First County Bank CT Sells 132 Shares of Oracle Co. (NYSE:ORCL)

First County Bank CT lessened its holdings in shares of Oracle Co. (NYSE:ORCL) by 4.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,678 shares of the enterprise software provider’s stock after selling 132 shares during the period. First County Bank CT’s holdings in Oracle were worth $378,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Werlinich Asset Management LLC increased its stake in Oracle by 3.1% during the 2nd quarter. Werlinich Asset Management LLC now owns 2,325 shares of the enterprise software provider’s stock worth $326,000 after acquiring an additional 70 shares during the period. RFP Financial Group LLC increased its position in shares of Oracle by 2.7% in the second quarter. RFP Financial Group LLC now owns 2,869 shares of the enterprise software provider’s stock worth $405,000 after purchasing an additional 75 shares during the period. ERn Financial LLC increased its position in shares of Oracle by 0.6% in the second quarter. ERn Financial LLC now owns 12,911 shares of the enterprise software provider’s stock worth $1,823,000 after purchasing an additional 80 shares during the period. Key Financial Inc raised its stake in Oracle by 1.2% in the second quarter. Key Financial Inc now owns 6,600 shares of the enterprise software provider’s stock valued at $932,000 after purchasing an additional 80 shares in the last quarter. Finally, Abich Financial Wealth Management LLC lifted its position in Oracle by 18.0% during the first quarter. Abich Financial Wealth Management LLC now owns 530 shares of the enterprise software provider’s stock worth $67,000 after purchasing an additional 81 shares during the period. Institutional investors own 42.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ORCL. Bank of America boosted their target price on shares of Oracle from $155.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Citigroup boosted their price objective on shares of Oracle from $140.00 to $157.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Jefferies Financial Group upped their target price on Oracle from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. lifted their price target on Oracle from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Finally, TD Cowen upped their price objective on Oracle from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Ten investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $166.13.

Insider Activity at Oracle

In other Oracle news, EVP Maria Smith sold 6,320 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $165.00, for a total value of $1,042,800.00. Following the transaction, the executive vice president now directly owns 42,889 shares in the company, valued at $7,076,685. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Maria Smith sold 6,320 shares of Oracle stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the sale, the executive vice president now owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Lawrence Joseph Ellison sold 1,125,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $143.69, for a total transaction of $161,651,250.00. Following the sale, the chairman now directly owns 1,145,732,353 shares in the company, valued at $164,630,281,802.57. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,573,181 shares of company stock worth $225,338,245. 42.80% of the stock is owned by company insiders.

Oracle Trading Up 1.1 %

Shares of Oracle stock opened at $168.11 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68. The stock has a fifty day simple moving average of $144.36 and a 200 day simple moving average of $133.31. Oracle Co. has a 12-month low of $99.26 and a 12-month high of $173.99. The company has a market capitalization of $465.83 billion, a P/E ratio of 45.31, a price-to-earnings-growth ratio of 3.05 and a beta of 1.01.

Oracle (NYSE:ORCL) last released its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.06. The company had revenue of $13.31 billion during the quarter, compared to analyst estimates of $13.23 billion. Oracle had a return on equity of 171.38% and a net margin of 20.40%. Oracle’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 earnings per share. On average, sell-side analysts anticipate 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, October 24th. Investors of record on Thursday, October 10th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Thursday, October 10th. Oracle’s dividend payout ratio (DPR) is currently 43.13%.

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.