Independent Investors Inc. Sells 1,500 Shares of Oracle Co. (NYSE:ORCL)

Independent Investors Inc. cut its stake in Oracle Co. (NYSE:ORCL) by 2.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,200 shares of the enterprise software provider’s stock after selling 1,500 shares during the period. Oracle comprises about 1.2% of Independent Investors Inc.’s holdings, making the stock its 22nd largest holding. Independent Investors Inc.’s holdings in Oracle were worth $3,125,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ORCL. Norges Bank acquired a new stake in shares of Oracle during the fourth quarter worth about $1,235,719,000. Oregon Public Employees Retirement Fund increased its position in shares of Oracle by 4,197.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,616,969 shares of the enterprise software provider’s stock worth $302,000 after purchasing an additional 13,300,077 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Oracle by 573.1% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 3,036,352 shares of the enterprise software provider’s stock worth $137,091,000 after purchasing an additional 2,585,272 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Oracle by 1,540.3% during the first quarter. Assenagon Asset Management S.A. now owns 2,380,038 shares of the enterprise software provider’s stock worth $127,832,000 after purchasing an additional 2,234,942 shares in the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in Oracle in the 4th quarter valued at about $59,049,000. 54.40% of the stock is owned by institutional investors.

In related news, CEO Mark V. Hurd sold 787,500 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $56.29, for a total value of $44,328,375.00. Following the completion of the sale, the chief executive officer now directly owns 874,871 shares in the company, valued at approximately $49,246,488.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO W Corey West sold 50,000 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $56.25, for a total value of $2,812,500.00. Following the completion of the sale, the chief accounting officer now owns 85,348 shares of the company’s stock, valued at $4,800,825. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,870,000 shares of company stock valued at $104,437,950. Insiders own 32.00% of the company’s stock.

Several equities analysts recently issued reports on the company. William Blair restated a “market perform” rating on shares of Oracle in a research report on Thursday, June 20th. Raymond James boosted their price target on Oracle from $57.00 to $61.00 and gave the company an “outperform” rating in a research report on Thursday, June 20th. Wedbush restated a “neutral” rating and issued a $55.00 price target (down previously from $55.92) on shares of Oracle in a research report on Thursday, June 20th. Wells Fargo & Co boosted their price target on Oracle from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, June 20th. Finally, Barclays boosted their price target on Oracle from $55.00 to $59.00 and gave the company an “equal weight” rating in a research report on Thursday, June 20th. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $54.58.

Shares of NYSE:ORCL traded up $1.04 during trading on Monday, hitting $58.01. 20,411,311 shares of the stock were exchanged, compared to its average volume of 14,585,382. Oracle Co. has a 12-month low of $42.40 and a 12-month high of $58.09. The company has a debt-to-equity ratio of 2.31, a quick ratio of 2.49 and a current ratio of 2.49. The company has a fifty day simple moving average of $53.96. The company has a market capitalization of $190.04 billion, a P/E ratio of 18.36, a PEG ratio of 1.66 and a beta of 1.15.

Oracle (NYSE:ORCL) last posted its earnings results on Wednesday, June 19th. The enterprise software provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. The firm had revenue of $11.14 billion for the quarter, compared to analyst estimates of $10.93 billion. Oracle had a return on equity of 40.95% and a net margin of 28.06%. Oracle’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. As a group, research analysts predict that Oracle Co. will post 3.5 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, July 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.65%. Oracle’s payout ratio is 30.38%.

Oracle Company Profile

Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.

Read More: Calculating net profit and net profit margin ratio

Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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