Oracle Co. (NYSE:ORCL) Shares Sold by Sound Income Strategies LLC

Sound Income Strategies LLC cut its holdings in Oracle Co. (NYSE:ORCL) by 2.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,559 shares of the enterprise software provider’s stock after selling 93 shares during the period. Sound Income Strategies LLC’s holdings in Oracle were worth $447,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Oracle during the fourth quarter worth $1,210,181,000. Wellington Management Group LLP increased its position in shares of Oracle by 9,299.3% during the third quarter. Wellington Management Group LLP now owns 8,170,999 shares of the enterprise software provider’s stock worth $865,472,000 after acquiring an additional 8,084,067 shares during the period. Vanguard Group Inc. increased its position in shares of Oracle by 5.7% during the third quarter. Vanguard Group Inc. now owns 147,273,413 shares of the enterprise software provider’s stock worth $15,599,200,000 after acquiring an additional 7,883,515 shares during the period. Boston Partners increased its position in shares of Oracle by 382.4% during the fourth quarter. Boston Partners now owns 4,563,366 shares of the enterprise software provider’s stock worth $481,820,000 after acquiring an additional 3,617,413 shares during the period. Finally, Capital World Investors increased its position in shares of Oracle by 22.1% during the fourth quarter. Capital World Investors now owns 18,384,162 shares of the enterprise software provider’s stock worth $1,938,242,000 after acquiring an additional 3,323,334 shares during the period. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Oracle Stock Performance

ORCL traded down $0.76 during trading on Tuesday, reaching $139.13. The company’s stock had a trading volume of 8,469,386 shares, compared to its average volume of 8,596,465. Oracle Co. has a 52-week low of $99.26 and a 52-week high of $145.32. The company’s fifty day moving average price is $123.84 and its 200-day moving average price is $117.48. The company has a market capitalization of $383.42 billion, a price-to-earnings ratio of 37.50, a price-to-earnings-growth ratio of 2.57 and a beta of 1.01. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.72 and a current ratio of 0.71.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Tuesday, June 11th. The enterprise software provider reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.02). Oracle had a net margin of 19.76% and a return on equity of 223.01%. The business had revenue of $14.29 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same period in the prior year, the firm posted $1.35 EPS. Oracle’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts forecast that Oracle Co. will post 5.01 earnings per share for the current fiscal year.

Oracle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.15%. Oracle’s payout ratio is 43.13%.

Insider Activity

In other news, Director Michael J. Boskin sold 45,000 shares of Oracle stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $117.74, for a total transaction of $5,298,300.00. Following the completion of the sale, the director now directly owns 87,473 shares in the company, valued at approximately $10,299,071.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Michael J. Boskin sold 45,000 shares of Oracle stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $117.74, for a total transaction of $5,298,300.00. Following the completion of the sale, the director now directly owns 87,473 shares in the company, valued at approximately $10,299,071.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey Berg sold 22,500 shares of Oracle stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $143.12, for a total value of $3,220,200.00. Following the transaction, the director now owns 210,712 shares of the company’s stock, valued at $30,157,101.44. The disclosure for this sale can be found here. In the last three months, insiders sold 348,418 shares of company stock worth $47,784,717. Company insiders own 42.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ORCL. Sanford C. Bernstein upped their price objective on Oracle from $159.00 to $171.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. The Goldman Sachs Group increased their target price on Oracle from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, March 13th. Evercore ISI increased their target price on Oracle from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. StockNews.com lowered Oracle from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Finally, UBS Group increased their target price on Oracle from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Fourteen analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Oracle currently has an average rating of “Moderate Buy” and an average target price of $145.83.

About Oracle

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.