Highstreet Asset Management Inc. boosted its stake in Oracle Co. (NYSE:ORCL) by 91.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,283 shares of the enterprise software provider’s stock after acquiring an additional 29,828 shares during the quarter. Highstreet Asset Management Inc.’s holdings in Oracle were worth $2,945,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. ZWJ Investment Counsel Inc. boosted its stake in shares of Oracle by 2.9% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 721,225 shares of the enterprise software provider’s stock valued at $34,100,000 after buying an additional 20,161 shares during the last quarter. LSV Asset Management boosted its stake in shares of Oracle by 80.0% during the 4th quarter. LSV Asset Management now owns 2,374,300 shares of the enterprise software provider’s stock valued at $112,256,000 after buying an additional 1,055,500 shares during the last quarter. Front Row Advisors LLC purchased a new position in shares of Oracle during the 4th quarter valued at approximately $625,000. Howland Capital Management LLC purchased a new position in shares of Oracle during the 4th quarter valued at approximately $210,000. Finally, Wedge Capital Management L L P NC boosted its stake in shares of Oracle by 26.0% during the 4th quarter. Wedge Capital Management L L P NC now owns 1,350,362 shares of the enterprise software provider’s stock valued at $63,845,000 after buying an additional 278,660 shares during the last quarter. Hedge funds and other institutional investors own 58.03% of the company’s stock.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $48.40, for a total transaction of $181,500.00. Following the transaction, the director now directly owns 18,125 shares of the company’s stock, valued at $877,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Naomi O. Seligman sold 45,000 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $51.34, for a total value of $2,310,300.00. Following the transaction, the director now directly owns 62,498 shares in the company, valued at $3,208,647.32. The disclosure for this sale can be found here. Insiders have sold 1,956,250 shares of company stock worth $98,316,475 over the last three months. Corporate insiders own 29.00% of the company’s stock.
Oracle Co. (ORCL) opened at $52.90 on Tuesday. The company has a market capitalization of $219,274.72, a price-to-earnings ratio of 22.70, a PEG ratio of 2.02 and a beta of 1.05. The company has a current ratio of 5.07, a quick ratio of 5.04 and a debt-to-equity ratio of 1.03. Oracle Co. has a fifty-two week low of $42.40 and a fifty-two week high of $53.44.
Oracle (NYSE:ORCL) last issued its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share. sell-side analysts predict that Oracle Co. will post 2.68 EPS for the current fiscal year.
Oracle declared that its Board of Directors has authorized a stock buyback plan on Thursday, December 14th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the enterprise software provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
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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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