US Bancorp DE Lowers Stake in Oracle Co. (ORCL)

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US Bancorp DE lessened its holdings in Oracle Co. (NYSE:ORCL) by 3.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,721,332 shares of the enterprise software provider’s stock after selling 67,832 shares during the quarter. US Bancorp DE’s holdings in Oracle were worth $88,752,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ORCL. Truvestments Capital LLC purchased a new stake in Oracle during the third quarter valued at approximately $107,000. WESPAC Advisors SoCal LLC purchased a new stake in Oracle during the third quarter valued at approximately $119,000. ELM Advisors LLC purchased a new stake in Oracle during the third quarter valued at approximately $122,000. Palo Capital Inc. purchased a new stake in Oracle during the third quarter valued at approximately $141,000. Finally, Kiley Juergens Wealth Management LLC lifted its position in Oracle by 70.9% during the third quarter. Kiley Juergens Wealth Management LLC now owns 2,747 shares of the enterprise software provider’s stock valued at $141,000 after acquiring an additional 1,140 shares during the last quarter. 53.38% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on the stock. Barclays raised their price target on shares of Oracle from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, September 7th. Nomura set a $58.00 price target on shares of Oracle and gave the stock a “buy” rating in a report on Tuesday, September 18th. Bank of America raised their price target on shares of Oracle from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, September 18th. Wells Fargo & Co decreased their price target on shares of Oracle from $62.50 to $60.00 and set an “outperform” rating for the company in a report on Tuesday, September 18th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $60.00 price target on shares of Oracle in a report on Tuesday, September 18th. Seventeen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $53.71.

NYSE:ORCL opened at $49.02 on Tuesday. The firm has a market capitalization of $202.14 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 1.64 and a beta of 1.12. Oracle Co. has a 1-year low of $42.57 and a 1-year high of $53.48. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 1.41.

Oracle (NYSE:ORCL) last released its quarterly earnings data on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. The firm had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.26 billion. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 earnings per share. Research analysts predict that Oracle Co. will post 3.06 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 30th. Stockholders of record on Tuesday, October 16th were paid a $0.19 dividend. The ex-dividend date was Monday, October 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.55%. Oracle’s payout ratio is currently 26.95%.

Oracle announced that its board has approved a stock buyback plan on Monday, September 17th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the enterprise software provider to buy up to 5.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

In related news, EVP Dorian Daley sold 131,696 shares of the firm’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $50.93, for a total transaction of $6,707,277.28. Following the sale, the executive vice president now owns 109,615 shares in the company, valued at $5,582,691.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $185,325.00. Following the sale, the director now owns 27,969 shares in the company, valued at approximately $1,382,227.98. The disclosure for this sale can be found here. Insiders sold 142,946 shares of company stock worth $7,248,965 in the last quarter. Company insiders own 32.00% of the company’s stock.

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About Oracle

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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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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