Corundum Group Inc. Trims Position in Oracle Co. (NYSE:ORCL)

Corundum Group Inc. lessened its holdings in shares of Oracle Co. (NYSE:ORCL) by 41.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,701 shares of the enterprise software provider’s stock after selling 6,190 shares during the quarter. Oracle makes up about 0.7% of Corundum Group Inc.’s investment portfolio, making the stock its 28th biggest position. Corundum Group Inc.’s holdings in Oracle were worth $1,483,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Eagle Rock Investment Company LLC lifted its stake in shares of Oracle by 0.4% in the 3rd quarter. Eagle Rock Investment Company LLC now owns 17,626 shares of the enterprise software provider’s stock valued at $3,003,000 after purchasing an additional 64 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Oracle by 1.7% in the 3rd quarter. Versant Capital Management Inc now owns 3,957 shares of the enterprise software provider’s stock valued at $674,000 after purchasing an additional 65 shares during the last quarter. Trust Point Inc. lifted its position in Oracle by 0.5% during the 3rd quarter. Trust Point Inc. now owns 13,606 shares of the enterprise software provider’s stock worth $2,318,000 after acquiring an additional 66 shares during the last quarter. First International Bank & Trust lifted its position in Oracle by 1.8% during the 3rd quarter. First International Bank & Trust now owns 3,734 shares of the enterprise software provider’s stock worth $636,000 after acquiring an additional 67 shares during the last quarter. Finally, Adirondack Trust Co. lifted its position in Oracle by 0.8% during the 3rd quarter. Adirondack Trust Co. now owns 8,636 shares of the enterprise software provider’s stock worth $1,472,000 after acquiring an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Insider Buying and Selling

In related news, EVP Maria Smith sold 6,320 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $165.00, for a total value of $1,042,800.00. Following the transaction, the executive vice president now directly owns 42,889 shares in the company, valued at $7,076,685. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 42.20% of the company’s stock.

Oracle Stock Performance

NYSE:ORCL opened at $174.69 on Monday. The stock has a market capitalization of $484.08 billion, a P/E ratio of 45.02, a price-to-earnings-growth ratio of 3.25 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 Co. has a 1 year low of $99.26 and a 1 year high of $178.61. The firm has a 50 day moving average of $156.29 and a 200-day moving average of $138.67.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Monday, September 9th. The enterprise software provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.06. Oracle had a return on equity of 171.38% and a net margin of 20.40%. The firm had revenue of $13.31 billion during the quarter, compared to the consensus estimate of $13.23 billion. During the same quarter in the previous year, the company posted $0.95 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Oracle Co. will post 5 EPS for the current fiscal year.

Oracle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. Oracle’s payout ratio is 41.24%.

Analysts Set New Price Targets

A number of research firms have weighed in on ORCL. BMO Capital Markets boosted their target price on shares of Oracle from $160.00 to $173.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 10th. Bank of America boosted their target price on shares of Oracle from $155.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Melius Research raised shares of Oracle from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. Melius raised shares of Oracle from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research report on Monday, September 16th. Finally, Guggenheim boosted their target price on shares of Oracle from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $168.67.

Oracle Company 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.