Welch & Forbes LLC Reduces Holdings in Oracle Co. (NYSE:ORCL)

Welch & Forbes LLC decreased its position in shares of Oracle Co. (NYSE:ORCL) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 122,276 shares of the enterprise software provider’s stock after selling 776 shares during the quarter. Welch & Forbes LLC’s holdings in Oracle were worth $6,729,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of ORCL. Nuveen Asset Management LLC grew its holdings in shares of Oracle by 6,437.0% during the second quarter. Nuveen Asset Management LLC now owns 10,144,910 shares of the enterprise software provider’s stock worth $577,955,000 after purchasing an additional 9,989,718 shares during the last quarter. Longview Partners Guernsey LTD boosted its stake in shares of Oracle by 16.9% during the second quarter. Longview Partners Guernsey LTD now owns 22,243,759 shares of the enterprise software provider’s stock worth $1,267,227,000 after buying an additional 3,220,296 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Oracle by 2,952.4% during the second quarter. Renaissance Technologies LLC now owns 2,970,032 shares of the enterprise software provider’s stock worth $169,203,000 after buying an additional 2,872,732 shares during the period. LSV Asset Management boosted its stake in shares of Oracle by 37.8% during the second quarter. LSV Asset Management now owns 8,335,383 shares of the enterprise software provider’s stock worth $474,866,000 after buying an additional 2,286,600 shares during the period. Finally, Beutel Goodman & Co Ltd. boosted its stake in shares of Oracle by 62.5% during the second quarter. Beutel Goodman & Co Ltd. now owns 5,578,093 shares of the enterprise software provider’s stock worth $231,296,000 after buying an additional 2,146,084 shares during the period. 53.74% of the stock is currently owned by institutional investors.

In other news, Director Renee Jo James sold 3,000 shares of Oracle stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $53.56, for a total transaction of $160,680.00. Following the completion of the sale, the director now directly owns 32,886 shares in the company, valued at approximately $1,761,374.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Dorian Daley sold 50,000 shares of Oracle stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $55.01, for a total transaction of $2,750,500.00. Following the sale, the executive vice president now owns 50,000 shares of the company’s stock, valued at $2,750,500. The disclosure for this sale can be found here. In the last 90 days, insiders sold 845,143 shares of company stock valued at $43,950,409. 36.60% of the stock is owned by insiders.

Shares of NYSE:ORCL opened at $56.89 on Friday. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 2.67. The company has a market cap of $186.74 billion, a P/E ratio of 18.00, a PEG ratio of 1.61 and a beta of 1.16. Oracle Co. has a 52 week low of $42.40 and a 52 week high of $60.50. The company has a 50-day moving average price of $53.52 and a 200 day moving average price of $54.64.

Oracle (NYSE:ORCL) last announced its quarterly earnings data on Wednesday, September 11th. The enterprise software provider reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.09. The firm had revenue of $9.22 billion during the quarter, compared to the consensus estimate of $9.29 billion. Oracle had a net margin of 27.71% and a return on equity of 48.85%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 earnings per share. Analysts expect that Oracle Co. will post 3.47 EPS for the current year.

Oracle announced that its board has initiated a share buyback plan on Wednesday, September 11th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the enterprise software provider to repurchase up to 8.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 10th will be given a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.96 dividend on an annualized basis and a yield of 1.69%. Oracle’s payout ratio is currently 30.38%.

Several equities research analysts have recently weighed in on ORCL shares. Sanford C. Bernstein set a $66.00 target price on shares of Oracle and gave the stock a “buy” rating in a research note on Thursday, September 12th. Wedbush reiterated a “neutral” rating and set a $55.00 target price on shares of Oracle in a research note on Friday, September 13th. Monness Crespi & Hardt reiterated a “hold” rating on shares of Oracle in a research note on Tuesday, September 10th. Royal Bank of Canada set a $57.00 target price on shares of Oracle and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of Oracle in a research note on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $56.38.

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.

Further Reading: Front-End Load

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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