Oracle Co. (NYSE:ORCL) is Camden National Bank's 6th Largest Position

Camden National Bank reduced its stake in shares of Oracle Co. (NYSE:ORCL - Free Report) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,384 shares of the enterprise software provider's stock after selling 2,623 shares during the quarter. Oracle comprises approximately 2.3% of Camden National Bank's portfolio, making the stock its 6th largest holding. Camden National Bank's holdings in Oracle were worth $16,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of ORCL. Fairway Wealth LLC purchased a new position in shares of Oracle during the second quarter worth approximately $27,000. POM Investment Strategies LLC acquired a new position in Oracle in the second quarter valued at $30,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Oracle in the second quarter valued at about $35,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of Oracle during the first quarter worth about $38,000. Finally, Quest Partners LLC purchased a new position in shares of Oracle during the second quarter worth about $40,000. 42.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Mizuho upped their price objective on Oracle from $170.00 to $185.00 and gave the company an "outperform" rating in a research note on Tuesday, September 10th. Melius Research upgraded Oracle from a "hold" rating to a "buy" rating in a research note on Monday, September 16th. DA Davidson lifted their price objective on shares of Oracle from $105.00 to $140.00 and gave the company a "neutral" rating in a research report on Tuesday, September 10th. Sanford C. Bernstein boosted their price objective on shares of Oracle from $201.00 to $202.00 and gave the company an "outperform" rating in a research note on Monday, September 30th. Finally, Piper Sandler raised their target price on shares of Oracle from $150.00 to $175.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, Oracle currently has a consensus rating of "Moderate Buy" and a consensus price target of $169.52.

Oracle Price Performance

Shares of ORCL stock traded down $0.14 during trading hours on Friday, hitting $192.29. The company's stock had a trading volume of 6,879,447 shares, compared to its average volume of 6,824,324. 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 twelve month low of $99.26 and a twelve month high of $196.04. The stock has a market cap of $532.85 billion, a price-to-earnings ratio of 49.56, a P/E/G ratio of 3.55 and a beta of 1.02. The business has a fifty day moving average of $175.62 and a 200-day moving average of $149.41.

Oracle (NYSE:ORCL - Get Free Report) last announced its earnings results on Monday, September 9th. The enterprise software provider reported $1.39 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $13.23 billion. During the same quarter in the prior year, the firm earned $0.95 EPS. Oracle's quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts anticipate that Oracle Co. will post 5 EPS for the current year.

Oracle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Thursday, October 10th. Oracle's payout ratio is 41.24%.

Insider Buying and Selling at Oracle

In other Oracle news, EVP Maria Smith sold 6,320 shares of the business's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $165.00, for a total value of $1,042,800.00. Following the completion of the transaction, the executive vice president now directly owns 42,889 shares in the company, valued at approximately $7,076,685. The trade was a 12.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 42.20% of the stock is owned by insiders.

Oracle 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.