Cornerstone Investment Partners LLC increased its position in shares of Oracle Co. (NYSE:ORCL) by 0.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,970,148 shares of the enterprise software provider’s stock after purchasing an additional 2,525 shares during the quarter. Oracle accounts for about 4.2% of Cornerstone Investment Partners LLC’s investment portfolio, making the stock its 3rd largest holding. Cornerstone Investment Partners LLC’s holdings in Oracle were worth $95,257,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Acrospire Investment Management LLC increased its position 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 buying an additional 1,800 shares during the period. Burt Wealth Advisors increased its position in Oracle by 4.3% in the second quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after buying an additional 88 shares during the period. State of Alaska Department of Revenue acquired a new stake in Oracle in the second quarter worth $129,000. ETF Managers Group LLC acquired a new stake in Oracle in the second quarter worth $133,000. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its holdings in shares of Oracle by 17.4% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,702 shares of the enterprise software provider’s stock valued at $135,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 57.98% of the company’s stock.
In other Oracle news, insider Thomas Kurian sold 1,700,000 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $50.29, for a total transaction of $85,493,000.00. Following the completion of the sale, the insider now directly owns 1,522,983 shares in the company, valued at approximately $76,590,815.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dorian Daley sold 100,000 shares of the firm’s 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 owns 136,954 shares of the company’s stock, valued at $6,517,640.86. The disclosure for this sale can be found here. Insiders sold a total of 1,811,250 shares of company stock valued at $90,803,063 in the last quarter. 29.00% of the stock is currently owned by corporate insiders.
A number of research analysts have recently commented on the company. Royal Bank of Canada set a $51.00 price target on Oracle and gave the company a “neutral” rating in a report on Monday. Vetr lowered Oracle from a “buy” rating to a “hold” rating and set a $51.82 price target on the stock. in a report on Wednesday, January 17th. Morgan Stanley raised Oracle from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $46.63 to $47.71 in a report on Wednesday, January 3rd. Drexel Hamilton reissued a “buy” rating and set a $62.00 price target on shares of Oracle in a report on Tuesday, January 2nd. Finally, ValuEngine raised Oracle from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. One investment 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 company’s stock. The company has a consensus rating of “Buy” and an average price target of $55.27.
Oracle Co. (NYSE:ORCL) opened at $50.71 on Tuesday. The stock has a market capitalization of $211,640.00, a PE ratio of 21.76, a P/E/G ratio of 1.93 and a beta of 1.05. Oracle Co. has a fifty-two week low of $39.43 and a fifty-two week high of $53.14. 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 (NYSE:ORCL) last released its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.02. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The business had revenue of $9.63 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the company posted $0.61 EPS. Oracle’s revenue for the quarter was up 6.2% on a year-over-year basis. analysts anticipate that Oracle Co. will post 2.68 EPS for the current year.
Oracle announced that its Board of Directors has approved a share buyback program on Thursday, December 14th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the enterprise software provider to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be given a $0.19 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.50%. Oracle’s dividend payout ratio (DPR) is 32.62%.
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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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