Argyle Capital Management Inc. trimmed its holdings in Oracle Corporation (NYSE:ORCL) by 5.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,530 shares of the enterprise software provider’s stock after selling 2,500 shares during the period. Argyle Capital Management Inc.’s holdings in Oracle were worth $1,960,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the business. Keel Point LLC lifted its stake in shares of Oracle by 0.3% in the second quarter. Keel Point LLC now owns 5,349 shares of the enterprise software provider’s stock valued at $268,000 after buying an additional 14 shares in the last quarter. Joel Isaacson & Co. LLC lifted its position in shares of Oracle by 0.3% during the second quarter. Joel Isaacson & Co. LLC now owns 8,197 shares of the enterprise software provider’s stock valued at $411,000 after purchasing an additional 24 shares in the last quarter. Flagship Harbor Advisors LLC lifted its position in shares of Oracle by 0.4% during the second quarter. Flagship Harbor Advisors LLC now owns 8,110 shares of the enterprise software provider’s stock valued at $404,000 after purchasing an additional 35 shares in the last quarter. Partnervest Advisory Services LLC lifted its position in shares of Oracle by 0.6% during the second quarter. Partnervest Advisory Services LLC now owns 6,731 shares of the enterprise software provider’s stock valued at $337,000 after purchasing an additional 39 shares in the last quarter. Finally, Klingenstein Fields & Co. LLC lifted its position in shares of Oracle by 0.9% during the second quarter. Klingenstein Fields & Co. LLC now owns 6,679 shares of the enterprise software provider’s stock valued at $335,000 after purchasing an additional 62 shares in the last quarter. 57.89% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. Jefferies Group raised their price target on shares of Oracle from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, September 15th. Oppenheimer reissued a “hold” rating on shares of Oracle in a research report on Friday, December 15th. Credit Suisse Group assumed coverage on shares of Oracle in a research report on Tuesday, September 5th. They set an “outperform” rating and a $62.00 price target on the stock. Zacks Investment Research lowered shares of Oracle from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Finally, Vetr raised shares of Oracle from a “buy” rating to a “strong-buy” rating and set a $55.49 price target on the stock in a research report on Monday, November 13th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Oracle presently has a consensus rating of “Buy” and an average price target of $55.26.
Oracle (NYSE:ORCL) last posted its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.02. The company had revenue of $9.63 billion during the quarter, compared to analyst estimates of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.61 EPS. equities analysts anticipate that Oracle Corporation will post 2.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, January 9th. Oracle’s payout ratio is currently 32.62%.
Oracle announced that its board has authorized a share buyback program on Thursday, December 14th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the enterprise software provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
In other Oracle news, EVP Dorian Daley sold 100,000 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the transaction, the executive vice president now directly owns 136,954 shares of the company’s stock, valued at approximately $6,517,640.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director George H. Conrades sold 11,250 shares of the company’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $48.10, for a total transaction of $541,125.00. Following the completion of the sale, the director now directly owns 10,000 shares in the company, valued at $481,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 278,750 shares of company stock worth $13,459,738. Insiders own 29.00% of the company’s stock.
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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