Hourglass Capital LLC Sells 1,550 Shares of Oracle Co. (NYSE:ORCL)

Hourglass Capital LLC trimmed its position in shares of Oracle Co. (NYSE:ORCL) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,672 shares of the enterprise software provider’s stock after selling 1,550 shares during the period. Oracle accounts for approximately 2.8% of Hourglass Capital LLC’s investment portfolio, making the stock its 3rd biggest position. Hourglass Capital LLC’s holdings in Oracle were worth $9,555,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ORCL. Arizona State Retirement System increased its holdings in shares of Oracle by 1.0% in the second quarter. Arizona State Retirement System now owns 478,086 shares of the enterprise software provider’s stock valued at $67,506,000 after purchasing an additional 4,777 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Oracle by 1.0% in the second quarter. Victory Capital Management Inc. now owns 569,980 shares of the enterprise software provider’s stock valued at $80,481,000 after purchasing an additional 5,396 shares during the last quarter. Denver PWM LLC increased its holdings in shares of Oracle by 1.0% in the second quarter. Denver PWM LLC now owns 9,969 shares of the enterprise software provider’s stock valued at $1,408,000 after purchasing an additional 96 shares during the last quarter. MCF Advisors LLC increased its holdings in shares of Oracle by 2.2% in the second quarter. MCF Advisors LLC now owns 6,186 shares of the enterprise software provider’s stock valued at $873,000 after purchasing an additional 132 shares during the last quarter. Finally, CapWealth Advisors LLC acquired a new position in shares of Oracle in the second quarter valued at $4,181,000. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Edward Screven sold 235,918 shares of the business’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 sale, the insider now owns 2,626,764 shares of the company’s stock, valued at $379,042,045.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Jeffrey Berg sold 22,500 shares of Oracle stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $143.12, for a total transaction of $3,220,200.00. Following the completion of the transaction, the director now owns 210,712 shares of the company’s stock, valued at $30,157,101.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $34,042,967.40. Following the sale, 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 sold 1,862,500 shares of company stock valued at $266,776,624 over the last quarter. 42.80% of the stock is owned by company insiders.

Oracle Stock Up 0.6 %

ORCL stock opened at $143.46 on Friday. The stock has a market capitalization of $395.36 billion, a P/E ratio of 38.44, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 8.25. Oracle Co. has a 12 month low of $99.26 and a 12 month high of $146.59. The firm has a 50-day moving average price of $138.70 and a 200-day moving average price of $128.12.

Oracle (NYSE:ORCL) last posted its 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). The company had revenue of $14.29 billion during the quarter, compared to the consensus estimate of $14.57 billion. Oracle had a return on equity of 223.01% and a net margin of 19.76%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $1.35 EPS. As a group, equities research analysts anticipate 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 was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Thursday, July 11th. Oracle’s dividend payout ratio is currently 43.13%.

Analyst Upgrades and Downgrades

Several research firms have commented on ORCL. JMP Securities reiterated a “market perform” rating on shares of Oracle in a report on Tuesday, June 11th. UBS Group boosted their target price on shares of Oracle from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Guggenheim reissued a “buy” rating and issued a $175.00 target price on shares of Oracle in a research report on Tuesday, June 25th. Piper Sandler reissued an “overweight” rating and issued a $150.00 target price on shares of Oracle in a research report on Friday, July 12th. Finally, Sanford C. Bernstein boosted their target price on shares of Oracle from $159.00 to $171.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have given 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.

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.