Handelsinvest Investeringsforvaltning Sells 2,276 Shares of Oracle Co. (NYSE:ORCL)

Handelsinvest Investeringsforvaltning decreased its holdings in Oracle Co. (NYSE:ORCL) by 15.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,644 shares of the enterprise software provider’s stock after selling 2,276 shares during the quarter. Oracle accounts for about 0.8% of Handelsinvest Investeringsforvaltning’s investment portfolio, making the stock its 27th largest position. Handelsinvest Investeringsforvaltning’s holdings in Oracle were worth $1,588,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Naviter Wealth LLC bought a new stake in shares of Oracle during the first quarter valued at approximately $763,000. Financial Security Advisor Inc. increased its holdings in shares of Oracle by 13.3% in the first quarter. Financial Security Advisor Inc. now owns 8,643 shares of the enterprise software provider’s stock worth $1,086,000 after purchasing an additional 1,017 shares during the last quarter. State of Michigan Retirement System boosted its stake in Oracle by 0.4% during the first quarter. State of Michigan Retirement System now owns 436,832 shares of the enterprise software provider’s stock valued at $54,870,000 after buying an additional 1,800 shares during the last quarter. Exchange Capital Management Inc. grew its holdings in Oracle by 6.1% during the 1st quarter. Exchange Capital Management Inc. now owns 4,432 shares of the enterprise software provider’s stock valued at $557,000 after buying an additional 256 shares in the last quarter. Finally, Leonard Rickey Investment Advisors P.L.L.C. raised its holdings in shares of Oracle by 5.9% during the 1st quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 3,796 shares of the enterprise software provider’s stock worth $477,000 after acquiring an additional 211 shares in the last quarter. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Price Performance

Oracle stock opened at $144.31 on Wednesday. Oracle Co. has a 1 year low of $99.26 and a 1 year high of $145.32. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.72 and a current ratio of 0.71. The company’s 50 day simple moving average is $125.81 and its 200-day simple moving average is $118.49. The company has a market capitalization of $397.70 billion, a price-to-earnings ratio of 38.62, a price-to-earnings-growth ratio of 2.56 and a beta of 1.02.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.02). The firm had revenue of $14.29 billion for the quarter, compared to analyst estimates of $14.57 billion. Oracle had a return on equity of 223.01% and a net margin of 19.76%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $1.35 earnings per share. As a group, equities research analysts expect that Oracle Co. will post 5.01 earnings per share for the current year.

Oracle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, July 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.11%. Oracle’s dividend payout ratio (DPR) is presently 43.13%.

Wall Street Analysts Forecast Growth

Several research firms have commented on ORCL. TD Cowen increased their price objective on shares of Oracle from $145.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Mizuho increased their price target on Oracle from $160.00 to $170.00 and gave the company a “buy” rating in a report on Monday, June 17th. Morgan Stanley reiterated an “equal weight” rating and set a $125.00 price objective on shares of Oracle in a research report on Tuesday, June 25th. KeyCorp raised their target price on shares of Oracle from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, June 12th. Finally, Bank of America boosted their target price on Oracle from $144.00 to $155.00 and gave the company a “neutral” rating in a research report on Wednesday, June 12th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.83.

Insiders Place Their Bets

In related news, insider Edward Screven sold 37,221 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $140.19, for a total value of $5,218,011.99. Following the sale, the insider now owns 2,626,764 shares of the company’s stock, valued at $368,246,045.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director George H. Conrades sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $116.13, for a total value of $2,903,250.00. Following the completion of the sale, the director now directly owns 17,836 shares of the company’s stock, valued at $2,071,294.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Edward Screven sold 37,221 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $140.19, for a total value of $5,218,011.99. Following the transaction, the insider now directly owns 2,626,764 shares in the company, valued at approximately $368,246,045.16. The disclosure for this sale can be found here. Insiders sold a total of 385,639 shares of company stock worth $53,002,729 over the last 90 days. Corporate insiders own 42.80% of the company’s stock.

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.