Blume Capital Management Inc. Reduces Position in Oracle Co. (ORCL)

Blume Capital Management Inc. reduced its position in shares of Oracle Co. (NYSE:ORCL) by 1.7% during the third quarter, HoldingsChannel reports. The firm owned 161,500 shares of the enterprise software provider’s stock after selling 2,800 shares during the period. Oracle makes up 4.4% of Blume Capital Management Inc.’s holdings, making the stock its 3rd largest holding. Blume Capital Management Inc.’s holdings in Oracle were worth $8,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Buckingham Asset Management LLC increased its holdings in Oracle by 16.0% during the third quarter. Buckingham Asset Management LLC now owns 28,330 shares of the enterprise software provider’s stock worth $1,461,000 after buying an additional 3,908 shares during the last quarter. Bbva Compass Bancshares Inc. increased its holdings in Oracle by 2.9% during the third quarter. Bbva Compass Bancshares Inc. now owns 289,576 shares of the enterprise software provider’s stock worth $14,931,000 after buying an additional 8,215 shares during the last quarter. Hollencrest Capital Management increased its holdings in Oracle by 18.5% during the third quarter. Hollencrest Capital Management now owns 60,371 shares of the enterprise software provider’s stock worth $3,113,000 after buying an additional 9,405 shares during the last quarter. Usca Ria LLC increased its holdings in Oracle by 2.8% during the third quarter. Usca Ria LLC now owns 69,377 shares of the enterprise software provider’s stock worth $3,577,000 after buying an additional 1,882 shares during the last quarter. Finally, Wedgewood Investors Inc. PA purchased a new stake in Oracle during the third quarter worth about $230,000. 53.38% of the stock is currently owned by institutional investors.

A number of analysts recently issued reports on the stock. Rosenblatt Securities restated a “hold” rating and set a $51.00 price objective on shares of Oracle in a report on Tuesday, October 30th. Nomura decreased their price objective on shares of Oracle from $58.00 to $53.00 and set a “buy” rating for the company in a report on Friday, October 26th. KeyCorp restated a “hold” rating on shares of Oracle in a report on Friday, October 26th. Credit Suisse Group restated a “buy” rating and set a $60.00 price objective on shares of Oracle in a report on Wednesday, October 24th. Finally, Needham & Company LLC initiated coverage on shares of Oracle in a research note on Monday, October 22nd. They issued a “hold” rating for the company. Seventeen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Oracle currently has a consensus rating of “Hold” and a consensus price target of $53.71.

In related news, EVP Dorian Daley sold 131,696 shares of the business’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 transaction, the executive vice president now owns 109,615 shares of the company’s stock, valued at $5,582,691.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction, the director now directly owns 27,969 shares of the company’s stock, valued at approximately $1,382,227.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 142,946 shares of company stock valued at $7,248,965. 32.00% of the stock is owned by corporate insiders.

ORCL opened at $50.61 on Friday. The stock has a market capitalization of $208.06 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 1.69 and a beta of 1.12. Oracle Co. has a twelve month low of $42.57 and a twelve month high of $53.48. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.43 and a quick ratio of 3.43.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Monday, September 17th. The enterprise software provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. The company had revenue of $9.20 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.62 earnings per share. On average, equities research analysts anticipate that Oracle Co. will post 3.06 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 30th. Investors of record on Tuesday, October 16th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, October 15th. This represents a $0.76 annualized dividend and a yield of 1.50%. Oracle’s dividend payout ratio is currently 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 reacquire 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 shares are undervalued.

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About Oracle

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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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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