US Bancorp DE reduced its stake in shares of Oracle Co. (NYSE:ORCL) by 2.3% in the second quarter, Holdings Channel reports. The fund owned 1,789,164 shares of the enterprise software provider’s stock after selling 42,534 shares during the quarter. US Bancorp DE’s holdings in Oracle were worth $78,831,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Summit Trail Advisors LLC lifted its stake in Oracle by 3,754.1% in the first quarter. Summit Trail Advisors LLC now owns 2,535,473 shares of the enterprise software provider’s stock worth $2,535,000 after purchasing an additional 2,469,687 shares during the last quarter. Ceredex Value Advisors LLC bought a new stake in Oracle in the first quarter worth $111,727,000. Sumitomo Mitsui Asset Management Company LTD lifted its stake in Oracle by 787.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,944,051 shares of the enterprise software provider’s stock worth $85,654,000 after purchasing an additional 1,725,077 shares during the last quarter. Flossbach Von Storch AG lifted its stake in Oracle by 92.6% in the first quarter. Flossbach Von Storch AG now owns 2,900,939 shares of the enterprise software provider’s stock worth $132,718,000 after purchasing an additional 1,395,114 shares during the last quarter. Finally, Fiduciary Management Inc. WI lifted its stake in Oracle by 19.7% in the first quarter. Fiduciary Management Inc. WI now owns 8,020,588 shares of the enterprise software provider’s stock worth $366,942,000 after purchasing an additional 1,319,707 shares during the last quarter. 53.65% of the stock is owned by institutional investors.
In related news, EVP Dorian Daley sold 50,000 shares of the business’s stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $45.13, for a total transaction of $2,256,500.00. Following the transaction, the executive vice president now owns 57,267 shares in the company, valued at $2,584,459.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $46.17, for a total transaction of $173,137.50. Following the transaction, the director now owns 27,969 shares in the company, valued at approximately $1,291,328.73. The disclosure for this sale can be found here. Insiders have sold 550,500 shares of company stock worth $24,719,865 in the last quarter. 29.00% of the stock is owned by corporate insiders.
Shares of NYSE:ORCL opened at $48.89 on Thursday. The stock has a market cap of $204.21 billion, a PE ratio of 17.34, a PEG ratio of 1.66 and a beta of 1.14. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 1.21. Oracle Co. has a 12 month low of $42.57 and a 12 month high of $53.48.
Oracle (NYSE:ORCL) last announced its quarterly earnings results on Tuesday, June 19th. The enterprise software provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.05. Oracle had a net margin of 9.61% and a return on equity of 23.14%. The company had revenue of $11.26 billion for the quarter, compared to analysts’ expectations of $11.17 billion. During the same quarter in the previous year, the company earned $0.89 earnings per share. Oracle’s quarterly revenue was up 2.9% on a year-over-year basis. equities analysts anticipate that Oracle Co. will post 3.05 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 31st. Investors of record on Tuesday, July 17th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Monday, July 16th. Oracle’s dividend payout ratio is currently 26.95%.
Several analysts have weighed in on ORCL shares. TheStreet raised shares of Oracle from a “c+” rating to a “b” rating in a research note on Tuesday, June 19th. Credit Suisse Group reissued a “buy” rating and issued a $60.00 price target on shares of Oracle in a research note on Thursday, June 7th. Nomura lowered their price target on shares of Oracle from $64.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, June 14th. KeyCorp reissued a “hold” rating on shares of Oracle in a research note on Friday, June 15th. Finally, Stifel Nicolaus lowered their price target on shares of Oracle from $53.00 to $50.00 and set a “hold” rating for the company in a research note on Wednesday, June 20th. Fifteen analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $55.56.
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: Leveraged Buyout (LBO) Explained
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