State Treasurer State of Michigan decreased its holdings in Oracle Co. (NYSE:ORCL) by 2.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 893,060 shares of the enterprise software provider’s stock after selling 23,300 shares during the quarter. State Treasurer State of Michigan’s holdings in Oracle were worth $42,224,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Acrospire Investment Management LLC lifted its position in shares of Oracle by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after buying an additional 1,800 shares in the last quarter. Tarbox Family Office Inc. raised its holdings in shares of Oracle by 71.1% in the 4th 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 period. IHT Wealth Management LLC raised its holdings in shares of Oracle by 65.9% in the 2nd 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 period. Wealthcare Advisory Partners LLC raised its holdings in shares of Oracle by 81,200.0% in the 3rd 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 period. Finally, ETF Managers Group LLC bought a new stake in shares of Oracle in the 2nd quarter worth approximately $133,000. 58.03% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Dorian Daley sold 100,000 shares of the company’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $47.59, for a total value of $4,759,000.00. Following the completion of the transaction, the executive vice president now directly owns 136,954 shares in the company, valued at $6,517,640.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’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 completion of the transaction, the director now owns 18,125 shares of the company’s stock, valued at $877,250. The disclosure for this sale can be found here. Insiders sold 1,956,250 shares of company stock valued at $98,316,475 over the last quarter. 29.00% of the stock is owned by company insiders.
Oracle Co. (ORCL) opened at $52.58 on Wednesday. The company has a market cap of $217,660.00, a price-to-earnings ratio of 22.57, 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 1 year low of $42.40 and a 1 year high of $53.48.
Oracle (NYSE:ORCL) last released 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 firm had revenue of $9.63 billion during the quarter, compared to analyst estimates of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.61 EPS. sell-side analysts anticipate that Oracle Co. will post 2.68 earnings per share for the current fiscal year.
Oracle declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 14th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
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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