Penobscot Investment Management Company Inc. Sells 137 Shares of Oracle Co. (NYSE:ORCL)

Penobscot Investment Management Company Inc. decreased its stake in shares of Oracle Co. (NYSE:ORCL) by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,001 shares of the enterprise software provider’s stock after selling 137 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Oracle were worth $1,382,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ORCL. Westend Capital Management LLC bought a new stake in shares of Oracle in the 1st quarter worth $25,000. Tidemark LLC purchased a new stake in shares of Oracle during the 4th quarter valued at about $29,000. Nordwand Advisors LLC bought a new stake in shares of Oracle in the fourth quarter worth approximately $30,000. Frank Rimerman Advisors LLC purchased a new position in shares of Oracle during the fourth quarter valued at approximately $30,000. Finally, Alaska Permanent Fund Corp bought a new position in Oracle during the first quarter valued at approximately $36,000. 42.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. DA Davidson reissued a “neutral” rating and set a $105.00 price target on shares of Oracle in a report on Wednesday, June 12th. BMO Capital Markets upped their price target on shares of Oracle from $142.00 to $160.00 and gave the company a “market perform” rating in a research report on Monday, June 17th. Piper Sandler restated an “overweight” rating and set a $150.00 target price on shares of Oracle in a research report on Friday, July 12th. Stifel Nicolaus increased their price target on shares of Oracle from $120.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, June 12th. Finally, Evercore ISI upped their price objective on Oracle from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Oracle has an average rating of “Moderate Buy” and an average price target of $145.83.

Insider Buying and Selling at Oracle

In related news, insider Edward Screven sold 235,918 shares of Oracle stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $144.30, for a total transaction of $34,042,967.40. Following the completion of the transaction, the insider now directly owns 2,626,764 shares of the company’s stock, valued at approximately $379,042,045.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director George H. Conrades sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $116.00, for a total transaction of $2,320,000.00. Following the completion of the sale, the director now directly owns 17,836 shares of the company’s stock, valued at approximately $2,068,976. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward Screven sold 235,918 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $144.30, for a total value of $34,042,967.40. Following the completion of the transaction, the insider now directly owns 2,626,764 shares in the company, valued at approximately $379,042,045.20. The disclosure for this sale can be found here. Insiders have sold 1,952,500 shares of company stock worth $277,298,174 over the last quarter. Insiders own 42.80% of the company’s stock.

Oracle Price Performance

ORCL stock traded up $2.63 during trading on Tuesday, hitting $142.80. 3,251,450 shares of the company’s stock traded hands, compared to its average volume of 8,505,881. The business has a fifty day simple moving average of $133.65 and a 200 day simple moving average of $122.42. Oracle Co. has a 52 week low of $99.26 and a 52 week high of $146.59. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.72 and a current ratio of 0.71. The stock has a market capitalization of $393.54 billion, a price-to-earnings ratio of 38.26, a P/E/G ratio of 2.51 and a beta of 1.02.

Oracle (NYSE:ORCL) last announced its quarterly earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.02). Oracle had a net margin of 19.76% and a return on equity of 223.01%. The business had revenue of $14.29 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the previous year, the business posted $1.35 EPS. The firm’s revenue was up 3.3% on a year-over-year basis. As a group, research analysts expect that Oracle Co. will post 5.02 EPS for the current fiscal year.

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, July 11th. Oracle’s payout ratio is 43.13%.

Oracle 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.