First Allied Advisory Services Inc. decreased its position in Oracle Co. (NYSE:ORCL) by 21.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,198 shares of the enterprise software provider’s stock after selling 20,862 shares during the period. First Allied Advisory Services Inc.’s holdings in Oracle were worth $3,593,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in ORCL. Vanguard Group Inc. grew its stake in Oracle by 2.6% during the second quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock worth $10,350,996,000 after buying an additional 5,270,359 shares during the period. BlackRock Inc. raised its holdings in Oracle by 2.5% in the second quarter. BlackRock Inc. now owns 193,791,492 shares of the enterprise software provider’s stock valued at $9,716,707,000 after acquiring an additional 4,678,977 shares in the last quarter. Harris Associates L P raised its holdings in Oracle by 17.9% in the second quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock valued at $2,456,319,000 after acquiring an additional 7,427,501 shares in the last quarter. Northern Trust Corp raised its holdings in Oracle by 4.6% in the second quarter. Northern Trust Corp now owns 42,098,104 shares of the enterprise software provider’s stock valued at $2,110,799,000 after acquiring an additional 1,835,835 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in Oracle by 1.2% in the second quarter. First Eagle Investment Management LLC now owns 41,717,395 shares of the enterprise software provider’s stock valued at $2,091,710,000 after acquiring an additional 482,220 shares in the last quarter. Institutional investors own 57.77% of the company’s stock.
A number of brokerages have weighed in on ORCL. JPMorgan Chase & Co. set a $55.00 target price on shares of Oracle and gave the stock a “buy” rating in a report on Monday, December 18th. Nomura initiated coverage on shares of Oracle in a report on Tuesday, January 23rd. They issued a “buy” rating and a $64.00 price objective on the stock. Vetr raised shares of Oracle from a “hold” rating to a “buy” rating and set a $51.77 price objective on the stock in a report on Monday, February 5th. Royal Bank of Canada set a $51.00 target price on shares of Oracle and gave the company a “neutral” rating in a research report on Monday, January 22nd. Finally, Instinet initiated coverage on shares of Oracle in a research report on Wednesday, January 24th. They issued a “buy” rating and a $51.12 target price for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirty have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $55.39.
Oracle (NYSE:ORCL) last issued its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The business had revenue of $9.63 billion during the quarter, compared to analyst estimates of $9.57 billion. Oracle had a return on equity of 20.49% and a net margin of 25.48%. Oracle’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.61 EPS. sell-side analysts expect that Oracle Co. will post 2.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Tuesday, January 9th. Oracle’s dividend payout ratio is currently 32.62%.
Oracle announced that its board has authorized a stock repurchase plan 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 purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $48.40, for a total value of $181,500.00. Following the transaction, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $877,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas Kurian sold 1,700,000 shares of the stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $50.29, for a total value of $85,493,000.00. Following the sale, the insider now directly owns 1,522,983 shares in the company, valued at $76,590,815.07. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,952,500 shares of company stock worth $98,130,250. Company insiders own 29.00% of the company’s stock.
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Oracle Company Profile
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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