Charter Trust Co. Reduces Stock Position in Oracle Co. (NYSE:ORCL)

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Charter Trust Co. lessened its holdings in Oracle Co. (NYSE:ORCL) by 47.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,599 shares of the enterprise software provider’s stock after selling 11,525 shares during the quarter. Charter Trust Co.’s holdings in Oracle were worth $609,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. First National Bank of South Miami boosted its stake in Oracle by 104.6% in the fourth quarter. First National Bank of South Miami now owns 489 shares of the enterprise software provider’s stock valued at $26,000 after acquiring an additional 250 shares in the last quarter. Lloyd Advisory Services LLC. acquired a new position in Oracle in the fourth quarter valued at $26,000. Samalin Investment Counsel LLC acquired a new position in Oracle in the fourth quarter valued at $27,000. Solstein Capital LLC acquired a new position in Oracle in the fourth quarter valued at $33,000. Finally, ERTS Wealth Advisors LLC acquired a new position in Oracle in the fourth quarter valued at $36,000. 48.14% of the stock is currently owned by hedge funds and other institutional investors.

Oracle stock traded down $2.16 during mid-day trading on Thursday, reaching $51.95. The company had a trading volume of 5,741,305 shares, compared to its average volume of 13,014,168. Oracle Co. has a 1 year low of $39.71 and a 1 year high of $60.50. The company has a debt-to-equity ratio of 3.31, a current ratio of 2.12 and a quick ratio of 2.12. The company has a market capitalization of $168.16 billion, a P/E ratio of 16.31, a P/E/G ratio of 1.34 and a beta of 0.89. The stock’s 50-day simple moving average is $52.98 and its 200-day simple moving average is $52.75.

Oracle (NYSE:ORCL) last issued its earnings results on Thursday, March 12th. The enterprise software provider reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.01. Oracle had a net margin of 27.06% and a return on equity of 64.68%. The company had revenue of $9.80 billion during the quarter, compared to analysts’ expectations of $9.75 billion. During the same period last year, the company posted $0.87 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that Oracle Co. will post 3.46 EPS for the current fiscal year.

Oracle declared that its Board of Directors has authorized a share buyback program on Thursday, March 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the enterprise software provider to purchase up to 9.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

In other news, CEO Safra Catz sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $51.73, for a total transaction of $51,730,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,368,592 shares of the company’s stock, valued at approximately $122,527,264.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles W. Moorman acquired 10,000 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were acquired at an average cost of $45.23 per share, with a total value of $452,300.00. Following the completion of the purchase, the director now owns 18,561 shares in the company, valued at $839,514.03. The disclosure for this purchase can be found here. Company insiders own 36.60% of the company’s stock.

Several equities analysts have issued reports on ORCL shares. BMO Capital Markets decreased their price objective on shares of Oracle from $62.00 to $46.00 and set a “market perform” rating for the company in a research note on Friday, March 13th. Goldman Sachs Group reiterated a “buy” rating and set a $52.00 target price on shares of Oracle in a research note on Thursday, March 26th. Exane BNP Paribas downgraded shares of Oracle from an “outperform” rating to a “neutral” rating and set a $56.00 target price for the company. in a research note on Monday, June 1st. Cleveland Research upgraded shares of Oracle from a “neutral” rating to a “buy” rating in a research note on Monday, March 9th. Finally, Credit Suisse Group set a $57.00 target price on shares of Oracle and gave the stock a “buy” rating in a research note on Friday, May 15th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $53.86.

About Oracle

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.

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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