Jacobs & Co. CA lowered its stake in Oracle Co. (NYSE:ORCL) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,105 shares of the enterprise software provider’s stock after selling 232 shares during the quarter. Jacobs & Co. CA’s holdings in Oracle were worth $1,216,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Longview Partners Guernsey LTD lifted its position in Oracle by 16.9% in the second quarter. Longview Partners Guernsey LTD now owns 22,243,759 shares of the enterprise software provider’s stock valued at $1,267,227,000 after buying an additional 3,220,296 shares during the last quarter. Fisher Asset Management LLC lifted its position in Oracle by 3.4% in the third quarter. Fisher Asset Management LLC now owns 16,092,964 shares of the enterprise software provider’s stock valued at $885,596,000 after buying an additional 525,562 shares during the last quarter. Polen Capital Management LLC increased its stake in Oracle by 3.1% during the second quarter. Polen Capital Management LLC now owns 14,444,171 shares of the enterprise software provider’s stock worth $822,884,000 after purchasing an additional 430,254 shares during the period. Morgan Stanley increased its stake in Oracle by 7.2% during the second quarter. Morgan Stanley now owns 11,681,563 shares of the enterprise software provider’s stock worth $665,498,000 after purchasing an additional 785,777 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in Oracle by 2.4% during the second quarter. UBS Asset Management Americas Inc. now owns 10,643,853 shares of the enterprise software provider’s stock worth $606,380,000 after purchasing an additional 246,709 shares during the period. 53.90% of the stock is currently owned by institutional investors.
Shares of ORCL stock traded up $0.51 during trading hours on Friday, reaching $56.49. 5,708,292 shares of the stock were exchanged, compared to its average volume of 9,699,096. The business’s fifty day moving average is $54.79 and its two-hundred day moving average is $54.81. The company has a debt-to-equity ratio of 2.67, a current ratio of 2.25 and a quick ratio of 2.25. Oracle Co. has a 12-month low of $42.40 and a 12-month high of $60.50. The firm has a market capitalization of $182.74 billion, a P/E ratio of 17.88, a P/E/G ratio of 1.65 and a beta of 1.16.
Oracle (NYSE:ORCL) last released its earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.09. Oracle had a net margin of 27.71% and a return on equity of 48.85%. The firm had revenue of $9.22 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period in the prior year, the firm earned $0.71 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities research analysts predict 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 paid a dividend of $0.24 per share. The ex-dividend date was Wednesday, October 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.70%. Oracle’s payout ratio is 30.38%.
Oracle declared that its Board of Directors has initiated a share buyback plan on Wednesday, September 11th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the enterprise software provider to repurchase up to 8.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
A number of analysts have issued reports on the stock. ValuEngine lowered shares of Oracle from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. Needham & Company LLC reiterated a “hold” rating on shares of Oracle in a research note on Wednesday, October 30th. Jefferies Financial Group lowered shares of Oracle from a “buy” rating to a “hold” rating and cut their price target for the stock from $66.00 to $60.00 in a research note on Monday, October 7th. Wedbush reiterated a “neutral” rating and set a $55.00 price target on shares of Oracle in a research note on Friday, September 13th. Finally, Goldman Sachs Group set a $62.00 price target on shares of Oracle and gave the stock a “buy” rating in a research note on Friday, September 20th. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $56.80.
In related news, Director Hector Garcia-Molina sold 4,643 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $56.59, for a total value of $262,747.37. Following the completion of the transaction, the director now directly owns 38,562 shares of the company’s stock, valued at $2,182,223.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark V. Hurd sold 787,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 1,038,755 shares of the company’s stock, valued at $53,807,509. The disclosure for this sale can be found here. Insiders have sold 849,786 shares of company stock worth $44,213,156 over the last 90 days. 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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