Xact Kapitalforvaltning AB reduced its holdings in shares of Oracle Co. (NYSE:ORCL) by 7.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 626,579 shares of the enterprise software provider’s stock after selling 47,129 shares during the period. Oracle accounts for about 1.6% of Xact Kapitalforvaltning AB’s portfolio, making the stock its 13th largest position. Xact Kapitalforvaltning AB’s holdings in Oracle were worth $32,306,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the company. Rainier Group Investment Advisory LLC acquired a new position in Oracle in the first quarter valued at about $106,000. ELM Advisors LLC acquired a new position in Oracle in the third quarter valued at about $122,000. Kiley Juergens Wealth Management LLC boosted its position in Oracle by 70.9% in the third quarter. Kiley Juergens Wealth Management LLC now owns 2,747 shares of the enterprise software provider’s stock valued at $141,000 after buying an additional 1,140 shares in the last quarter. Financial Gravity Wealth Inc. acquired a new position in Oracle in the first quarter valued at about $130,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Oracle in the second quarter valued at about $126,000. Institutional investors and hedge funds own 53.58% of the company’s stock.
In related news, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $185,325.00. Following the completion of the sale, the director now directly owns 27,969 shares of the company’s stock, valued at $1,382,227.98. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Dorian Daley sold 131,696 shares of the company’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $50.93, for a total transaction of $6,707,277.28. Following the completion of the sale, the executive vice president now directly owns 109,615 shares of the company’s stock, valued at approximately $5,582,691.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 142,946 shares of company stock valued at $7,248,965. 32.00% of the stock is currently owned by insiders.
ORCL opened at $47.59 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. The company has a market cap of $196.13 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 1.59 and a beta of 1.15. Oracle Co. has a fifty-two week low of $42.57 and a fifty-two week high of $53.48.
Oracle (NYSE:ORCL) last posted its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. The business had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.26 billion. Oracle had a net margin of 9.74% and a return on equity of 25.60%. Oracle’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 earnings per share. On average, equities research analysts anticipate that Oracle Co. will post 3.06 earnings per share for the current fiscal year.
Oracle announced that its Board of Directors has approved a stock buyback plan on Monday, September 17th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the enterprise software provider to reacquire up to 5.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 30th. Investors of record on Tuesday, October 16th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Monday, October 15th. Oracle’s dividend payout ratio (DPR) is 26.95%.
A number of equities analysts have commented on the stock. Societe Generale set a $50.00 price target on shares of Oracle and gave the company a “neutral” rating in a research report on Tuesday, August 14th. Zacks Investment Research upgraded shares of Oracle from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $53.00 target price on shares of Oracle in a research report on Tuesday, September 18th. Goldman Sachs Group reiterated a “buy” rating and set a $55.00 target price on shares of Oracle in a research report on Tuesday, September 18th. Finally, ValuEngine upgraded shares of Oracle from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. Sixteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Oracle currently has a consensus rating of “Buy” and an average price target of $53.92.
Oracle Company Profile
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.
See Also: How is the discount rate different from the Federal Funds rate?
Want to see what other hedge funds are holding ORCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oracle Co. (NYSE:ORCL).
Receive News & Ratings for Oracle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oracle and related companies with MarketBeat.com's FREE daily email newsletter.