Wesbanco Bank Inc. decreased its holdings in shares of Oracle Co. (NYSE:ORCL) by 50.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,835 shares of the enterprise software provider’s stock after selling 123,100 shares during the quarter. Wesbanco Bank Inc.’s holdings in Oracle were worth $5,619,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Beach Investment Management LLC. bought a new position in Oracle during the 2nd quarter worth $336,000. GHP Investment Advisors Inc. increased its position in Oracle by 4.2% during the 2nd quarter. GHP Investment Advisors Inc. now owns 76,114 shares of the enterprise software provider’s stock worth $3,816,000 after buying an additional 3,081 shares during the period. Prudential Financial Inc. increased its position in Oracle by 9.4% during the 2nd quarter. Prudential Financial Inc. now owns 9,945,223 shares of the enterprise software provider’s stock worth $498,653,000 after buying an additional 857,380 shares during the period. Intrust Bank NA increased its position in Oracle by 4.8% during the 2nd quarter. Intrust Bank NA now owns 21,503 shares of the enterprise software provider’s stock worth $1,079,000 after buying an additional 980 shares during the period. Finally, Penserra Capital Management LLC increased its position in Oracle by 13.0% during the 2nd quarter. Penserra Capital Management LLC now owns 4,940 shares of the enterprise software provider’s stock worth $247,000 after buying an additional 570 shares during the period. 58.03% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently commented on ORCL shares. Goldman Sachs Group set a $58.00 price target on Oracle and gave the stock a “buy” rating in a research report on Friday, December 15th. Canaccord Genuity decreased their price target on Oracle from $57.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, December 15th. Jefferies Group set a $61.00 price target on Oracle and gave the stock a “buy” rating in a research report on Friday, December 15th. JPMorgan Chase & Co. set a $55.00 price target on Oracle and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Finally, Drexel Hamilton restated a “buy” rating and issued a $62.00 price target on shares of Oracle in a research report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $55.76.
Oracle (NYSE:ORCL) last posted its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. The company had revenue of $9.63 billion for the quarter, compared to analyst estimates of $9.57 billion. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 earnings per share. analysts predict that Oracle Co. will post 2.68 EPS for the current year.
Oracle announced that its Board of Directors has authorized a share buyback program on Thursday, December 14th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the enterprise software provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $49.66, for a total value of $186,225.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Kurian sold 1,700,000 shares of Oracle stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $50.29, for a total value of $85,493,000.00. Following the completion of the sale, the insider now owns 1,522,983 shares of the company’s stock, valued at $76,590,815.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,956,250 shares of company stock worth $98,316,475. 29.00% of the stock is owned by insiders.
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Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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