Independence Bank of Kentucky Has $1.38 Million Holdings in Oracle Co. (NYSE:ORCL)

Independence Bank of Kentucky lessened its stake in Oracle Co. (NYSE:ORCL) by 10.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,979 shares of the enterprise software provider’s stock after selling 1,261 shares during the quarter. Independence Bank of Kentucky’s holdings in Oracle were worth $1,379,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Orion Capital Management LLC acquired a new position in Oracle during the third quarter worth $25,000. Westend Capital Management LLC acquired a new position in Oracle during the first quarter worth $25,000. Spartan Planning & Wealth Management acquired a new stake in Oracle in the third quarter valued at $27,000. Tidemark LLC acquired a new stake in Oracle in the fourth quarter valued at $29,000. Finally, Nordwand Advisors LLC acquired a new stake in Oracle in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 42.44% of the company’s stock.

Oracle Trading Up 0.7 %

Shares of NYSE ORCL traded up $1.02 during midday trading on Friday, reaching $141.20. The stock had a trading volume of 25,814,821 shares, compared to its average volume of 11,264,646. The firm has a market cap of $389.13 billion, a price-to-earnings ratio of 38.06, a price-to-earnings-growth ratio of 2.54 and a beta of 1.01. Oracle Co. has a twelve month low of $99.26 and a twelve month high of $145.32. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.72 and a current ratio of 0.71. The company’s 50 day moving average price is $125.24 and its 200 day moving average price is $117.96.

Oracle (NYSE:ORCL) last issued its quarterly earnings results on Tuesday, June 11th. The enterprise software provider reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.02). The firm had revenue of $14.29 billion during the quarter, compared to analyst estimates of $14.57 billion. Oracle had a return on equity of 223.01% and a net margin of 19.76%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.35 EPS. As a group, sell-side analysts expect that Oracle Co. will post 5.01 EPS for the current year.

Oracle Dividend Announcement

The business also recently disclosed 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 is Thursday, July 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.13%. Oracle’s dividend payout ratio is currently 43.13%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ORCL. Oppenheimer began coverage on shares of Oracle in a research report on Thursday, April 18th. They issued a “market perform” rating on the stock. JMP Securities reissued a “market perform” rating on shares of Oracle in a research report on Tuesday, June 11th. KeyCorp increased their price objective on shares of Oracle from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, June 12th. Morgan Stanley reissued an “equal weight” rating and issued a $125.00 price objective on shares of Oracle in a research report on Tuesday. Finally, William Blair raised shares of Oracle from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 12th. Fourteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Oracle has a consensus rating of “Moderate Buy” and a consensus price target of $145.83.

Insider Activity

In other news, insider Edward Screven sold 235,918 shares of Oracle stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $144.30, for a total value of $34,042,967.40. Following the completion of the sale, the insider now owns 2,626,764 shares in the company, valued at approximately $379,042,045.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Oracle news, insider Edward Screven sold 235,918 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were 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 in the company, valued at approximately $379,042,045.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George H. Conrades sold 20,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $116.00, for a total transaction of $2,320,000.00. Following the sale, the director now owns 17,836 shares of the company’s stock, valued at approximately $2,068,976. The disclosure for this sale can be found here. Insiders sold 385,639 shares of company stock worth $53,002,729 in the last quarter. 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.