Scharf Investments LLC Sells 40,859 Shares of Oracle Co. (NYSE:ORCL)

Scharf Investments LLC lessened its position in shares of Oracle Co. (NYSE:ORCL) by 2.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,413,024 shares of the enterprise software provider’s stock after selling 40,859 shares during the quarter. Oracle makes up about 4.8% of Scharf Investments LLC’s holdings, making the stock its 9th largest position. Scharf Investments LLC owned about 0.05% of Oracle worth $177,490,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Orion Capital Management LLC acquired a new stake in shares of Oracle during the third quarter valued at $25,000. Westend Capital Management LLC acquired a new stake in shares of Oracle during the 1st quarter worth about $25,000. Spartan Planning & Wealth Management purchased a new stake in shares of Oracle during the third quarter worth about $27,000. Tidemark LLC acquired a new position in shares of Oracle in the fourth quarter valued at approximately $29,000. Finally, Nordwand Advisors LLC purchased a new position in shares of Oracle during the fourth quarter valued at approximately $30,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Stock Performance

Shares of NYSE:ORCL traded up $1.98 during trading on Thursday, reaching $140.21. 7,514,766 shares of the company’s stock traded hands, compared to its average volume of 8,581,704. The stock has a market capitalization of $386.40 billion, a P/E ratio of 37.78, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. Oracle Co. has a 12 month low of $99.26 and a 12 month high of $145.32. The company has a 50 day moving average of $124.23 and a 200-day moving average of $117.62. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.71 and a quick ratio of 0.72.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Tuesday, June 11th. The enterprise software provider reported $1.63 earnings per share (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 company had revenue of $14.29 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the prior year, the firm earned $1.35 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts expect that Oracle Co. will post 5.01 EPS for the current year.

Oracle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, July 11th. Oracle’s dividend payout ratio (DPR) is 43.13%.

Wall Street Analyst Weigh In

Several research firms have commented on ORCL. JPMorgan Chase & Co. upped their price objective on shares of Oracle from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, June 12th. Mizuho upped their price target on shares of Oracle from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Oppenheimer started coverage on shares of Oracle in a report on Thursday, April 18th. They issued a “market perform” rating on the stock. Sanford C. Bernstein upped their price objective on Oracle from $159.00 to $171.00 and gave the stock an “outperform” rating in a report on Wednesday, June 12th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $105.00 target price on shares of Oracle in a research report on Wednesday, June 12th. Fourteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Oracle has a consensus rating of “Moderate Buy” and an average price target of $145.83.

Insider Activity 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 sale, the insider now directly owns 2,626,764 shares in the company, valued at $379,042,045.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Edward Screven sold 235,918 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 2,626,764 shares in the company, valued at $379,042,045.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George H. Conrades sold 20,000 shares of the company’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 value of $2,320,000.00. Following the completion of the sale, the director now owns 17,836 shares of the company’s stock, valued at $2,068,976. The disclosure for this sale can be found here. Insiders have sold a total of 348,418 shares of company stock worth $47,784,717 in the last three months. 42.80% of the stock is owned by company insiders.

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.