Bank of The West decreased its position in shares of Oracle Co. (NYSE:ORCL) by 34.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,580 shares of the enterprise software provider’s stock after selling 19,624 shares during the period. Bank of The West’s holdings in Oracle were worth $1,886,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Truvestments Capital LLC purchased a new stake in Oracle during the 3rd quarter valued at approximately $107,000. WESPAC Advisors SoCal LLC purchased a new stake in Oracle during the 3rd quarter valued at approximately $119,000. ELM Advisors LLC purchased a new stake in Oracle during the 3rd quarter valued at approximately $122,000. Kiley Juergens Wealth Management LLC grew its holdings in Oracle by 70.9% during the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 2,747 shares of the enterprise software provider’s stock valued at $141,000 after buying an additional 1,140 shares in the last quarter. Finally, Palo Capital Inc. purchased a new stake in Oracle during the 3rd quarter valued at approximately $141,000. Institutional investors own 53.38% of the company’s stock.
ORCL has been the subject of a number of research analyst reports. Credit Suisse Group reaffirmed a “buy” rating and set a $60.00 price objective on shares of Oracle in a report on Wednesday, October 24th. Zacks Investment Research raised shares of Oracle from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. Citigroup cut their price objective on shares of Oracle from $51.00 to $49.00 and set a “neutral” rating for the company in a report on Tuesday, September 18th. Stifel Nicolaus reaffirmed a “hold” rating and set a $49.00 price objective (down from $50.00) on shares of Oracle in a report on Tuesday, September 18th. Finally, Barclays increased their price objective on shares of Oracle from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, September 7th. Seventeen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $53.71.
In related news, EVP Dorian Daley sold 131,696 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 109,615 shares in the company, valued at $5,582,691.95. The sale was disclosed in a filing 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, October 15th. The stock was sold at an average price of $47.26, for a total value of $177,225.00. Following the completion of the sale, the director now owns 27,969 shares of the company’s stock, valued at $1,321,814.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 142,946 shares of company stock valued at $7,248,965. 32.00% of the stock is owned by corporate insiders.
ORCL stock opened at $50.61 on Friday. Oracle Co. has a fifty-two week low of $42.57 and a fifty-two week high of $53.48. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $203.88 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 1.65 and a beta of 1.12.
Oracle (NYSE:ORCL) last posted its earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The firm had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.26 billion. During the same period last year, the firm posted $0.62 earnings per share. Oracle’s revenue for the quarter was up .8% compared to the same quarter last year. Analysts predict that Oracle Co. will post 3.06 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 30th. Investors of record on Tuesday, October 16th were given a $0.19 dividend. The ex-dividend date was Monday, October 15th. This represents a $0.76 dividend on an annualized basis and a yield of 1.50%. Oracle’s dividend payout ratio is presently 26.95%.
Oracle announced that its Board of Directors has initiated a share repurchase program on Monday, September 17th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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