First Hawaiian Bank lifted its stake in shares of Oracle Co. (NYSE:ORCL) by 1,508.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 107,355 shares of the enterprise software provider’s stock after buying an additional 100,680 shares during the quarter. First Hawaiian Bank’s holdings in Oracle were worth $5,535,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in ORCL. Stewardship Financial Advisors LLC purchased a new stake in Oracle during the first quarter worth approximately $491,000. Mariner LLC lifted its stake in Oracle by 84.6% during the first quarter. Mariner LLC now owns 36,236 shares of the enterprise software provider’s stock worth $1,658,000 after purchasing an additional 16,602 shares during the last quarter. Kovack Advisors Inc. lifted its stake in Oracle by 26.4% during the first quarter. Kovack Advisors Inc. now owns 12,023 shares of the enterprise software provider’s stock worth $550,000 after purchasing an additional 2,513 shares during the last quarter. Freestone Capital Holdings LLC lifted its stake in Oracle by 2.9% during the first quarter. Freestone Capital Holdings LLC now owns 462,140 shares of the enterprise software provider’s stock worth $21,143,000 after purchasing an additional 12,961 shares during the last quarter. Finally, Glenview Trust Co lifted its stake in Oracle by 97.6% during the first quarter. Glenview Trust Co now owns 73,655 shares of the enterprise software provider’s stock worth $3,370,000 after purchasing an additional 36,383 shares during the last quarter. 53.43% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on the company. Societe Generale set a $50.00 target price on Oracle and gave the stock a “neutral” rating in a research note on Tuesday, August 14th. Zacks Investment Research upgraded Oracle from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. UBS Group cut Oracle from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $53.00 to $48.00 in a research note on Wednesday, June 20th. JPMorgan Chase & Co. restated a “neutral” rating and set a $53.00 target price on shares of Oracle in a research note on Tuesday, September 18th. Finally, TheStreet upgraded Oracle from a “c+” rating to a “b” rating in a research note on Tuesday, June 19th. Sixteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $53.92.
Shares of NYSE ORCL opened at $48.23 on Wednesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.43 and a quick ratio of 3.43. Oracle Co. has a twelve month low of $42.57 and a twelve month high of $53.48. The company has a market capitalization of $213.44 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.72 and a beta of 1.14.
Oracle (NYSE:ORCL) last issued its quarterly earnings data on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. Oracle had a return on equity of 25.60% and a net margin of 9.74%. The company had revenue of $9.20 billion during the quarter, compared to analysts’ expectations of $9.26 billion. During the same quarter in the previous year, the business earned $0.62 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. As a group, sell-side analysts anticipate that Oracle Co. will post 3.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 30th. Shareholders of record on Tuesday, October 16th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Monday, October 15th. Oracle’s dividend payout ratio is currently 26.95%.
Oracle declared that its board has initiated a share buyback plan on Monday, September 17th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the enterprise software provider to reacquire up to 5.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In other news, EVP Dorian Daley sold 131,696 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $50.93, for a total value of $6,707,277.28. Following the transaction, the executive vice president now owns 109,615 shares of the company’s stock, valued at $5,582,691.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $49.42, for a total value of $185,325.00. Following the completion of the transaction, the director now directly owns 27,969 shares in the company, valued at approximately $1,382,227.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 142,946 shares of company stock valued at $7,248,965. 32.00% of the stock is owned by company insiders.
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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