Optimum Investment Advisors cut its position in shares of Oracle Co. (NYSE:ORCL) by 0.7% during the 3rd quarter, Holdings Channel reports. The firm owned 29,422 shares of the enterprise software provider’s stock after selling 209 shares during the period. Optimum Investment Advisors’ holdings in Oracle were worth $1,619,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of ORCL. Weaver Consulting Group acquired a new position in shares of Oracle in the 1st quarter worth $127,000. Neville Rodie & Shaw Inc. grew its holdings in shares of Oracle by 1.2% in the 2nd quarter. Neville Rodie & Shaw Inc. now owns 176,654 shares of the enterprise software provider’s stock worth $10,064,000 after acquiring an additional 2,169 shares during the last quarter. Thomasville National Bank grew its holdings in shares of Oracle by 1.5% in the 2nd quarter. Thomasville National Bank now owns 20,351 shares of the enterprise software provider’s stock worth $1,160,000 after acquiring an additional 300 shares during the last quarter. Private Trust Co. NA grew its holdings in shares of Oracle by 2.0% in the 2nd quarter. Private Trust Co. NA now owns 22,626 shares of the enterprise software provider’s stock worth $1,289,000 after acquiring an additional 435 shares during the last quarter. Finally, Baystate Wealth Management LLC grew its holdings in shares of Oracle by 56.8% in the 2nd quarter. Baystate Wealth Management LLC now owns 4,987 shares of the enterprise software provider’s stock worth $289,000 after acquiring an additional 1,806 shares during the last quarter. Institutional investors own 53.80% of the company’s stock.
In related news, Director Hector Garcia-Molina sold 4,643 shares of Oracle stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $56.59, for a total transaction of $262,747.37. Following the completion of the sale, the director now owns 38,562 shares of the company’s stock, valued at $2,182,223.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mark V. Hurd sold 787,500 shares of Oracle stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $51.80, for a total value of $40,792,500.00. Following the sale, the chief executive officer now directly owns 1,038,755 shares of the company’s stock, valued at approximately $53,807,509. The disclosure for this sale can be found here. In the last three months, insiders have sold 849,786 shares of company stock valued at $44,213,156. Insiders own 36.60% of the company’s stock.
A number of brokerages recently issued reports on ORCL. Stifel Nicolaus restated a “hold” rating on shares of Oracle in a report on Thursday, September 12th. ValuEngine cut Oracle from a “hold” rating to a “sell” rating in a report on Thursday. Wells Fargo & Co lifted their target price on Oracle from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. Sanford C. Bernstein set a $66.00 price target on Oracle and gave the company a “buy” rating in a report on Thursday, September 12th. Finally, Jefferies Financial Group downgraded Oracle from a “buy” rating to a “hold” rating and lowered their price target for the company from $66.00 to $60.00 in a report on Monday, October 7th. Four investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $56.38.
Shares of ORCL stock traded down $0.40 on Friday, reaching $54.66. 768,217 shares of the company’s stock traded hands, compared to its average volume of 16,075,074. Oracle Co. has a 12-month low of $42.40 and a 12-month high of $60.50. The company has a debt-to-equity ratio of 2.67, a quick ratio of 2.25 and a current ratio of 2.25. The company has a market capitalization of $184.97 billion, a P/E ratio of 17.30, a price-to-earnings-growth ratio of 1.67 and a beta of 1.16. The business’s 50 day moving average price is $54.02 and its two-hundred day moving average price is $54.74.
Oracle (NYSE:ORCL) last released its quarterly earnings data on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09. The firm had revenue of $9.22 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Oracle had a return on equity of 48.85% and a net margin of 27.71%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 earnings per share. Research analysts predict that Oracle Co. will post 3.47 earnings per share for the current year.
Oracle announced that its board has initiated a share repurchase plan on Wednesday, September 11th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the enterprise software provider to reacquire up to 8.4% of its shares through open market purchases. Shares buyback plans are typically 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 dividend of $0.24 per share. 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 1.76%. Oracle’s payout ratio is 30.38%.
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.
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