OppenheimerFunds Inc. increased its position in shares of Oracle Co. (NYSE:ORCL) by 81.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,531,857 shares of the enterprise software provider’s stock after purchasing an additional 2,938,638 shares during the quarter. OppenheimerFunds Inc.’s holdings in Oracle were worth $308,826,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Oracle by 2.6% in the second quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock valued at $10,350,996,000 after buying an additional 5,270,359 shares during the last quarter. Harris Associates L P lifted its stake in Oracle by 17.9% in the second quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock valued at $2,456,319,000 after buying an additional 7,427,501 shares during the last quarter. Northern Trust Corp lifted its stake in Oracle by 4.6% in the second quarter. Northern Trust Corp now owns 42,098,104 shares of the enterprise software provider’s stock valued at $2,110,799,000 after buying an additional 1,835,835 shares during the last quarter. FMR LLC lifted its stake in Oracle by 24.8% in the second quarter. FMR LLC now owns 33,082,375 shares of the enterprise software provider’s stock valued at $1,658,750,000 after buying an additional 6,577,297 shares during the last quarter. Finally, Boston Partners lifted its stake in Oracle by 1.9% in the fourth quarter. Boston Partners now owns 24,380,374 shares of the enterprise software provider’s stock valued at $1,152,704,000 after buying an additional 455,403 shares during the last quarter. Hedge funds and other institutional investors own 57.94% of the company’s stock.
In related news, insider Thomas Kurian sold 1,700,000 shares of Oracle stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $50.29, for a total value of $85,493,000.00. Following the transaction, the insider now owns 1,522,983 shares of the company’s stock, valued at approximately $76,590,815.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $49.72, for a total value of $186,450.00. Following the completion of the transaction, the director now directly owns 18,125 shares in the company, valued at approximately $901,175. The disclosure for this sale can be found here. Insiders sold a total of 1,981,250 shares of company stock worth $99,315,438 in the last three months. 29.00% of the stock is currently owned by company insiders.
A number of equities research analysts have issued reports on the company. Morgan Stanley reiterated a “buy” rating on shares of Oracle in a research note on Sunday, March 18th. Oppenheimer reiterated a “hold” rating on shares of Oracle in a research note on Friday, December 15th. Zacks Investment Research cut Oracle from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. TheStreet cut Oracle from a “b+” rating to a “c+” rating in a research note on Monday, March 19th. Finally, Instinet assumed coverage on Oracle in a research note on Wednesday, January 24th. They issued a “buy” rating and a $51.12 target price on the stock. Sixteen analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $56.11.
Shares of ORCL opened at $44.83 on Friday. The stock has a market capitalization of $190,256.11, a P/E ratio of 18.00, a P/E/G ratio of 1.70 and a beta of 1.15. Oracle Co. has a 1-year low of $43.60 and a 1-year high of $53.48. The company has a debt-to-equity ratio of 1.16, a quick ratio of 4.30 and a current ratio of 4.33.
Oracle (NYSE:ORCL) last issued its quarterly earnings results on Monday, March 19th. The enterprise software provider reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.11. The firm had revenue of $9.78 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Oracle had a return on equity of 21.77% and a net margin of 9.25%. Oracle’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. equities analysts forecast that Oracle Co. will post 2.76 EPS for the current year.
Oracle declared that its Board of Directors has authorized a share buyback program on Thursday, December 14th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the enterprise software provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally 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 Tuesday, May 1st. Investors of record on Tuesday, April 17th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, April 16th. This represents a $0.76 dividend on an annualized basis and a yield of 1.70%. Oracle’s dividend payout ratio is currently 30.52%.
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Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure technologies for information technology (IT) environments worldwide. It provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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