Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Oracle Corporation (NYSE:ORCL) by 62.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,005,398 shares of the enterprise software provider’s stock after purchasing an additional 387,433 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Oracle were worth $48,611,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. Capital Analysts LLC increased its position in shares of Oracle by 4.0% in the third quarter. Capital Analysts LLC now owns 73,162 shares of the enterprise software provider’s stock worth $3,537,000 after acquiring an additional 2,794 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Oracle by 9.6% in the third quarter. Toronto Dominion Bank now owns 1,293,212 shares of the enterprise software provider’s stock worth $62,536,000 after acquiring an additional 113,389 shares in the last quarter. CI Investments Inc. increased its position in shares of Oracle by 19.7% in the third quarter. CI Investments Inc. now owns 4,934,295 shares of the enterprise software provider’s stock worth $238,573,000 after acquiring an additional 812,898 shares in the last quarter. Tower Bridge Advisors increased its position in shares of Oracle by 6.1% in the third quarter. Tower Bridge Advisors now owns 274,130 shares of the enterprise software provider’s stock worth $13,254,000 after acquiring an additional 15,690 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of Oracle by 0.3% in the third quarter. Retirement Systems of Alabama now owns 3,028,556 shares of the enterprise software provider’s stock worth $146,431,000 after acquiring an additional 8,687 shares in the last quarter. 57.89% of the stock is currently owned by institutional investors.
Oracle Corporation (ORCL) opened at $49.51 on Friday. The firm has a market cap of $206,630.00, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 1.87 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 fifty-two week low of $38.88 and a fifty-two week high of $53.14.
Oracle (NYSE:ORCL) last announced its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The company had revenue of $9.63 billion during 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 firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $0.61 EPS. sell-side analysts predict that Oracle Corporation will post 2.68 earnings per share for the current year.
Oracle declared that its board has initiated a share buyback program 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 repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Tuesday, January 9th. Oracle’s dividend payout ratio is currently 32.62%.
In other Oracle news, EVP Dorian Daley sold 100,000 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the completion of the transaction, the executive vice president now directly owns 136,954 shares of the company’s stock, valued at approximately $6,517,640.86. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $48.83, for a total transaction of $183,112.50. Following the transaction, the director now directly owns 18,125 shares of the company’s stock, valued at $885,043.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,250 shares of company stock valued at $5,306,238. 29.00% of the stock is owned by company insiders.
ORCL has been the subject of several recent research reports. Canaccord Genuity reissued a “buy” rating and issued a $57.00 price objective (up previously from $56.00) on shares of Oracle in a research report on Saturday, September 16th. Stifel Nicolaus reissued a “buy” rating and issued a $53.00 price objective (up previously from $52.00) on shares of Oracle in a research report on Saturday, September 16th. Vetr raised shares of Oracle from a “strong sell” rating to a “sell” rating and set a $46.58 price objective for the company in a research report on Monday, September 18th. Bank of America reissued a “buy” rating and issued a $62.00 price objective on shares of Oracle in a research report on Monday, September 18th. Finally, Wells Fargo & Co reissued an “overweight” rating and issued a $62.50 price objective on shares of Oracle in a research report on Monday, September 18th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-eight have assigned a buy rating to the company’s stock. Oracle has an average rating of “Buy” and an average price target 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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