Somerville Kurt F reduced its holdings in Oracle Corporation (NYSE:ORCL) by 11.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 190,436 shares of the enterprise software provider’s stock after selling 23,890 shares during the period. Oracle comprises 1.8% of Somerville Kurt F’s holdings, making the stock its 26th biggest position. Somerville Kurt F’s holdings in Oracle were worth $9,207,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in ORCL. Vanguard Group Inc. boosted its holdings 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 in the last quarter. BlackRock Inc. boosted its holdings in Oracle by 2.5% during the second quarter. BlackRock Inc. now owns 193,791,492 shares of the enterprise software provider’s stock worth $9,716,707,000 after buying an additional 4,678,977 shares in the last quarter. Harris Associates L P boosted its holdings in Oracle by 17.9% during the second quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock worth $2,456,319,000 after buying an additional 7,427,501 shares in the last quarter. Northern Trust Corp boosted its holdings in Oracle by 4.6% during the second quarter. Northern Trust Corp now owns 42,098,104 shares of the enterprise software provider’s stock worth $2,110,799,000 after buying an additional 1,835,835 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in Oracle by 1.2% during the second quarter. First Eagle Investment Management LLC now owns 41,717,395 shares of the enterprise software provider’s stock worth $2,091,710,000 after buying an additional 482,220 shares in the last quarter. 57.89% of the stock is currently owned by institutional investors and hedge funds.
Shares of Oracle Corporation (NYSE:ORCL) opened at $48.95 on Friday. The company has a market cap of $204,290.00, a PE ratio of 21.01, a PEG ratio of 1.85 and a beta of 1.05. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.07 and a quick ratio of 5.04. Oracle Corporation has a 12-month low of $38.59 and a 12-month high of $53.14.
Oracle (NYSE:ORCL) last issued its 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. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The business had revenue of $9.63 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same period in the prior year, the business earned $0.61 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. sell-side analysts anticipate that Oracle Corporation will post 2.68 EPS for the current fiscal year.
Oracle announced that its Board of Directors has initiated a share buyback plan on Thursday, December 14th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the enterprise software provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Tuesday, January 9th. Oracle’s dividend payout ratio is currently 32.62%.
In related news, EVP Dorian Daley sold 100,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $47.59, for a total value of $4,759,000.00. Following the completion of the sale, the executive vice president now owns 136,954 shares of the company’s stock, valued at $6,517,640.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $48.83, for a total transaction of $183,112.50. Following the completion of the sale, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $885,043.75. The disclosure for this sale can be found here. Insiders sold 111,250 shares of company stock valued at $5,306,238 in the last three months. 29.00% of the stock is currently owned by insiders.
ORCL has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Oracle from a “hold” rating to a “sell” rating in a report on Monday, October 23rd. UBS Group restated a “neutral” rating and set a $55.00 price objective (down from $57.00) on shares of Oracle in a research report on Thursday, November 9th. Vetr cut shares of Oracle from a “strong-buy” rating to a “buy” rating and set a $51.82 price objective for the company. in a research report on Monday, November 20th. Drexel Hamilton restated a “buy” rating and set a $62.00 price objective on shares of Oracle in a research report on Thursday, September 14th. Finally, BidaskClub upgraded shares of Oracle from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $55.28.
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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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