Chesapeake Wealth Management Cuts Position in Oracle Co. (NYSE:ORCL)

Chesapeake Wealth Management trimmed its position in shares of Oracle Co. (NYSE:ORCL) by 3.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,761 shares of the enterprise software provider’s stock after selling 605 shares during the period. Chesapeake Wealth Management’s holdings in Oracle were worth $2,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Fairway Wealth LLC bought a new stake in Oracle in the second quarter worth $27,000. Westend Capital Management LLC bought a new stake in shares of Oracle in the 1st quarter worth about $25,000. POM Investment Strategies LLC purchased a new stake in shares of Oracle during the 2nd quarter valued at about $30,000. Bbjs Financial Advisors LLC bought a new position in shares of Oracle in the 2nd quarter valued at about $35,000. Finally, Tidemark LLC purchased a new position in Oracle in the fourth quarter worth about $29,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Oracle Price Performance

ORCL opened at $167.96 on Friday. Oracle Co. has a 12-month low of $99.26 and a 12-month high of $173.99. The business’s fifty day simple moving average is $142.30 and its 200-day simple moving average is $131.81. The company has a market capitalization of $465.41 billion, a price-to-earnings ratio of 45.27, a PEG ratio of 3.21 and a beta of 1.01. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 6.68.

Oracle (NYSE:ORCL) last posted its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. Oracle had a net margin of 20.40% and a return on equity of 171.38%. The business had revenue of $13.31 billion for the quarter, compared to the consensus estimate of $13.23 billion. During the same quarter last year, the firm posted $0.95 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts anticipate that Oracle Co. will post 5.01 earnings per share for the current fiscal year.

Oracle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Thursday, October 10th. Oracle’s dividend payout ratio (DPR) is 43.13%.

Insiders Place Their Bets

In other news, EVP Maria Smith sold 6,320 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the transaction, the executive vice president now directly owns 42,889 shares of the company’s stock, valued at approximately $7,076,685. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Edward Screven sold 426,861 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $141.91, for a total transaction of $60,575,844.51. Following the sale, the insider now owns 2,626,764 shares in the company, valued at $372,764,079.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Maria Smith sold 6,320 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $165.00, for a total transaction of $1,042,800.00. Following the transaction, the executive vice president now owns 42,889 shares in the company, valued at approximately $7,076,685. The disclosure for this sale can be found here. Insiders sold a total of 1,610,402 shares of company stock worth $230,556,257 over the last 90 days. Company insiders own 42.80% of the company’s stock.

Analysts Set New Price Targets

ORCL has been the topic of a number of recent research reports. BMO Capital Markets upped their price objective on Oracle from $160.00 to $173.00 and gave the company a “market perform” rating in a research report on Tuesday, September 10th. JMP Securities raised Oracle from a “market perform” rating to an “outperform” rating and set a $175.00 target price on the stock in a research report on Tuesday, September 10th. Jefferies Financial Group raised their price target on Oracle from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Mizuho boosted their price objective on shares of Oracle from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, Guggenheim increased their target price on shares of Oracle from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Eleven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

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.