Blume Capital Management Inc. cut its stake in shares of Oracle Co. (NYSE:ORCL) by 51.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,350 shares of the enterprise software provider’s stock after selling 11,034 shares during the period. Blume Capital Management Inc.’s holdings in Oracle were worth $806,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Whale Rock Capital Management LLC purchased a new stake in shares of Oracle during the 1st quarter worth approximately $364,127,000. Alliancebernstein L.P. increased its stake in Oracle by 20.9% in the 1st quarter. Alliancebernstein L.P. now owns 14,703,345 shares of the enterprise software provider’s stock valued at $1,031,734,000 after buying an additional 2,539,796 shares during the period. Mn Services Vermogensbeheer B.V. acquired a new position in Oracle in the 2nd quarter valued at $92,111,000. Black Creek Investment Management Inc. boosted its position in shares of Oracle by 28.9% during the 1st quarter. Black Creek Investment Management Inc. now owns 5,281,936 shares of the enterprise software provider’s stock worth $370,633,000 after purchasing an additional 1,184,324 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Oracle by 23.4% during the 1st quarter. AQR Capital Management LLC now owns 4,707,755 shares of the enterprise software provider’s stock worth $330,344,000 after purchasing an additional 892,082 shares in the last quarter. 44.47% of the stock is owned by institutional investors and hedge funds.
Shares of Oracle stock traded up $0.60 during trading on Wednesday, hitting $86.99. 176,821 shares of the stock traded hands, compared to its average volume of 11,780,113. The stock has a market cap of $242.88 billion, a P/E ratio of 18.97, a PEG ratio of 2.53 and a beta of 0.80. The company has a debt-to-equity ratio of 12.77, a quick ratio of 2.30 and a current ratio of 2.30. Oracle Co. has a twelve month low of $55.14 and a twelve month high of $91.78. The company has a fifty day moving average price of $88.73 and a two-hundred day moving average price of $80.39.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 26th. Shareholders of record on Tuesday, October 12th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Friday, October 8th. Oracle’s dividend payout ratio is currently 30.77%.
A number of research firms have issued reports on ORCL. The Goldman Sachs Group upped their target price on shares of Oracle from $60.00 to $66.00 and gave the company a “sell” rating in a report on Tuesday. Barclays upped their target price on shares of Oracle from $83.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, September 2nd. Cowen reaffirmed a “buy” rating and set a $93.00 price objective on shares of Oracle in a research note on Friday, September 10th. Stifel Nicolaus upped their price objective on shares of Oracle from $62.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, June 16th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $95.00 price objective on shares of Oracle in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $80.38.
In other Oracle news, Director Naomi O. Seligman sold 35,000 shares of the stock in a transaction dated Tuesday, August 3rd. The stock was sold at an average price of $87.88, for a total value of $3,075,800.00. Following the completion of the sale, the director now directly owns 71,724 shares in the company, valued at $6,303,105.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dorian Daley sold 125,000 shares of the stock in a transaction dated Friday, June 18th. The stock was sold at an average price of $76.38, for a total value of $9,547,500.00. Following the completion of the sale, the executive vice president now owns 125,000 shares of the company’s stock, valued at $9,547,500. The disclosure for this sale can be found here. In the last three months, insiders sold 385,000 shares of company stock worth $30,231,050. Insiders own 39.10% of the company’s stock.
Oracle Corp. engages in the provision of products and services that address all aspects of corporate information technology environments. It operates through the following business segments: Cloud and License, Hardware, and Services. The Cloud and License segment markets, sells, and delivers applications, platform, and infrastructure technologies.
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