Bangor Savings Bank Cuts Stock Position in Oracle Co. (NYSE:ORCL)

Bangor Savings Bank cut its stake in Oracle Co. (NYSE:ORCL) by 37.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,470 shares of the enterprise software provider’s stock after selling 886 shares during the period. Bangor Savings Bank’s holdings in Oracle were worth $185,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Orion Capital Management LLC purchased a new position in shares of Oracle during the 3rd quarter valued at approximately $25,000. Spartan Planning & Wealth Management purchased a new stake in Oracle in the 3rd quarter worth $27,000. Tidemark LLC purchased a new stake in Oracle in the 4th quarter worth $29,000. Frank Rimerman Advisors LLC purchased a new stake in Oracle in the 4th quarter worth $30,000. Finally, Alaska Permanent Fund Corp purchased a new stake in Oracle in the 1st quarter worth $36,000. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Oracle Price Performance

Oracle stock opened at $141.50 on Monday. Oracle Co. has a one year low of $99.26 and a one year high of $145.32. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.71. The business has a fifty day moving average of $123.07 and a two-hundred day moving average of $117.11. The company has a market cap of $388.91 billion, a P/E ratio of 38.14, a price-to-earnings-growth ratio of 2.59 and a beta of 1.01.

Oracle (NYSE:ORCL) last released 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). 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 analyst estimates of $14.57 billion. During the same period last year, the business posted $1.35 EPS. Oracle’s revenue was up 3.3% compared to the same quarter last year. As a group, analysts predict that Oracle Co. will post 5.01 earnings per share for the current fiscal year.

Oracle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Thursday, July 11th. Oracle’s dividend payout ratio is currently 43.13%.

Insider Buying and Selling

In other Oracle news, CEO Safra Catz sold 790,000 shares of Oracle stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $126.54, for a total value of $99,966,600.00. Following the completion of the sale, the chief executive officer now owns 1,118,592 shares in the company, valued at approximately $141,546,631.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Michael J. Boskin sold 45,000 shares of Oracle stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $117.74, for a total value of $5,298,300.00. Following the transaction, the director now directly owns 87,473 shares of the company’s stock, valued at approximately $10,299,071.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Safra Catz sold 790,000 shares of Oracle stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $126.54, for a total value of $99,966,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,118,592 shares in the company, valued at $141,546,631.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 880,000 shares of company stock worth $110,488,150. 42.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on ORCL. The Goldman Sachs Group boosted their price target on shares of Oracle from $115.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Stifel Nicolaus upped their target price on shares of Oracle from $120.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, June 12th. HSBC upped their target price on shares of Oracle from $144.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. BMO Capital Markets upped their target price on shares of Oracle from $142.00 to $160.00 and gave the stock a “market perform” rating in a report on Monday, June 17th. Finally, William Blair raised shares of Oracle from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 12th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Oracle currently has a consensus rating of “Moderate Buy” and an average target price of $144.79.

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.