Zevin Asset Management LLC Reduces Stock Position in Oracle Co. (NYSE:ORCL)

Zevin Asset Management LLC lowered its position in shares of Oracle Co. (NYSE:ORCL) by 15.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,910 shares of the enterprise software provider’s stock after selling 3,892 shares during the period. Zevin Asset Management LLC’s holdings in Oracle were worth $1,206,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ORCL. Neville Rodie & Shaw Inc. increased its stake in Oracle by 1.2% during the 2nd quarter. Neville Rodie & Shaw Inc. now owns 176,654 shares of the enterprise software provider’s stock valued at $10,064,000 after purchasing an additional 2,169 shares in the last quarter. Thomasville National Bank boosted its holdings in shares of Oracle by 1.5% during the 2nd quarter. Thomasville National Bank now owns 20,351 shares of the enterprise software provider’s stock valued at $1,160,000 after acquiring an additional 300 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Oracle by 2.0% in the second quarter. Private Trust Co. NA now owns 22,626 shares of the enterprise software provider’s stock worth $1,289,000 after buying an additional 435 shares during the last quarter. Baystate Wealth Management LLC boosted its holdings in shares of Oracle by 56.8% in the second quarter. Baystate Wealth Management LLC now owns 4,987 shares of the enterprise software provider’s stock worth $289,000 after buying an additional 1,806 shares during the last quarter. Finally, Rockland Trust Co. boosted its holdings in shares of Oracle by 2.6% in the second quarter. Rockland Trust Co. now owns 8,262 shares of the enterprise software provider’s stock worth $471,000 after buying an additional 209 shares during the last quarter. Institutional investors and hedge funds own 53.90% of the company’s stock.

In related news, Director Renee Jo James sold 3,000 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $53.56, for a total value of $160,680.00. Following the completion of the sale, the director now directly owns 32,886 shares of the company’s stock, valued at approximately $1,761,374.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark V. Hurd sold 787,500 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $51.80, for a total value of $40,792,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,038,755 shares of the company’s stock, valued at $53,807,509. The disclosure for this sale can be found here. Insiders sold 849,786 shares of company stock worth $44,213,156 over the last ninety days. 36.60% of the stock is owned by corporate insiders.

Shares of NYSE:ORCL traded up $0.51 during trading on Friday, reaching $56.49. 5,708,292 shares of the stock were exchanged, compared to its average volume of 9,699,096. The company has a debt-to-equity ratio of 2.67, a quick ratio of 2.25 and a current ratio of 2.25. Oracle Co. has a 12-month low of $42.40 and a 12-month high of $60.50. The firm has a market cap of $182.74 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 1.65 and a beta of 1.16. The firm’s 50-day moving average price is $54.79 and its 200 day moving average price is $54.81.

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Oracle (NYSE:ORCL) last released its quarterly earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.09. The firm had revenue of $9.22 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Oracle had a return on equity of 48.85% and a net margin of 27.71%. Oracle’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 EPS. As a group, equities research analysts forecast that Oracle Co. will post 3.47 EPS for the current year.

Oracle announced that its board has authorized a share buyback program on Wednesday, September 11th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the enterprise software provider to repurchase up to 8.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Wednesday, October 9th. Oracle’s dividend payout ratio is presently 30.38%.

A number of brokerages recently issued reports on ORCL. Credit Suisse Group set a $62.00 price target on shares of Oracle and gave the stock a “buy” rating in a report on Tuesday, September 24th. Goldman Sachs Group set a $62.00 price objective on shares of Oracle and gave the stock a “buy” rating in a research report on Friday, September 20th. Royal Bank of Canada set a $57.00 price objective on shares of Oracle and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Wedbush reaffirmed a “neutral” rating and set a $55.00 target price on shares of Oracle in a research note on Friday, September 13th. Finally, ValuEngine lowered shares of Oracle from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $56.80.

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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