Greenleaf Trust boosted its holdings in shares of Oracle Co. (NYSE:ORCL) by 11.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,573 shares of the enterprise software provider’s stock after purchasing an additional 4,508 shares during the period. Greenleaf Trust’s holdings in Oracle were worth $2,247,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. FMR LLC grew its holdings in shares of Oracle by 21.4% during the 2nd quarter. FMR LLC now owns 47,683,832 shares of the enterprise software provider’s stock worth $2,100,949,000 after acquiring an additional 8,401,411 shares during the period. Magellan Asset Management Ltd grew its holdings in shares of Oracle by 0.3% during the 2nd quarter. Magellan Asset Management Ltd now owns 27,663,584 shares of the enterprise software provider’s stock worth $1,218,858,000 after acquiring an additional 85,349 shares during the period. Vulcan Value Partners LLC grew its holdings in shares of Oracle by 3.8% during the 2nd quarter. Vulcan Value Partners LLC now owns 25,019,520 shares of the enterprise software provider’s stock worth $1,102,360,000 after acquiring an additional 922,785 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Oracle by 3.9% during the 2nd quarter. Artisan Partners Limited Partnership now owns 15,661,304 shares of the enterprise software provider’s stock worth $690,037,000 after acquiring an additional 584,748 shares during the period. Finally, Macquarie Group Ltd. grew its holdings in shares of Oracle by 4.4% during the 2nd quarter. Macquarie Group Ltd. now owns 15,551,321 shares of the enterprise software provider’s stock worth $685,187,000 after acquiring an additional 661,718 shares during the period. Institutional investors own 53.45% of the company’s stock.
A number of research analysts have weighed in on ORCL shares. Credit Suisse Group reiterated a “buy” rating and set a $60.00 target price on shares of Oracle in a report on Wednesday, October 24th. Zacks Investment Research upgraded Oracle from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. Citigroup reduced their target price on Oracle from $51.00 to $49.00 and set a “neutral” rating on the stock in a report on Tuesday, September 18th. Stifel Nicolaus reiterated a “hold” rating and set a $49.00 target price (down previously from $50.00) on shares of Oracle in a report on Tuesday, September 18th. Finally, Barclays upped their target price on Oracle from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, September 7th. Seventeen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Oracle presently has an average rating of “Hold” and a consensus target price of $53.71.
In related news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $47.77, for a total value of $179,137.50. Following the transaction, the director now directly owns 27,969 shares of the company’s stock, valued at approximately $1,336,079.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $6,707,277.28. Following the completion of the transaction, the executive vice president now directly owns 109,615 shares in the company, valued at $5,582,691.95. The disclosure for this sale can be found here. Insiders sold a total of 142,946 shares of company stock worth $7,248,965 over the last ninety days. 32.00% of the stock is currently owned by insiders.
Shares of ORCL opened at $48.59 on Friday. 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 52 week low of $42.57 and a 52 week high of $53.48. The company has a market capitalization of $201.06 billion, a PE ratio of 17.23, a P/E/G ratio of 1.63 and a beta of 1.15.
Oracle (NYSE:ORCL) last issued its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.26 billion. Oracle had a return on equity of 25.60% and a net margin of 9.74%. The business’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 EPS. As a group, analysts forecast that Oracle Co. will post 3.06 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 30th. Investors of record on Tuesday, October 16th were given a $0.19 dividend. The ex-dividend date of this dividend was Monday, October 15th. This represents a $0.76 annualized dividend and a yield of 1.56%. Oracle’s dividend payout ratio (DPR) is presently 26.95%.
Oracle declared that its board has initiated a stock repurchase plan on Monday, September 17th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the enterprise software provider to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
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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