RNC Capital Management LLC lessened its stake in shares of Oracle Co. (NYSE:ORCL) by 1.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 137,420 shares of the enterprise software provider’s stock after selling 2,145 shares during the period. RNC Capital Management LLC’s holdings in Oracle were worth $6,497,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in ORCL. Acrospire Investment Management LLC increased its stake in Oracle by 947.4% in the second quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after purchasing an additional 1,800 shares during the period. Burt Wealth Advisors increased its stake in shares of Oracle by 4.3% during the second quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after buying an additional 88 shares during the period. Wealthcare Advisory Partners LLC increased its stake in shares of Oracle by 81,200.0% during the third quarter. Wealthcare Advisory Partners LLC now owns 2,439 shares of the enterprise software provider’s stock valued at $118,000 after buying an additional 2,436 shares during the period. ETF Managers Group LLC purchased a new position in shares of Oracle during the second quarter valued at $133,000. Finally, Monroe Bank & Trust MI increased its stake in shares of Oracle by 30.5% during the second quarter. Monroe Bank & Trust MI now owns 2,885 shares of the enterprise software provider’s stock valued at $144,000 after buying an additional 675 shares during the period. Institutional investors and hedge funds own 58.36% of the company’s stock.
Shares of Oracle Co. (NYSE ORCL) opened at $49.43 on Thursday. The company has a quick ratio of 5.04, a current ratio of 5.07 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $204,620.00, a PE ratio of 21.21, a price-to-earnings-growth ratio of 1.93 and a beta of 1.08. Oracle Co. has a twelve month low of $42.13 and a twelve month high of $53.14.
Oracle announced that its board has approved a share buyback program on Thursday, December 14th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the enterprise software provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Tuesday, January 9th. Oracle’s dividend payout ratio is presently 32.62%.
In related news, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $49.72, for a total transaction of $186,450.00. Following the completion of the sale, the director now owns 18,125 shares of the company’s stock, valued at $901,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dorian Daley sold 100,000 shares of Oracle stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $47.59, for a total value of $4,759,000.00. Following the sale, the executive vice president now directly owns 136,954 shares of the company’s stock, valued at approximately $6,517,640.86. The disclosure for this sale can be found here. In the last three months, insiders sold 1,956,250 shares of company stock valued at $98,316,475. Corporate insiders own 29.00% of the company’s stock.
Several equities analysts have recently commented on ORCL shares. Zacks Investment Research upgraded Oracle from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Wednesday, November 15th. UBS Group restated a “neutral” rating and set a $55.00 price target (down previously from $57.00) on shares of Oracle in a research note on Thursday, November 9th. Vetr lowered Oracle from a “strong-buy” rating to a “buy” rating and set a $51.82 price target on the stock. in a research note on Monday, November 20th. BidaskClub upgraded Oracle from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 27th. Finally, Royal Bank of Canada set a $53.00 price target on Oracle and gave the company a “buy” rating in a research note on Tuesday, December 12th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-nine have given a buy rating to the company’s stock. Oracle has a consensus rating of “Buy” and an average price target of $55.38.
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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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