River Wealth Advisors LLC lessened its holdings in shares of Oracle Co. (NYSE:ORCL) by 2.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 58,506 shares of the enterprise software provider’s stock after selling 1,664 shares during the period. Oracle makes up approximately 1.1% of River Wealth Advisors LLC’s holdings, making the stock its 25th largest position. River Wealth Advisors LLC’s holdings in Oracle were worth $3,017,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Acadian Asset Management LLC boosted its position in shares of Oracle by 17.1% during the second quarter. Acadian Asset Management LLC now owns 57,907 shares of the enterprise software provider’s stock worth $2,551,000 after acquiring an additional 8,453 shares during the last quarter. Douglass Winthrop Advisors LLC lifted its position in Oracle by 5.6% during the second quarter. Douglass Winthrop Advisors LLC now owns 35,620 shares of the enterprise software provider’s stock valued at $1,569,000 after purchasing an additional 1,900 shares during the last quarter. Busey Trust CO lifted its position in Oracle by 0.8% during the second quarter. Busey Trust CO now owns 232,177 shares of the enterprise software provider’s stock valued at $10,229,000 after purchasing an additional 1,880 shares during the last quarter. Analyst IMS Investment Management Services Ltd. lifted its position in Oracle by 5.7% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 66,457 shares of the enterprise software provider’s stock valued at $2,888,000 after purchasing an additional 3,570 shares during the last quarter. Finally, Roof Advisory Group Inc. lifted its position in Oracle by 8.7% during the second quarter. Roof Advisory Group Inc. now owns 97,613 shares of the enterprise software provider’s stock valued at $4,301,000 after purchasing an additional 7,814 shares during the last quarter. 50.95% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have commented on the stock. Credit Suisse Group reiterated a “buy” rating and set a $60.00 price objective on shares of Oracle in a research report on Tuesday, September 18th. Royal Bank of Canada increased their price objective on shares of Oracle from $52.00 to $53.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 18th. Goldman Sachs Group reiterated a “buy” rating and set a $55.00 price objective on shares of Oracle in a research report on Tuesday, September 18th. KeyCorp reiterated a “hold” rating on shares of Oracle in a research report on Wednesday, September 12th. Finally, Wedbush reiterated a “neutral” rating and set a $49.00 price objective on shares of Oracle in a research report on Tuesday, September 18th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and fifteen have issued a buy rating to the stock. Oracle presently has an average rating of “Hold” and an average price target of $53.71.
In related news, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $49.42, for a total value of $185,325.00. Following the transaction, the director now owns 27,969 shares of the company’s stock, valued at approximately $1,382,227.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Dorian Daley sold 131,696 shares of the firm’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $50.93, for a total transaction of $6,707,277.28. Following the completion of the transaction, the executive vice president now directly owns 109,615 shares in the company, valued at approximately $5,582,691.95. The disclosure for this sale can be found here. In the last three months, insiders sold 142,946 shares of company stock worth $7,257,365. Insiders own 32.00% of the company’s stock.
Shares of ORCL opened at $48.70 on Friday. Oracle Co. has a twelve month low of $42.57 and a twelve month high of $53.48. The firm has a market capitalization of $201.60 billion, a PE ratio of 16.79, a PEG ratio of 1.63 and a beta of 1.12. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 1.41.
Oracle (NYSE:ORCL) last announced its earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The business had revenue of $9.20 billion for the quarter, compared to the consensus estimate of $9.26 billion. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities research analysts predict that Oracle Co. will post 3.06 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 30th. Stockholders of record on Tuesday, October 16th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Monday, October 15th. Oracle’s dividend payout ratio is currently 26.95%.
Oracle declared that its board has approved a stock buyback program on Monday, September 17th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the enterprise software provider to reacquire up to 5.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
ILLEGAL ACTIVITY WARNING: “Oracle Co. (ORCL) Shares Sold by River Wealth Advisors LLC” was first published by Fairfield Current and is the sole property of of Fairfield Current. If you are viewing this report on another site, it was stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this report can be viewed at https://www.fairfieldcurrent.com/2018/11/25/oracle-co-orcl-shares-sold-by-river-wealth-advisors-llc.html.
Oracle Company Profile
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
See Also: What is a Swap?
Want to see what other hedge funds are holding ORCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oracle Co. (NYSE:ORCL).
Receive News & Ratings for Oracle Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Oracle and related companies with MarketBeat.com’s FREE daily email newsletter.