Shelter Ins Retirement Plan trimmed its position in Oracle Co. (NYSE:ORCL) by 5.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 185,400 shares of the enterprise software provider’s stock after selling 9,800 shares during the quarter. Oracle comprises about 4.2% of Shelter Ins Retirement Plan’s investment portfolio, making the stock its 2nd biggest position. Shelter Ins Retirement Plan’s holdings in Oracle were worth $8,964,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Acrospire Investment Management LLC increased its stake in Oracle by 947.4% during the second quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after acquiring an additional 1,800 shares during the last quarter. Burt Wealth Advisors increased its stake in Oracle by 4.3% during the second quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after acquiring an additional 88 shares during the last quarter. IHT Wealth Management LLC increased its stake in Oracle by 65.9% during the second quarter. IHT Wealth Management LLC now owns 2,383 shares of the enterprise software provider’s stock worth $154,000 after acquiring an additional 947 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in Oracle during the second quarter worth approximately $129,000. Finally, ETF Managers Group LLC bought a new stake in Oracle during the second quarter worth approximately $133,000. 58.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Oracle Co. (NYSE ORCL) traded down $1.50 during midday trading on Friday, hitting $50.13. The company had a trading volume of 17,066,379 shares, compared to its average volume of 15,440,000. The company has a quick ratio of 5.04, a current ratio of 5.07 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $209,220.00, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 1.97 and a beta of 1.08. Oracle Co. has a 12-month low of $39.95 and a 12-month high of $53.14.
Oracle (NYSE:ORCL) last announced its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $9.63 billion during the quarter, compared to analyst estimates of $9.57 billion. Oracle had a return on equity of 20.49% and a net margin of 25.48%. Oracle’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 earnings per share. equities research analysts anticipate that Oracle Co. will post 2.68 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $0.76 dividend on an annualized basis and a yield of 1.52%. Oracle’s dividend payout ratio is currently 32.62%.
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 shares. This buyback authorization authorizes the enterprise software provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Several equities research analysts have weighed in on ORCL shares. Canaccord Genuity started coverage on Oracle in a research note on Friday, October 6th. They set a “buy” rating and a $57.00 price objective on the stock. Wedbush reaffirmed a “buy” rating and set a $58.00 target price on shares of Oracle in a research note on Friday, December 15th. Vetr cut Oracle from a “buy” rating to a “hold” rating and set a $51.82 target price on the stock. in a research note on Wednesday, January 17th. JPMorgan Chase & Co. set a $55.00 target price on Oracle and gave the company a “buy” rating in a research note on Tuesday, December 12th. Finally, BidaskClub raised Oracle from a “hold” rating to a “buy” rating in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $55.39.
In other Oracle news, insider Thomas Kurian sold 1,700,000 shares of the company’s stock in a transaction on 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 owns 1,522,983 shares in the company, valued at $76,590,815.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Naomi O. Seligman sold 45,000 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $51.34, for a total value of $2,310,300.00. Following the sale, the director now owns 62,498 shares of the company’s stock, valued at approximately $3,208,647.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,956,250 shares of company stock valued at $98,313,363. 29.00% of the stock is owned by company insiders.
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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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