Montecito Bank & Trust Grows Stock Position in Oracle Co. (NYSE:ORCL)

Montecito Bank & Trust increased its stake in shares of Oracle Co. (NYSE:ORCL) by 18.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,710 shares of the enterprise software provider’s stock after purchasing an additional 1,515 shares during the quarter. Montecito Bank & Trust’s holdings in Oracle were worth $1,358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ORCL. Sunbeam Capital Management LLC purchased a new position in shares of Oracle during the 4th quarter worth approximately $30,000. Hurley Capital LLC acquired a new position in Oracle during the fourth quarter worth $33,000. Synergy Investment Management LLC acquired a new position in Oracle during the fourth quarter worth $34,000. Mpwm Advisory Solutions LLC purchased a new position in Oracle in the fourth quarter worth $36,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in Oracle in the fourth quarter valued at $36,000. 42.44% of the stock is currently owned by hedge funds and other institutional investors.

Oracle Price Performance

ORCL stock opened at $215.54 on Monday. The stock has a market capitalization of $602.86 billion, a price-to-earnings ratio of 52.70, a price-to-earnings-growth ratio of 3.46 and a beta of 1.32. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 5.65. Oracle Co. has a 52-week low of $118.86 and a 52-week high of $216.98. The stock’s fifty day simple moving average is $152.88 and its 200-day simple moving average is $160.31.

Oracle (NYSE:ORCL) last released its earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.06. The firm had revenue of $15.90 billion for the quarter, compared to the consensus estimate of $15.58 billion. Oracle had a return on equity of 133.25% and a net margin of 21.16%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.63 earnings per share. Equities research analysts expect that Oracle Co. will post 5 EPS for the current year.

Oracle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, July 10th. Oracle’s dividend payout ratio is currently 46.08%.

Insider Buying and Selling at Oracle

In other news, Vice Chairman Jeffrey Henley sold 400,000 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $190.42, for a total transaction of $76,168,000.00. Following the completion of the sale, the insider now owns 1,097,576 shares in the company, valued at approximately $209,000,421.92. The trade was a 26.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Naomi O. Seligman sold 2,000 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $145.81, for a total transaction of $291,620.00. Following the sale, the director now directly owns 34,630 shares of the company’s stock, valued at approximately $5,049,400.30. This trade represents a 5.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 427,366 shares of company stock worth $80,183,723 in the last quarter. 42.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ORCL shares. CIBC restated a “buy” rating on shares of Oracle in a research report on Monday, June 9th. Monness Crespi & Hardt upgraded shares of Oracle from a “sell” rating to a “neutral” rating in a research report on Monday, March 3rd. Cantor Fitzgerald reduced their price target on shares of Oracle from $214.00 to $175.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. Guggenheim reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Oracle in a research note on Thursday. Finally, The Goldman Sachs Group lifted their price objective on Oracle from $145.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday. Twelve investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Oracle has an average rating of “Moderate Buy” and a consensus price target of $194.32.

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.