Picton Mahoney Asset Management reduced its stake in Oracle Co. (NYSE:ORCL) by 4.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,000 shares of the enterprise software provider’s stock after selling 7,800 shares during the quarter. Picton Mahoney Asset Management’s holdings in Oracle were worth $7,642,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Johnson Financial Group Inc. increased its stake in shares of Oracle by 3.5% during the 3rd quarter. Johnson Financial Group Inc. now owns 39,590 shares of the enterprise software provider’s stock worth $1,914,000 after purchasing an additional 1,330 shares during the last quarter. Dai Ichi Life Insurance Company Ltd grew its stake in Oracle by 0.5% in the 3rd quarter. Dai Ichi Life Insurance Company Ltd now owns 264,359 shares of the enterprise software provider’s stock valued at $12,782,000 after buying an additional 1,352 shares during the last quarter. Hartland & Co. LLC grew its stake in Oracle by 8.1% in the 3rd quarter. Hartland & Co. LLC now owns 24,290 shares of the enterprise software provider’s stock valued at $1,174,000 after buying an additional 1,815 shares during the last quarter. Evergreen Capital Management LLC acquired a new position in Oracle in the 3rd quarter valued at about $1,458,000. Finally, Verity Asset Management Inc. acquired a new position in Oracle in the 3rd quarter valued at about $359,000. 57.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Oracle Co. (NYSE ORCL) opened at $48.15 on Tuesday. Oracle Co. has a 1-year low of $40.75 and a 1-year 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. The firm has a market cap of $200,950.00, a P/E ratio of 20.67, a PEG ratio of 1.82 and a beta of 1.08.
Oracle (NYSE:ORCL) last posted its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, beating the Zacks’ 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 was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.61 EPS. research analysts predict that Oracle Co. will post 2.68 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Tuesday, January 9th. Oracle’s dividend payout ratio (DPR) is 32.62%.
Oracle declared that its board has initiated a stock buyback plan 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. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
A number of research analysts have issued reports on ORCL shares. Zacks Investment Research lowered shares of Oracle from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. BidaskClub raised shares of Oracle from a “hold” rating to a “buy” rating in a report on Wednesday, October 18th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Oracle in a report on Sunday, October 22nd. Vetr downgraded shares of Oracle from a “buy” rating to a “hold” rating and set a $51.74 price objective for the company. in a research note on Tuesday, October 24th. Finally, UBS Group reissued a “neutral” rating and issued a $55.00 price objective (down previously from $57.00) on shares of Oracle in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirty have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $55.39.
In related news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $48.40, for a total transaction of $181,500.00. Following the sale, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $877,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dorian Daley sold 100,000 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 136,954 shares in the company, valued at $6,517,640.86. The disclosure for this sale can be found here. Insiders have sold a total of 1,956,250 shares of company stock worth $98,313,363 over the last three months. 29.00% of the stock is currently owned by insiders.
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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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