Indiana Trust & Investment Management CO decreased its holdings in shares of Oracle Co. (NYSE:ORCL) by 3.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,213 shares of the enterprise software provider’s stock after selling 2,219 shares during the quarter. Oracle comprises approximately 1.3% of Indiana Trust & Investment Management CO’s portfolio, making the stock its 14th biggest holding. Indiana Trust & Investment Management CO’s holdings in Oracle were worth $2,898,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Kiley Juergens Wealth Management LLC grew its position in shares of Oracle by 70.9% during the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 2,747 shares of the enterprise software provider’s stock valued at $141,000 after purchasing an additional 1,140 shares in the last quarter. Murphy Capital Management Inc. grew its position in Oracle by 297.0% in the third quarter. Murphy Capital Management Inc. now owns 73,341 shares of the enterprise software provider’s stock worth $3,781,000 after acquiring an additional 54,867 shares in the last quarter. Factory Mutual Insurance Co. grew its position in Oracle by 2.7% in the third quarter. Factory Mutual Insurance Co. now owns 2,545,420 shares of the enterprise software provider’s stock worth $131,241,000 after acquiring an additional 66,600 shares in the last quarter. Gyroscope Capital Management Group LLC grew its position in Oracle by 122,500.0% in the third quarter. Gyroscope Capital Management Group LLC now owns 29,424 shares of the enterprise software provider’s stock worth $1,452,000 after acquiring an additional 29,400 shares in the last quarter. Finally, Pioneer Trust Bank N A OR grew its position in Oracle by 3.6% in the third quarter. Pioneer Trust Bank N A OR now owns 97,293 shares of the enterprise software provider’s stock worth $5,017,000 after acquiring an additional 3,360 shares in the last quarter. 53.43% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on ORCL shares. Zacks Investment Research upgraded shares of Oracle from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Barclays upped their target price on shares of Oracle from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, September 7th. Citigroup cut their target price on shares of Oracle from $51.00 to $49.00 and set a “neutral” rating for the company in a research report on Tuesday, September 18th. Credit Suisse Group set a $60.00 target price on shares of Oracle and gave the stock a “buy” rating in a research report on Monday, June 18th. Finally, KeyCorp reiterated a “hold” rating on shares of Oracle in a research report on Friday, June 15th. Sixteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $53.92.
NYSE ORCL opened at $47.38 on Friday. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 1.41. Oracle Co. has a 12-month low of $42.57 and a 12-month high of $53.48. The stock has a market cap of $213.44 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 1.72 and a beta of 1.14.
Oracle (NYSE:ORCL) last posted its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.03. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The business had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.26 billion. During the same period in the prior year, the business posted $0.62 earnings per share. The company’s revenue was up .8% on a year-over-year basis. Sell-side analysts predict that Oracle Co. will post 3.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 30th. Shareholders of record on Tuesday, October 16th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, October 15th. This represents a $0.76 annualized dividend and a yield of 1.60%. Oracle’s payout ratio is 26.95%.
Oracle declared that its Board of Directors has approved a stock repurchase plan on Monday, September 17th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the enterprise software provider to purchase up to 5.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $47.77, for a total transaction of $179,137.50. Following the completion of the transaction, the director now directly owns 27,969 shares of the company’s stock, valued at $1,336,079.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Naomi O. Seligman sold 45,000 shares of the company’s stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $48.09, for a total transaction of $2,164,050.00. Following the transaction, the director now directly owns 27,969 shares of the company’s stock, valued at $1,345,029.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,196 shares of company stock valued at $9,235,790. Company insiders own 32.00% of the company’s stock.
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company 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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