Independence Bank of Kentucky Reduces Stock Holdings in Oracle Co. (NYSE:ORCL)

Independence Bank of Kentucky trimmed its position in Oracle Co. (NYSE:ORCL) by 10.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,979 shares of the enterprise software provider’s stock after selling 1,261 shares during the period. Independence Bank of Kentucky’s holdings in Oracle were worth $1,379,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Oracle by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 147,273,413 shares of the enterprise software provider’s stock valued at $15,599,200,000 after buying an additional 7,883,515 shares in the last quarter. Capital World Investors lifted its position in shares of Oracle by 22.1% during the 4th quarter. Capital World Investors now owns 18,384,162 shares of the enterprise software provider’s stock valued at $1,938,242,000 after buying an additional 3,323,334 shares in the last quarter. Parnassus Investments LLC lifted its position in shares of Oracle by 17.7% during the 4th quarter. Parnassus Investments LLC now owns 14,599,902 shares of the enterprise software provider’s stock valued at $1,539,268,000 after buying an additional 2,191,342 shares in the last quarter. Putnam Investments LLC lifted its position in shares of Oracle by 6.0% during the 4th quarter. Putnam Investments LLC now owns 12,339,385 shares of the enterprise software provider’s stock valued at $1,300,941,000 after buying an additional 697,961 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Oracle by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,909,069 shares of the enterprise software provider’s stock valued at $1,223,775,000 after buying an additional 204,546 shares in the last quarter. 42.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Oracle news, insider Edward Screven sold 37,221 shares of the stock in a transaction on 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 sale, the insider now owns 2,626,764 shares in the company, valued at $368,246,045.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Edward Screven sold 37,221 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $140.19, for a total transaction of $5,218,011.99. Following the transaction, the insider now owns 2,626,764 shares of the company’s stock, valued at approximately $368,246,045.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director George H. Conrades sold 20,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $116.00, for a total value of $2,320,000.00. Following the transaction, the director now directly owns 17,836 shares in the company, valued at approximately $2,068,976. The disclosure for this sale can be found here. Insiders have sold a total of 385,639 shares of company stock worth $53,002,729 over the last quarter. Company insiders own 42.80% of the company’s stock.

Oracle Trading Up 0.7 %

NYSE:ORCL traded up $1.02 during midday trading on Friday, hitting $141.20. 25,814,821 shares of the company traded hands, compared to its average volume of 11,264,646. The firm’s fifty day moving average is $125.24 and its 200-day moving average is $117.96. Oracle Co. has a 12-month low of $99.26 and a 12-month high of $145.32. The firm has a market capitalization of $389.13 billion, a P/E ratio of 38.06, a P/E/G ratio of 2.54 and a beta of 1.01. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 8.25.

Oracle (NYSE:ORCL) last released its quarterly earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.02). Oracle had a net margin of 19.76% and a return on equity of 223.01%. The company had revenue of $14.29 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the previous year, the company posted $1.35 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts predict that Oracle Co. will post 5.01 EPS 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 paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.13%. Oracle’s payout ratio is 43.13%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. HSBC boosted their price target on Oracle from $144.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Citigroup lowered their price target on Oracle from $133.00 to $128.00 and set a “neutral” rating on the stock in a report on Monday, June 10th. DA Davidson reissued a “neutral” rating and issued a $105.00 price target on shares of Oracle in a report on Wednesday, June 12th. Argus boosted their price target on Oracle from $145.00 to $159.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Finally, Sanford C. Bernstein boosted their price target on Oracle from $159.00 to $171.00 and gave the stock an “outperform” rating in a report on Wednesday, June 12th. Fourteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $145.83.

Oracle Company 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.