Chevy Chase Trust Holdings LLC Trims Holdings in Oracle Co. (NYSE:ORCL)

Chevy Chase Trust Holdings LLC reduced its stake in Oracle Co. (NYSE:ORCL) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 897,332 shares of the enterprise software provider’s stock after selling 14,401 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Oracle were worth $126,703,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ORCL. Werlinich Asset Management LLC grew its position in shares of Oracle by 3.1% during the 2nd quarter. Werlinich Asset Management LLC now owns 2,325 shares of the enterprise software provider’s stock valued at $326,000 after buying an additional 70 shares during the last quarter. ERn Financial LLC raised its position in shares of Oracle by 0.6% during the 2nd quarter. ERn Financial LLC now owns 12,911 shares of the enterprise software provider’s stock worth $1,823,000 after purchasing an additional 80 shares during the period. Abich Financial Wealth Management LLC lifted its holdings in shares of Oracle by 18.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 530 shares of the enterprise software provider’s stock worth $67,000 after purchasing an additional 81 shares during the last quarter. Hoxton Planning & Management LLC boosted its position in Oracle by 2.6% during the 2nd quarter. Hoxton Planning & Management LLC now owns 3,278 shares of the enterprise software provider’s stock valued at $463,000 after purchasing an additional 82 shares during the period. Finally, Invst LLC grew its stake in Oracle by 2.7% during the 4th quarter. Invst LLC now owns 3,299 shares of the enterprise software provider’s stock worth $380,000 after buying an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Insiders Place Their Bets

In related news, Director Leon E. Panetta sold 15,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $137.89, for a total transaction of $2,068,350.00. Following the transaction, the director now directly owns 58,090 shares in the company, valued at $8,010,030.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Oracle news, Director Leon E. Panetta sold 15,000 shares of Oracle stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $137.89, for a total transaction of $2,068,350.00. Following the sale, the director now owns 58,090 shares in the company, valued at $8,010,030.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $34,042,967.40. Following the transaction, the insider now directly owns 2,626,764 shares of the company’s stock, valued at $379,042,045.20. The disclosure for this sale can be found here. Insiders have sold 1,862,500 shares of company stock worth $266,776,624 in the last ninety days. Insiders own 42.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ORCL. Piper Sandler restated an “overweight” rating and set a $150.00 price target on shares of Oracle in a research report on Friday, July 12th. Morgan Stanley restated an “equal weight” rating and set a $125.00 price objective on shares of Oracle in a research note on Tuesday, June 25th. Mizuho increased their target price on shares of Oracle from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, June 17th. JPMorgan Chase & Co. upped their price target on shares of Oracle from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 12th. Finally, StockNews.com lowered shares of Oracle from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Fourteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $145.83.

Oracle Stock Performance

ORCL stock traded up $1.28 during midday trading on Tuesday, hitting $139.20. 3,737,884 shares of the company traded hands, compared to its average volume of 8,231,971. The business has a 50 day simple moving average of $138.66 and a 200-day simple moving average of $126.05. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 8.25. Oracle Co. has a twelve month low of $99.26 and a twelve month high of $146.59. The stock has a market capitalization of $383.62 billion, a price-to-earnings ratio of 37.52, a price-to-earnings-growth ratio of 2.45 and a beta of 1.02.

Oracle (NYSE:ORCL) last announced its earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the previous year, the company earned $1.35 EPS. Oracle’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts predict that Oracle Co. will post 5.02 earnings per share for the current year.

Oracle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Thursday, July 11th. Oracle’s dividend payout ratio (DPR) is presently 43.13%.

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.