Associated Banc Corp Cuts Position in Oracle Co. (ORCL)

Associated Banc Corp decreased its holdings in Oracle Co. (NYSE:ORCL) by 6.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 18,470 shares of the enterprise software provider’s stock after selling 1,347 shares during the period. Associated Banc Corp’s holdings in Oracle were worth $845,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Two Sigma Advisers LP raised its stake in shares of Oracle by 738.5% during the fourth quarter. Two Sigma Advisers LP now owns 588,484 shares of the enterprise software provider’s stock valued at $27,824,000 after purchasing an additional 518,300 shares during the period. Bank of Nova Scotia Trust Co. grew its position in shares of Oracle by 44.4% during the third quarter. Bank of Nova Scotia Trust Co. now owns 9,985 shares of the enterprise software provider’s stock worth $482,000 after buying an additional 3,071 shares in the last quarter. Allegis Investment Advisors LLC grew its position in shares of Oracle by 16.5% during the fourth quarter. Allegis Investment Advisors LLC now owns 51,031 shares of the enterprise software provider’s stock worth $2,413,000 after buying an additional 7,231 shares in the last quarter. Wasatch Advisors Inc. grew its position in shares of Oracle by 38.6% during the fourth quarter. Wasatch Advisors Inc. now owns 220,792 shares of the enterprise software provider’s stock worth $10,439,000 after buying an additional 61,530 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Oracle by 4.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 10,864,577 shares of the enterprise software provider’s stock worth $513,678,000 after buying an additional 463,760 shares in the last quarter. Hedge funds and other institutional investors own 57.79% of the company’s stock.

In related news, insider Thomas Kurian sold 979,402 shares of Oracle stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $45.40, for a total transaction of $44,464,850.80. Following the sale, the insider now directly owns 114,871 shares in the company, valued at $5,215,143.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $52.19, for a total transaction of $195,712.50. Following the sale, the director now owns 18,125 shares in the company, valued at $945,943.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,557,015 shares of company stock worth $117,480,315. Company insiders own 29.00% of the company’s stock.

ORCL stock opened at $46.32 on Friday. The company has a current ratio of 4.33, a quick ratio of 4.30 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $192.66 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 1.72 and a beta of 1.15. Oracle Co. has a 1 year low of $43.74 and a 1 year high of $53.48.

Oracle (NYSE:ORCL) last posted its earnings results on Monday, March 19th. The enterprise software provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. The company had revenue of $9.78 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Oracle had a return on equity of 21.77% and a net margin of 9.25%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $0.69 earnings per share. analysts predict that Oracle Co. will post 2.76 EPS for the current year.

Oracle announced that its Board of Directors has authorized a share repurchase plan on Friday, February 2nd that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the enterprise software provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 1st. Investors of record on Tuesday, April 17th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Monday, April 16th. Oracle’s dividend payout ratio is currently 30.52%.

A number of research firms have recently weighed in on ORCL. Morgan Stanley reissued a “buy” rating on shares of Oracle in a research report on Sunday, March 18th. TheStreet downgraded shares of Oracle from a “b+” rating to a “c+” rating in a research report on Monday, March 19th. Monness Crespi & Hardt began coverage on shares of Oracle in a research report on Wednesday, April 11th. They set a “neutral” rating for the company. Instinet began coverage on shares of Oracle in a research report on Wednesday, January 24th. They set a “buy” rating and a $51.12 price target for the company. Finally, Bank of America downgraded shares of Oracle from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 20th. Seventeen investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $56.30.

About Oracle

Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure technologies for information technology (IT) environments worldwide. It provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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