Daiwa Securities Group Inc. cut its position in Oracle Co. (NYSE:ORCL) by 0.8% in the third quarter, Holdings Channel reports. The firm owned 134,304 shares of the enterprise software provider’s stock after selling 1,020 shares during the period. Daiwa Securities Group Inc.’s holdings in Oracle were worth $7,391,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Appleton Partners Inc. MA increased its stake in Oracle by 2.9% in the 2nd quarter. Appleton Partners Inc. MA now owns 6,170 shares of the enterprise software provider’s stock valued at $351,000 after purchasing an additional 173 shares in the last quarter. Willow Creek Wealth Management Inc. grew its holdings in Oracle by 2.1% during the 3rd quarter. Willow Creek Wealth Management Inc. now owns 8,422 shares of the enterprise software provider’s stock valued at $463,000 after buying an additional 177 shares during the last quarter. Northern Oak Wealth Management Inc. grew its holdings in Oracle by 14.8% during the 2nd quarter. Northern Oak Wealth Management Inc. now owns 1,378 shares of the enterprise software provider’s stock valued at $78,000 after buying an additional 178 shares during the last quarter. First Command Financial Services Inc. grew its holdings in Oracle by 2.7% during the 3rd quarter. First Command Financial Services Inc. now owns 7,102 shares of the enterprise software provider’s stock valued at $391,000 after buying an additional 187 shares during the last quarter. Finally, Slow Capital Inc. grew its holdings in Oracle by 1.1% during the 2nd quarter. Slow Capital Inc. now owns 17,403 shares of the enterprise software provider’s stock valued at $991,000 after buying an additional 197 shares during the last quarter. 53.90% of the stock is owned by hedge funds and other institutional investors.
Shares of ORCL stock traded up $0.51 during mid-day trading on Friday, hitting $56.49. 5,847,214 shares of the company’s stock were exchanged, compared to its average volume of 9,699,096. 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 stock has a market cap of $182.74 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.65 and a beta of 1.16. The stock has a 50-day simple moving average of $54.73 and a two-hundred day simple moving average of $54.80. Oracle Co. has a fifty-two week low of $42.40 and a fifty-two week high of $60.50.
Oracle (NYSE:ORCL) last issued its earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.09. The business had revenue of $9.22 billion for the quarter, compared to analyst estimates of $9.29 billion. Oracle had a return on equity of 48.85% and a net margin of 27.71%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the company posted $0.71 EPS. As a group, analysts anticipate that Oracle Co. will post 3.47 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Wednesday, October 9th. Oracle’s dividend payout ratio (DPR) is currently 30.38%.
Oracle declared that its Board of Directors has authorized a stock repurchase program on Wednesday, September 11th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the enterprise software provider to purchase up to 8.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
A number of equities research analysts have commented on ORCL shares. Needham & Company LLC reiterated a “hold” rating on shares of Oracle in a report on Wednesday, October 30th. Macquarie reiterated a “hold” rating on shares of Oracle in a report on Thursday, September 12th. Wedbush reiterated a “neutral” rating and set a $55.00 target price on shares of Oracle in a report on Friday, September 13th. Argus reiterated a “buy” rating on shares of Oracle in a report on Friday, September 13th. Finally, Credit Suisse Group set a $62.00 target price on Oracle and gave the company a “buy” rating in a report on Tuesday, September 24th. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $56.80.
In related news, CEO Mark V. Hurd sold 787,500 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $51.80, for a total value of $40,792,500.00. Following the transaction, the chief executive officer now directly owns 1,038,755 shares of the company’s stock, valued at approximately $53,807,509. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Renee Jo James sold 3,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $53.56, for a total value of $160,680.00. Following the completion of the transaction, the director now directly owns 32,886 shares in the company, valued at $1,761,374.16. The disclosure for this sale can be found here. Insiders sold a total of 849,786 shares of company stock worth $44,213,156 over the last ninety days. Corporate insiders own 36.60% of the company’s stock.
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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