M&T Bank Corp Has $72.86 Million Stock Position in Oracle Co. (NYSE:ORCL)

Financial News Live · Aug 6, 2022 01:41

M&T Bank Corp grew its position in Oracle Co. (NYSE:ORCL – Get Rating) by 0.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 880,646 shares of the enterprise software provider's stock after buying an additional 2,931 shares during the quarter. M&T Bank Corp's holdings in Oracle were worth $72,857,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Rational Advisors LLC boosted its holdings in shares of Oracle by 1.1% in the fourth quarter. Rational Advisors LLC now owns 11,083 shares of the enterprise software provider's stock worth $967,000 after buying an additional 126 shares during the period. Regal Investment Advisors LLC boosted its holdings in shares of Oracle by 1.4% during the fourth quarter. Regal Investment Advisors LLC now owns 8,964 shares of the enterprise software provider's stock worth $782,000 after purchasing an additional 126 shares during the period. Ferguson Wellman Capital Management Inc. boosted its holdings in shares of Oracle by 2.6% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 5,041 shares of the enterprise software provider's stock worth $417,000 after purchasing an additional 126 shares during the period. Smith Moore & CO. boosted its holdings in shares of Oracle by 1.0% during the fourth quarter. Smith Moore & CO. now owns 13,075 shares of the enterprise software provider's stock worth $1,140,000 after purchasing an additional 135 shares during the period. Finally, Dividend Assets Capital LLC boosted its holdings in shares of Oracle by 14.0% during the first quarter. Dividend Assets Capital LLC now owns 1,125 shares of the enterprise software provider's stock worth $93,000 after purchasing an additional 138 shares during the period. 42.33% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several research firms recently commented on ORCL. Deutsche Bank Aktiengesellschaft set a $110.00 price target on shares of Oracle in a report on Monday, June 20th. Monness Crespi & Hardt reduced their target price on shares of Oracle from $126.00 to $113.00 and set a "buy" rating for the company in a research note on Tuesday, June 14th. JPMorgan Chase & Co. set a $82.00 target price on shares of Oracle in a research note on Thursday, June 16th. Jefferies Financial Group lifted their target price on shares of Oracle from $75.00 to $80.00 in a research note on Tuesday, June 14th. Finally, The Goldman Sachs Group reissued a "sell" rating and issued a $75.00 price target on shares of Oracle in a research report on Monday, June 27th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Oracle presently has an average rating of "Hold" and an average price target of $88.95.

Oracle Stock Down 0.9 %

Shares of NYSE ORCL traded down $0.68 during trading hours on Friday, hitting $76.72. The company had a trading volume of 63,154 shares, compared to its average volume of 6,056,120. The firm's 50 day moving average is $71.61 and its 200-day moving average is $75.63. Oracle Co. has a 1-year low of $63.76 and a 1-year high of $106.34. The stock has a market capitalization of $204.45 billion, a P/E ratio of 32.25, a price-to-earnings-growth ratio of 2.18 and a beta of 0.87.

Oracle (NYSE:ORCL – Get Rating) last posted its quarterly earnings data on Monday, June 13th. The enterprise software provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.14. Oracle had a negative return on equity of 193.58% and a net margin of 15.83%. The firm had revenue of $11.84 billion for the quarter, compared to analysts' expectations of $11.65 billion. During the same quarter last year, the business earned $1.40 EPS. The company's quarterly revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts predict that Oracle Co. will post 4.43 earnings per share for the current year.

Oracle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 26th. Stockholders of record on Tuesday, July 12th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Monday, July 11th. Oracle's payout ratio is 53.33%.

Insider Activity

In other Oracle news, insider Edward Screven sold 419,174 shares of Oracle stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $69.22, for a total value of $29,015,224.28. Following the completion of the sale, the insider now directly owns 2,492,613 shares in the company, valued at $172,538,671.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Oracle news, CEO Safra Catz sold 980,000 shares of the business's stock in a transaction on Friday, June 24th. The stock was sold at an average price of $69.80, for a total value of $68,404,000.00. Following the transaction, the chief executive officer now owns 1,118,592 shares of the company's stock, valued at $78,077,721.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Edward Screven sold 419,174 shares of the business's stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $69.22, for a total value of $29,015,224.28. Following the completion of the transaction, the insider now directly owns 2,492,613 shares in the company, valued at approximately $172,538,671.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,399,174 shares of company stock valued at $232,369,224. 39.10% of the stock is currently owned by corporate insiders.

Oracle Company Profile

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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 Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.

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