Man Group plc cut its stake in shares of Oracle Co. (NYSE:ORCL) by 58.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 705,078 shares of the enterprise software provider’s stock after selling 1,001,756 shares during the period. Man Group plc’s holdings in Oracle were worth $37,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of the company. First National Bank of South Miami increased its position in Oracle by 104.6% during the fourth quarter. First National Bank of South Miami now owns 489 shares of the enterprise software provider’s stock valued at $26,000 after acquiring an additional 250 shares during the last quarter. Lloyd Advisory Services LLC. purchased a new stake in shares of Oracle in the fourth quarter valued at $26,000. Samalin Investment Counsel LLC purchased a new stake in shares of Oracle in the fourth quarter valued at $27,000. Solstein Capital LLC bought a new stake in shares of Oracle in the 4th quarter worth about $33,000. Finally, ERTS Wealth Advisors LLC bought a new stake in shares of Oracle in the 4th quarter worth about $36,000. 51.90% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Dorian Daley sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bruce R. Chizen sold 225,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $54.64, for a total value of $12,294,000.00. Following the sale, the director now directly owns 135,813 shares in the company, valued at approximately $7,420,822.32. The disclosure for this sale can be found here. Company insiders own 36.60% of the company’s stock.
Several brokerages recently commented on ORCL. Wells Fargo & Co cut their price target on shares of Oracle from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, March 13th. Goldman Sachs Group reissued a “buy” rating and issued a $62.00 price objective on shares of Oracle in a research report on Monday, December 16th. Nomura restated a “sell” rating and set a $41.00 target price (down previously from $42.00) on shares of Oracle in a research report on Sunday, December 15th. JPMorgan Chase & Co. upgraded Oracle from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $51.00 to $55.00 in a research report on Friday, March 20th. Finally, Credit Suisse Group cut their target price on Oracle from $62.00 to $57.00 and set an “outperform” rating on the stock in a research note on Friday, March 13th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $53.29.
ORCL opened at $45.94 on Thursday. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 3.31. The stock’s fifty day moving average is $50.60 and its two-hundred day moving average is $53.63. The company has a market capitalization of $150.87 billion, a P/E ratio of 14.45, a PEG ratio of 1.41 and a beta of 1.07. Oracle Co. has a 52 week low of $39.71 and a 52 week high of $60.50.
Oracle (NYSE:ORCL) last issued its earnings results on Thursday, March 12th. The enterprise software provider reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.01. Oracle had a return on equity of 64.68% and a net margin of 27.06%. The business had revenue of $9.80 billion during the quarter, compared to analysts’ expectations of $9.75 billion. During the same period in the prior year, the business earned $0.87 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts anticipate that Oracle Co. will post 3.49 earnings per share for the current year.
Oracle announced that its board has approved a stock buyback plan on Thursday, March 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the enterprise software provider to purchase up to 9.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 23rd. Shareholders of record on Thursday, April 9th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, April 8th. This represents a $0.96 annualized dividend and a yield of 2.09%. Oracle’s dividend payout ratio (DPR) is presently 30.38%.
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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