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

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Occidental Asset Management LLC trimmed its stake in Oracle Co. (NYSE:ORCL) by 5.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 12,259 shares of the enterprise software provider’s stock after selling 664 shares during the quarter. Occidental Asset Management LLC’s holdings in Oracle were worth $698,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Evolution Wealth Advisors LLC lifted its position in Oracle by 346.0% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 446 shares of the enterprise software provider’s stock valued at $25,000 after acquiring an additional 346 shares during the period. Investors Research Corp purchased a new position in Oracle during the 1st quarter valued at about $30,000. Covenant Multifamily Offices LLC purchased a new position in Oracle during the 1st quarter valued at about $35,000. Clarfeld Financial Advisors LLC purchased a new position in Oracle during the 4th quarter valued at about $39,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in Oracle during the 2nd quarter valued at about $40,000. 54.23% of the stock is owned by hedge funds and other institutional investors.

Shares of ORCL traded up $0.16 on Thursday, reaching $52.48. The company’s stock had a trading volume of 7,517,649 shares, compared to its average volume of 10,297,502. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $177.57 billion, a PE ratio of 16.61, a P/E/G ratio of 1.55 and a beta of 1.15. The company’s 50 day moving average price is $57.26. Oracle Co. has a 12-month low of $42.40 and a 12-month high of $60.50.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Wednesday, June 19th. The enterprise software provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.18. Oracle had a net margin of 28.06% and a return on equity of 40.95%. The business had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $10.93 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, research analysts expect that Oracle Co. will post 3.5 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.83%. The ex-dividend date was Tuesday, July 16th. Oracle’s dividend payout ratio is currently 30.38%.

In other Oracle news, CEO Mark V. Hurd sold 787,500 shares of Oracle stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $56.29, for a total transaction of $44,328,375.00. Following the transaction, the chief executive officer now owns 874,871 shares of the company’s stock, valued at $49,246,488.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO W Corey West sold 50,000 shares of Oracle stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $56.25, for a total transaction of $2,812,500.00. Following the transaction, the chief accounting officer now directly owns 85,348 shares in the company, valued at approximately $4,800,825. The disclosure for this sale can be found here. Insiders have sold 1,352,500 shares of company stock worth $76,708,925 in the last ninety days. Insiders own 32.00% of the company’s stock.

ORCL has been the subject of a number of recent research reports. Macquarie cut shares of Oracle from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $56.00 to $55.00 in a research report on Tuesday, June 18th. They noted that the move was a valuation call. BMO Capital Markets reiterated a “market perform” rating and issued a $59.00 price target (up from $53.00) on shares of Oracle in a research note on Thursday, June 20th. Goldman Sachs Group reiterated a “buy” rating and issued a $58.00 price target on shares of Oracle in a research note on Thursday, June 20th. Wedbush reiterated a “neutral” rating and issued a $55.00 price target (down from $55.92) on shares of Oracle in a research note on Thursday, June 20th. Finally, Jefferies Financial Group lifted their price target on shares of Oracle from $61.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have issued a buy rating to the company. Oracle presently has a consensus rating of “Hold” and a consensus price target of $54.76.

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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