Berkshire Asset Management LLC PA Trims Holdings in Oracle Corporation $ORCL

Berkshire Asset Management LLC PA cut its stake in Oracle Corporation (NYSE:ORCL) by 2.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 21,081 shares of the enterprise software provider’s stock after selling 623 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Oracle were worth $3,168,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Legacy Financial Advisors Inc. grew its position in Oracle by 1.2% during the first quarter. Legacy Financial Advisors Inc. now owns 19,180 shares of the enterprise software provider’s stock worth $2,682,000 after buying an additional 219 shares in the last quarter. bLong Financial LLC grew its position in Oracle by 23.3% during the first quarter. bLong Financial LLC now owns 2,120 shares of the enterprise software provider’s stock worth $296,000 after buying an additional 400 shares in the last quarter. CWS Financial Advisors LLC grew its position in Oracle by 41.5% during the first quarter. CWS Financial Advisors LLC now owns 1,706 shares of the enterprise software provider’s stock worth $238,000 after buying an additional 500 shares in the last quarter. Bank OZK grew its position in Oracle by 388.6% during the first quarter. Bank OZK now owns 10,353 shares of the enterprise software provider’s stock worth $1,447,000 after buying an additional 8,234 shares in the last quarter. Finally, Disciplina Capital Management LLC grew its position in Oracle by 129.5% during the first quarter. Disciplina Capital Management LLC now owns 436 shares of the enterprise software provider’s stock worth $61,000 after buying an additional 246 shares in the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Vice Chairman Jeffrey Henley sold 400,000 shares of the firm’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $190.42, for a total value of $76,168,000.00. Following the transaction, the insider directly owned 1,097,576 shares of the company’s stock, valued at approximately $209,000,421.92. This trade represents a 26.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Maria Smith sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total value of $2,329,900.00. Following the completion of the transaction, the executive vice president directly owned 40,807 shares in the company, valued at approximately $9,507,622.93. This represents a 19.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 444,183 shares of company stock worth $86,521,198 in the last quarter. Company insiders own 42.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ORCL. Piper Sandler upgraded Oracle from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $190.00 to $270.00 in a research report on Thursday, July 10th. KeyCorp boosted their target price on Oracle from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, June 12th. Mizuho lifted their price target on Oracle from $245.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday. Jefferies Financial Group lifted their price target on Oracle from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. Finally, Bank of America lifted their price target on Oracle from $220.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Nine equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $227.04.

Oracle Price Performance

NYSE ORCL opened at $248.86 on Tuesday. The business’s fifty day moving average price is $231.98 and its 200-day moving average price is $181.14. The stock has a market capitalization of $699.01 billion, a price-to-earnings ratio of 57.34, a PEG ratio of 3.71 and a beta of 1.43. The company has a debt-to-equity ratio of 4.07, a current ratio of 0.75 and a quick ratio of 0.75. Oracle Corporation has a 1-year low of $118.86 and a 1-year high of $260.87.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.06. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The firm had revenue of $15.90 billion for the quarter, compared to analysts’ expectations of $15.58 billion. During the same period in the prior year, the firm earned $1.63 EPS. The company’s revenue was up 11.3% compared to the same quarter last year. On average, equities analysts predict that Oracle Corporation will post 5 earnings per share for the current year.

Oracle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 10th. Oracle’s dividend payout ratio (DPR) is currently 46.08%.

Oracle Profile

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.