HC Financial Advisors Inc. reduced its holdings in shares of Oracle Co. (NYSE:ORCL) by 87.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,635 shares of the enterprise software provider’s stock after selling 44,578 shares during the period. HC Financial Advisors Inc.’s holdings in Oracle were worth $342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the stock. Seven Eight Capital LP purchased a new stake in Oracle during the 3rd quarter valued at about $16,756,000. LGT Capital Partners LTD. grew its stake in Oracle by 39.7% during the 3rd quarter. LGT Capital Partners LTD. now owns 870,570 shares of the enterprise software provider’s stock valued at $44,887,000 after purchasing an additional 247,450 shares during the last quarter. Aperio Group LLC grew its stake in Oracle by 1.3% during the 3rd quarter. Aperio Group LLC now owns 1,970,484 shares of the enterprise software provider’s stock valued at $101,598,000 after purchasing an additional 25,190 shares during the last quarter. BB&T Corp grew its stake in Oracle by 5.9% during the 3rd quarter. BB&T Corp now owns 326,193 shares of the enterprise software provider’s stock valued at $16,819,000 after purchasing an additional 18,274 shares during the last quarter. Finally, Coastline Trust Co grew its stake in Oracle by 4.4% during the 3rd quarter. Coastline Trust Co now owns 94,840 shares of the enterprise software provider’s stock valued at $4,890,000 after purchasing an additional 4,021 shares during the last quarter. 53.58% of the stock is currently owned by institutional investors.
ORCL has been the topic of several research analyst reports. Nomura dropped their price target on Oracle from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, June 29th. Credit Suisse Group reiterated a “buy” rating and set a $60.00 price target on shares of Oracle in a research note on Tuesday, September 18th. Goldman Sachs Group restated a “buy” rating and issued a $55.00 target price on shares of Oracle in a research note on Tuesday, September 18th. KeyCorp restated a “hold” rating on shares of Oracle in a research note on Wednesday, September 12th. Finally, Zacks Investment Research upgraded Oracle from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. Sixteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Oracle has an average rating of “Buy” and a consensus target price of $53.92.
Shares of ORCL stock opened at $47.59 on Friday. The company has a market cap of $198.12 billion, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 1.60 and a beta of 1.15. The company has a current ratio of 3.43, a quick 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.
Oracle (NYSE:ORCL) last issued its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The company had revenue of $9.20 billion for the quarter, compared to the consensus estimate of $9.26 billion. Oracle had a return on equity of 25.60% and a net margin of 9.74%. Oracle’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.62 earnings per share. On average, research analysts predict that Oracle Co. will post 3.06 EPS for the current 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 dividend on an annualized basis and a yield of 1.60%. Oracle’s dividend payout ratio is currently 26.95%.
Oracle declared that its Board of Directors has initiated a share repurchase program on Monday, September 17th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the enterprise software provider to reacquire up to 5.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $47.77, for a total transaction of $179,137.50. Following the transaction, the director now owns 27,969 shares in the company, valued at $1,336,079.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dorian Daley sold 131,696 shares of the stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $50.93, for a total value of $6,707,277.28. Following the transaction, the executive vice president now owns 109,615 shares in the company, valued at approximately $5,582,691.95. The disclosure for this sale can be found here. Insiders have sold 142,946 shares of company stock worth $7,248,965 in the last quarter. 32.00% of the stock is currently owned by company insiders.
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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