Morningstar Investment Services LLC Sells 40,147 Shares of Oracle Co. (NYSE:ORCL)

Morningstar Investment Services LLC decreased its stake in shares of Oracle Co. (NYSE:ORCL) by 4.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 873,352 shares of the enterprise software provider’s stock after selling 40,147 shares during the period. Morningstar Investment Services LLC’s holdings in Oracle were worth $47,825,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. State of Michigan Retirement System grew its position in Oracle by 16.1% in the 2nd quarter. State of Michigan Retirement System now owns 1,273,328 shares of the enterprise software provider’s stock worth $70,377,000 after purchasing an additional 176,668 shares during the period. Duality Advisers LP purchased a new position in shares of Oracle in the 2nd quarter worth $438,000. Everett Harris & Co. CA grew its holdings in shares of Oracle by 12.1% in the second quarter. Everett Harris & Co. CA now owns 5,545 shares of the enterprise software provider’s stock worth $306,000 after acquiring an additional 600 shares during the period. Perigon Wealth Management LLC increased its position in Oracle by 30.4% during the second quarter. Perigon Wealth Management LLC now owns 6,623 shares of the enterprise software provider’s stock valued at $366,000 after acquiring an additional 1,544 shares during the last quarter. Finally, Eukles Asset Management lifted its holdings in Oracle by 15.4% in the second quarter. Eukles Asset Management now owns 29,873 shares of the enterprise software provider’s stock valued at $1,651,000 after acquiring an additional 3,997 shares during the period. Institutional investors own 48.10% of the company’s stock.

ORCL stock traded up $0.20 on Friday, hitting $55.45. 9,352,834 shares of the company’s stock were exchanged, compared to its average volume of 11,576,664. The firm has a 50 day moving average price of $55.15 and a two-hundred day moving average price of $52.88. The company has a debt-to-equity ratio of 5.44, a quick ratio of 3.03 and a current ratio of 3.03. Oracle Co. has a 12-month low of $39.71 and a 12-month high of $57.88. The stock has a market cap of $169.54 billion, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 1.40 and a beta of 0.87.

Oracle (NYSE:ORCL) last posted its quarterly earnings data on Tuesday, June 16th. The enterprise software provider reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.12. Oracle had a net margin of 25.94% and a return on equity of 72.76%. The firm had revenue of $10.44 billion for the quarter, compared to the consensus estimate of $10.72 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. Sell-side analysts expect that Oracle Co. will post 3.59 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 28th. Stockholders of record on Wednesday, July 15th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Tuesday, July 14th. Oracle’s dividend payout ratio is presently 27.75%.

Several equities research analysts have recently commented on ORCL shares. JPMorgan Chase & Co. upped their price target on shares of Oracle from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Credit Suisse Group increased their price target on shares of Oracle from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Citigroup boosted their price objective on shares of Oracle from $45.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, June 17th. Royal Bank of Canada restated a “neutral” rating and issued a $51.00 price objective on shares of Oracle in a research note on Wednesday, June 17th. Finally, UBS Group reiterated a “neutral” rating and set a $52.00 target price on shares of Oracle in a research report on Wednesday, June 17th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $55.34.

In other news, CEO Safra Catz sold 1,000,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $51.73, for a total value of $51,730,000.00. Following the sale, the chief executive officer now owns 2,368,592 shares in the company, valued at $122,527,264.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward Screven sold 700,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $54.14, for a total transaction of $37,898,000.00. Following the transaction, the insider now directly owns 3,001,419 shares of the company’s stock, valued at approximately $162,496,824.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,300,000 shares of company stock valued at $396,376,000. Company insiders own 36.60% of the company’s stock.

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.

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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