Narwhal Capital Management Sells 7,672 Shares of Oracle Co. (NYSE:ORCL)

Narwhal Capital Management trimmed its holdings in Oracle Co. (NYSE:ORCL) by 20.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,141 shares of the enterprise software provider’s stock after selling 7,672 shares during the quarter. Narwhal Capital Management’s holdings in Oracle were worth $1,660,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ORCL. Norges Bank bought a new stake in shares of Oracle in the fourth quarter valued at approximately $1,235,719,000. Assenagon Asset Management S.A. boosted its position in shares of Oracle by 1,540.3% in the first quarter. Assenagon Asset Management S.A. now owns 2,380,038 shares of the enterprise software provider’s stock valued at $127,832,000 after acquiring an additional 2,234,942 shares during the period. PGGM Investments raised its stake in shares of Oracle by 1,064.6% in the second quarter. PGGM Investments now owns 2,258,315 shares of the enterprise software provider’s stock valued at $128,656,000 after purchasing an additional 2,064,403 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Oracle by 132.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,507,235 shares of the enterprise software provider’s stock valued at $199,811,000 after purchasing an additional 1,996,744 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Oracle by 35.5% in the second quarter. First Trust Advisors LP now owns 3,794,527 shares of the enterprise software provider’s stock valued at $216,174,000 after purchasing an additional 993,629 shares in the last quarter. 54.26% of the stock is owned by institutional investors.

Oracle stock traded down $0.75 during mid-day trading on Friday, hitting $53.90. 7,785,547 shares of the company were exchanged, compared to its average volume of 10,649,982. The company has a debt-to-equity ratio of 2.31, a current ratio of 2.49 and a quick ratio of 2.49. The business has a fifty day moving average of $57.54. Oracle Co. has a 1-year low of $42.40 and a 1-year high of $60.50. The company has a market capitalization of $182.30 billion, a P/E ratio of 17.06, a PEG ratio of 1.60 and a beta of 1.15.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Wednesday, June 19th. The enterprise software provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.18. Oracle had a return on equity of 40.95% and a net margin of 28.06%. The firm had revenue of $11.14 billion during the quarter, compared to analyst estimates of $10.93 billion. During the same period in the prior year, the company posted $0.99 earnings per share. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. Research analysts anticipate that Oracle Co. will post 3.5 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, July 16th. This represents a $0.96 annualized dividend and a yield of 1.78%. Oracle’s dividend payout ratio is currently 30.38%.

A number of research analysts recently commented on the company. Morgan Stanley upped their target price on Oracle from $54.00 to $59.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 21st. ValuEngine lowered Oracle from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Wells Fargo & Co upped their target price on Oracle from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, June 20th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $53.00 target price on shares of Oracle in a research note on Tuesday, June 18th. Finally, William Blair restated a “market perform” rating on shares of Oracle in a research note on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $54.58.

In other news, EVP Dorian Daley sold 100,000 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $56.92, for a total transaction of $5,692,000.00. Following the sale, the executive vice president now owns 177,919 shares in the company, valued at $10,127,149.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $54.52, for a total value of $204,450.00. Following the sale, the director now owns 27,969 shares in the company, valued at approximately $1,524,869.88. The disclosure for this sale can be found here. Insiders have sold 1,356,250 shares of company stock valued at $76,913,375 over the last quarter. Corporate insiders own 32.00% of the company’s stock.

About Oracle

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.

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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