of the enterprise software provider’s stock valued at $123,000 after purchasing an additional 206 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in Oracle Corporation by 1,150.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,500 shares of the enterprise software provider’s stock valued at $112,000 after purchasing an additional 2,300 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Oracle Corporation in the second quarter valued at $129,000. Finally, Cribstone Capital Management LLC increased its stake in Oracle Corporation by 5.0% in the second quarter. Cribstone Capital Management LLC now owns 2,619 shares of the enterprise software provider’s stock valued at $131,000 after purchasing an additional 124 shares in the last quarter. Institutional investors and hedge funds own 58.05% of the company’s stock.
Shares of Oracle Corporation (NYSE ORCL) opened at $49.40 on Tuesday. The firm has a market cap of $205,836.33, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 1.88 and a beta of 1.07. The company has a current ratio of 3.63, a quick ratio of 3.61 and a debt-to-equity ratio of 0.86. Oracle Corporation has a 12-month low of $37.64 and a 12-month high of $53.14.
Oracle Corporation (NYSE:ORCL) last announced its quarterly earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The business had revenue of $9.21 billion during the quarter, compared to analysts’ expectations of $9.03 billion. Oracle Corporation had a net margin of 25.34% and a return on equity of 20.55%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 EPS. equities research analysts expect that Oracle Corporation will post 2.68 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 11th were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, October 10th. This represents a $0.76 annualized dividend and a dividend yield of 1.54%. Oracle Corporation’s dividend payout ratio is 33.19%.
Several equities research analysts have weighed in on ORCL shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $58.00 price target on shares of Oracle Corporation in a research note on Monday, September 11th. Vetr downgraded shares of Oracle Corporation from a “sell” rating to a “strong sell” rating and set a $46.58 price target for the company. in a research note on Tuesday, September 12th. Canaccord Genuity started coverage on shares of Oracle Corporation in a research note on Friday, October 6th. They issued a “buy” rating and a $57.00 price target for the company. BTIG Research reaffirmed a “buy” rating and issued a $58.00 price target on shares of Oracle Corporation in a research note on Tuesday, September 19th. Finally, Moffett Nathanson initiated coverage on shares of Oracle Corporation in a research report on Wednesday, September 6th. They set a “buy” rating and a $65.00 target price for the company. Twelve analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $55.05.
In other news, Director Jeffrey Berg sold 45,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $48.03, for a total value of $2,161,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $48.70, for a total transaction of $182,625.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 302,026 shares of company stock valued at $14,638,887. Corporate insiders own 29.00% of the company’s stock.
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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