Taylor Cottrill Erickson & Associates Inc. trimmed its holdings in Oracle Corporation (NYSE:ORCL) by 25.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,146 shares of the enterprise software provider’s stock after selling 27,215 shares during the quarter. Taylor Cottrill Erickson & Associates Inc.’s holdings in Oracle were worth $3,923,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of ORCL. Schwab Charles Investment Management Inc. boosted its position in Oracle by 4.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 10,159,207 shares of the enterprise software provider’s stock valued at $509,383,000 after acquiring an additional 450,836 shares in the last quarter. Partnervest Advisory Services LLC boosted its position in Oracle by 0.6% during the 2nd quarter. Partnervest Advisory Services LLC now owns 6,731 shares of the enterprise software provider’s stock valued at $337,000 after acquiring an additional 39 shares in the last quarter. Lockheed Martin Investment Management Co. boosted its position in Oracle by 125.6% during the 2nd quarter. Lockheed Martin Investment Management Co. now owns 166,160 shares of the enterprise software provider’s stock valued at $8,331,000 after acquiring an additional 92,500 shares in the last quarter. Pinnacle Financial Partners Inc. boosted its position in Oracle by 8.9% during the 2nd quarter. Pinnacle Financial Partners Inc. now owns 113,707 shares of the enterprise software provider’s stock valued at $5,701,000 after acquiring an additional 9,328 shares in the last quarter. Finally, LGT Capital Partners LTD. boosted its position in Oracle by 14.0% during the 2nd quarter. LGT Capital Partners LTD. now owns 623,463 shares of the enterprise software provider’s stock valued at $31,260,000 after acquiring an additional 76,653 shares in the last quarter. Hedge funds and other institutional investors own 57.89% of the company’s stock.
In other news, EVP Dorian Daley sold 100,000 shares of the company’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the sale, the executive vice president now owns 136,954 shares of the company’s stock, valued at $6,517,640.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $48.70, for a total value of $182,625.00. The disclosure for this sale can be found here. In the last three months, insiders sold 111,250 shares of company stock worth $5,306,238. 29.00% of the stock is owned by corporate insiders.
Oracle Corporation (NYSE ORCL) traded up $0.15 during mid-day trading on Thursday, hitting $48.95. 11,686,968 shares of the stock traded hands, compared to its average volume of 18,140,000. The stock has a market cap of $204,290.00, a price-to-earnings ratio of 21.01, a PEG ratio of 1.85 and a beta of 1.05. The company has a current ratio of 5.07, a quick ratio of 5.04 and a debt-to-equity ratio of 1.03. Oracle Corporation has a 1 year low of $38.59 and a 1 year high of $53.14.
Oracle (NYSE:ORCL) last released its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The firm had revenue of $9.63 billion for 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 business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.61 EPS. sell-side analysts forecast that Oracle Corporation will post 2.68 EPS for the current fiscal year.
Oracle announced that its board has authorized a share repurchase program on Thursday, December 14th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the enterprise software provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Tuesday, January 9th. Oracle’s payout ratio is 32.62%.
A number of research firms have recently weighed in on ORCL. Jefferies Group raised their price objective on Oracle from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, September 15th. Oppenheimer restated a “hold” rating on shares of Oracle in a research note on Friday, December 15th. Zacks Investment Research lowered Oracle from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. Vetr upgraded Oracle from a “buy” rating to a “strong-buy” rating and set a $55.49 target price for the company in a research note on Monday, November 13th. Finally, Mitsubishi UFJ Financial Group reiterated a “buy” rating and set a $63.00 price objective on shares of Oracle in a research note on Friday, September 15th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $55.28.
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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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