Foster Dykema Cabot & Co. Inc. MA trimmed its holdings in Oracle Co. (NYSE:ORCL) by 37.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,585 shares of the enterprise software provider’s stock after selling 2,780 shares during the quarter. Foster Dykema Cabot & Co. Inc. MA’s holdings in Oracle were worth $236,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in ORCL. FMR LLC lifted its holdings in shares of Oracle by 21.4% in 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 last quarter. Charles Schwab Investment Advisory Inc. bought a new stake in shares of Oracle in the 2nd quarter worth approximately $218,896,000. Sumitomo Mitsui Asset Management Company LTD lifted its holdings in shares of Oracle by 787.8% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,944,051 shares of the enterprise software provider’s stock worth $85,654,000 after acquiring an additional 1,725,077 shares during the last quarter. Putnam Investments LLC lifted its holdings in shares of Oracle by 202.1% in the 2nd quarter. Putnam Investments LLC now owns 2,136,058 shares of the enterprise software provider’s stock worth $94,115,000 after acquiring an additional 1,428,924 shares during the last quarter. Finally, Royal London Asset Management Ltd. bought a new stake in shares of Oracle in the 2nd quarter worth approximately $54,770,000. Hedge funds and other institutional investors own 53.38% of the company’s stock.
Shares of Oracle stock opened at $50.61 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. The firm has a market cap of $208.76 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 1.69 and a beta of 1.12. 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 data on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. The business had revenue of $9.20 billion for 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%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.62 EPS. On average, analysts forecast that Oracle Co. will post 3.06 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 30th. Shareholders of record on Tuesday, October 16th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Monday, October 15th. Oracle’s payout ratio is currently 26.95%.
Oracle declared that its Board of Directors has initiated a share buyback plan on Monday, September 17th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the enterprise software provider to purchase up to 5.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
A number of equities research analysts have recently weighed in on the stock. Credit Suisse Group restated a “buy” rating and issued a $60.00 price objective on shares of Oracle in a report on Tuesday, September 18th. Royal Bank of Canada boosted their price objective on shares of Oracle from $52.00 to $53.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 18th. Goldman Sachs Group restated a “buy” rating and issued a $55.00 price objective on shares of Oracle in a report on Tuesday, September 18th. KeyCorp restated a “hold” rating on shares of Oracle in a report on Wednesday, September 12th. Finally, Wedbush restated a “neutral” rating and issued a $49.00 price objective on shares of Oracle in a report on Tuesday, September 18th. Seventeen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $53.71.
In other Oracle news, EVP Dorian Daley sold 131,696 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 109,615 shares of the company’s stock, valued at approximately $5,582,691.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction 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 in the company, valued at $1,382,227.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 142,946 shares of company stock worth $7,248,965. Insiders own 32.00% of the company’s stock.
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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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