Park National Corp OH Cuts Stock Holdings in Oracle Co. (NYSE:ORCL)

Park National Corp OH trimmed its position in shares of Oracle Co. (NYSE:ORCL) by 9.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,981 shares of the enterprise software provider’s stock after selling 1,377 shares during the quarter. Park National Corp OH’s holdings in Oracle were worth $1,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Confluence Investment Management LLC purchased a new stake in shares of Oracle during the first quarter valued at approximately $74,353,000. General Partner Inc. boosted its holdings in shares of Oracle by 119.0% in the 1st quarter. General Partner Inc. now owns 2,190 shares of the enterprise software provider’s stock worth $275,000 after buying an additional 1,190 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in Oracle by 103.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,039 shares of the enterprise software provider’s stock valued at $215,000 after buying an additional 1,038 shares during the period. HighPoint Advisor Group LLC purchased a new stake in Oracle during the fourth quarter worth about $3,153,000. Finally, Accent Capital Management LLC bought a new stake in Oracle in the fourth quarter worth about $42,000. Institutional investors own 42.44% of the company’s stock.

Wall Street Analysts Forecast Growth

ORCL has been the topic of a number of research reports. William Blair raised shares of Oracle from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 12th. JMP Securities reiterated a “market perform” rating on shares of Oracle in a research note on Tuesday, June 11th. HSBC lifted their price target on Oracle from $144.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. TD Cowen increased their target price on shares of Oracle from $145.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Finally, Piper Sandler boosted their price target on shares of Oracle from $140.00 to $150.00 and gave the company an “overweight” 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $144.79.

Oracle Price Performance

ORCL opened at $144.64 on Wednesday. The stock’s 50 day moving average price is $121.81 and its 200-day moving average price is $116.50. Oracle Co. has a 52-week low of $99.26 and a 52-week high of $145.06. The stock has a market capitalization of $397.54 billion, a PE ratio of 38.99, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.71.

Oracle (NYSE:ORCL) last posted its earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.02). Oracle had a return on equity of 223.01% and a net margin of 19.76%. The company 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 business posted $1.35 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts predict that Oracle Co. will post 5.01 EPS for the current year.

Oracle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Thursday, July 11th. Oracle’s dividend payout ratio is currently 43.13%.

Insider Activity

In other news, CEO Safra Catz sold 790,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $126.54, for a total transaction of $99,966,600.00. Following the sale, the chief executive officer now owns 1,118,592 shares in the company, valued at approximately $141,546,631.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Safra Catz sold 790,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $126.54, for a total value of $99,966,600.00. Following the sale, the chief executive officer now owns 1,118,592 shares in the company, valued at approximately $141,546,631.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael J. Boskin sold 45,000 shares of Oracle stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $117.74, for a total value of $5,298,300.00. Following the transaction, the director now owns 87,473 shares of the company’s stock, valued at approximately $10,299,071.02. The disclosure for this sale can be found here. Insiders sold a total of 880,000 shares of company stock worth $110,488,150 in the last quarter. 42.80% of the stock is owned by company insiders.

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.