Fairhaven Wealth Management LLC Decreases Stock Position in Oracle Co. (NYSE:ORCL)

Fairhaven Wealth Management LLC decreased its position in shares of Oracle Co. (NYSE:ORCL) by 3.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,460 shares of the enterprise software provider’s stock after selling 1,513 shares during the period. Oracle comprises approximately 1.9% of Fairhaven Wealth Management LLC’s holdings, making the stock its 12th biggest holding. Fairhaven Wealth Management LLC’s holdings in Oracle were worth $5,585,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Scotia Capital Inc. raised its holdings in Oracle by 21.2% in the third quarter. Scotia Capital Inc. now owns 163,966 shares of the enterprise software provider’s stock valued at $17,369,000 after acquiring an additional 28,654 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in Oracle by 2.7% in the third quarter. Royal London Asset Management Ltd. now owns 629,439 shares of the enterprise software provider’s stock valued at $66,699,000 after buying an additional 16,792 shares during the last quarter. Cito Capital Group LLC increased its holdings in Oracle by 4.2% in the third quarter. Cito Capital Group LLC now owns 14,930 shares of the enterprise software provider’s stock valued at $1,581,000 after buying an additional 605 shares during the last quarter. Crestwood Advisors Group LLC raised its stake in Oracle by 351.7% during the third quarter. Crestwood Advisors Group LLC now owns 173,925 shares of the enterprise software provider’s stock valued at $18,422,000 after buying an additional 135,420 shares in the last quarter. Finally, Tenere Capital LLC bought a new position in Oracle during the 3rd quarter worth approximately $9,639,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Oracle Price Performance

NYSE ORCL traded up $0.45 during trading on Friday, reaching $144.83. 5,365,527 shares of the company traded hands, compared to its average volume of 11,322,026. Oracle Co. has a 1-year low of $99.26 and a 1-year high of $145.79. The company has a market cap of $399.13 billion, a price-to-earnings ratio of 39.04, a P/E/G ratio of 2.62 and a beta of 1.02. The stock’s 50 day moving average price is $128.09 and its two-hundred day moving average price is $119.40. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.72 and a current ratio of 0.71.

Oracle (NYSE:ORCL) last posted its earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.02). The company had revenue of $14.29 billion for 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%. Oracle’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.35 EPS. As a group, analysts anticipate that Oracle Co. will post 5.01 EPS for the current year.

Oracle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.10%. Oracle’s dividend payout ratio (DPR) is presently 43.13%.

Analyst Ratings Changes

A number of research firms have commented on ORCL. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Oracle from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Citigroup decreased their price target on shares of Oracle from $133.00 to $128.00 and set a “neutral” rating for the company in a report on Monday, June 10th. Evercore ISI increased their price objective on shares of Oracle from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th. BMO Capital Markets lifted their target price on Oracle from $142.00 to $160.00 and gave the company a “market perform” rating in a research note on Monday, June 17th. Finally, The Goldman Sachs Group lifted their price objective on shares of Oracle from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. Fourteen analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.83.

Insider Activity

In other Oracle news, Director George H. Conrades sold 25,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $116.13, for a total transaction of $2,903,250.00. Following the sale, the director now owns 17,836 shares of the company’s stock, valued at approximately $2,071,294.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Edward Screven sold 235,918 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $144.30, for a total value of $34,042,967.40. Following the transaction, the insider now owns 2,626,764 shares in the company, valued at $379,042,045.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George H. Conrades sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $116.13, for a total transaction of $2,903,250.00. Following the sale, the director now directly owns 17,836 shares of the company’s stock, valued at $2,071,294.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 385,639 shares of company stock worth $53,002,729. 42.80% of the stock is owned by corporate insiders.

About Oracle

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.