ZWJ Investment Counsel Inc. cut its holdings in shares of Oracle Co. (NYSE:ORCL) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 701,064 shares of the enterprise software provider’s stock after selling 6,233 shares during the quarter. Oracle makes up about 2.6% of ZWJ Investment Counsel Inc.’s investment portfolio, making the stock its 2nd biggest position. ZWJ Investment Counsel Inc. owned about 16,798.03% of Oracle worth $33,896,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the business. Acrospire Investment Management LLC grew its position in shares of Oracle by 947.4% during the second quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after purchasing an additional 1,800 shares in the last quarter. Burt Wealth Advisors grew its position in shares of Oracle by 4.3% during the second quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after purchasing an additional 88 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Oracle during the second quarter valued at about $129,000. ETF Managers Group LLC purchased a new position in Oracle in the second quarter worth about $133,000. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its position in Oracle by 17.4% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,702 shares of the enterprise software provider’s stock worth $135,000 after acquiring an additional 400 shares in the last quarter. 58.08% of the stock is currently owned by institutional investors and hedge funds.
Shares of Oracle Co. (NYSE ORCL) traded up $0.63 during trading hours on Wednesday, reaching $51.59. 16,806,832 shares of the company were exchanged, compared to its average volume of 17,840,000. The company has a market capitalization of $215,310.00, a P/E ratio of 22.14, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05. Oracle Co. has a 52 week low of $39.67 and a 52 week high of $53.14. The company has a quick ratio of 5.04, a current ratio of 5.07 and a debt-to-equity ratio of 1.03.
Oracle (NYSE:ORCL) last issued its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $9.63 billion during the quarter, compared to the consensus estimate of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.49%. Oracle’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 firm posted $0.61 earnings per share. equities analysts anticipate that Oracle Co. will post 2.68 earnings per share for the current fiscal year.
Oracle declared that its board has initiated a stock buyback program on Thursday, December 14th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the enterprise software provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Tuesday, January 9th. Oracle’s dividend payout ratio is currently 32.62%.
In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $48.83, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dorian Daley sold 100,000 shares of Oracle stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $52.00, for a total transaction of $5,200,000.00. Following the completion of the transaction, the executive vice president now directly owns 37,576 shares in the company, valued at $1,953,952. The disclosure for this sale can be found here. Insiders sold 1,956,250 shares of company stock worth $98,313,363 over the last ninety days. Corporate insiders own 29.00% of the company’s stock.
Several research analysts have issued reports on ORCL shares. Zacks Investment Research lowered Oracle from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. UBS Group restated a “neutral” rating and set a $55.00 target price (down previously from $57.00) on shares of Oracle in a research report on Thursday, November 9th. Vetr lowered Oracle from a “strong-buy” rating to a “buy” rating and set a $51.82 target price for the company. in a research report on Monday, November 20th. BidaskClub upgraded Oracle from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 27th. Finally, Royal Bank of Canada set a $53.00 target price on Oracle and gave the company a “buy” rating in a research report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-nine have given a buy rating to the stock. Oracle currently has an average rating of “Buy” and a consensus target price of $55.39.
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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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