Patten & Patten Inc. TN Has $1.13 Million Position in Oracle Co. (NYSE:ORCL)

Patten & Patten Inc. TN raised its stake in Oracle Co. (NYSE:ORCL) by 13.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,018 shares of the enterprise software provider’s stock after acquiring an additional 1,096 shares during the quarter. Patten & Patten Inc. TN’s holdings in Oracle were worth $1,133,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Westend Capital Management LLC bought a new stake in Oracle in the first quarter worth approximately $25,000. Tidemark LLC acquired a new position in shares of Oracle during the 4th quarter valued at $29,000. Nordwand Advisors LLC bought a new position in Oracle during the fourth quarter worth $30,000. Frank Rimerman Advisors LLC acquired a new stake in Oracle in the fourth quarter worth $30,000. Finally, Alaska Permanent Fund Corp acquired a new position in shares of Oracle during the first quarter valued at about $36,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on ORCL shares. KeyCorp raised their target price on Oracle from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, June 12th. Bank of America raised their price objective on Oracle from $144.00 to $155.00 and gave the company a “neutral” rating in a research note on Wednesday, June 12th. Oppenheimer started coverage on Oracle in a research report on Thursday, April 18th. They set a “market perform” rating on the stock. TD Cowen boosted their price target on shares of Oracle from $145.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. Finally, StockNews.com downgraded shares of Oracle from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.83.

Oracle Stock Performance

Shares of NYSE:ORCL traded up $1.61 during midday trading on Monday, reaching $140.17. 5,308,424 shares of the company traded hands, compared to its average volume of 8,543,650. The firm’s fifty day moving average price is $133.18 and its two-hundred day moving average price is $122.16. The firm has a market capitalization of $386.29 billion, a price-to-earnings ratio of 37.82, a price-to-earnings-growth ratio of 2.51 and a beta of 1.02. 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 12 month low of $99.26 and a 12 month high of $146.59.

Oracle (NYSE:ORCL) last announced its quarterly 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 company had revenue of $14.29 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the prior year, the company earned $1.35 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities analysts expect that Oracle Co. will post 5.02 earnings per share for the current 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 issued a $0.40 dividend. The ex-dividend date is Thursday, July 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.14%. Oracle’s payout ratio is currently 43.13%.

Insiders Place Their Bets

In related news, Director George H. Conrades sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $116.00, for a total value of $2,320,000.00. Following the sale, the director now directly owns 17,836 shares of the company’s stock, valued at $2,068,976. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Oracle news, insider Edward Screven sold 235,918 shares of Oracle 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 completion of the sale, the insider now owns 2,626,764 shares of the company’s stock, valued at $379,042,045.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director George H. Conrades sold 20,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $116.00, for a total value of $2,320,000.00. Following the completion of the transaction, the director now owns 17,836 shares of the company’s stock, valued at $2,068,976. The disclosure for this sale can be found here. Insiders have sold 1,952,500 shares of company stock worth $277,298,174 in the last ninety days. 42.80% of the stock is currently owned by 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.