Harrington Investments INC increased its stake in shares of Oracle Co. (NYSE:ORCL) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,201 shares of the enterprise software provider’s stock after buying an additional 4,548 shares during the quarter. Oracle comprises approximately 1.8% of Harrington Investments INC’s investment portfolio, making the stock its 24th biggest position. Harrington Investments INC’s holdings in Oracle were worth $2,137,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acrospire Investment Management LLC lifted its stake in Oracle by 947.4% during the second quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after purchasing an additional 1,800 shares during the last quarter. Tarbox Family Office Inc. lifted its stake in Oracle by 71.1% during the fourth quarter. Tarbox Family Office Inc. now owns 2,322 shares of the enterprise software provider’s stock worth $110,000 after purchasing an additional 965 shares during the last quarter. IHT Wealth Management LLC lifted its stake in Oracle by 65.9% during the second quarter. IHT Wealth Management LLC now owns 2,383 shares of the enterprise software provider’s stock worth $154,000 after purchasing an additional 947 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its stake in Oracle by 81,200.0% during the third quarter. Wealthcare Advisory Partners LLC now owns 2,439 shares of the enterprise software provider’s stock worth $118,000 after purchasing an additional 2,436 shares during the last quarter. Finally, ETF Managers Group LLC bought a new stake in Oracle during the second quarter worth $133,000. Hedge funds and other institutional investors own 58.03% of the company’s stock.
Shares of Oracle Co. (NYSE:ORCL) opened at $52.58 on Wednesday. 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 1-year low of $42.40 and a 1-year high of $53.48. The firm has a market capitalization of $217,660.00, a PE ratio of 22.57, a price-to-earnings-growth ratio of 2.02 and a beta of 1.05.
Oracle announced that its Board of Directors has approved a stock buyback plan on Thursday, December 14th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the enterprise software provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Several equities research analysts have weighed in on ORCL shares. Wedbush restated a “buy” rating and set a $58.00 target price on shares of Oracle in a research note on Friday, December 15th. Goldman Sachs Group set a $58.00 target price on Oracle and gave the stock a “buy” rating in a research note on Friday, December 15th. Canaccord Genuity cut their target price on Oracle from $57.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, December 15th. Jefferies Group set a $61.00 price target on Oracle and gave the company a “buy” rating in a research note on Friday, December 15th. Finally, JPMorgan Chase & Co. set a $55.00 price target on Oracle and gave the company a “buy” rating in a research note on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $55.76.
In other Oracle news, EVP Dorian Daley sold 100,000 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the completion of the sale, the executive vice president now directly owns 136,954 shares in the company, valued at approximately $6,517,640.86. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas Kurian sold 1,700,000 shares of the stock in a transaction dated 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 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 quarter, insiders have sold 1,956,250 shares of company stock valued at $98,316,475. Company insiders own 29.00% of the company’s stock.
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Oracle Company Profile
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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