Magellan Asset Management Ltd Has $1.59 Billion Holdings in Oracle Co. (ORCL)

Magellan Asset Management Ltd raised its stake in Oracle Co. (NYSE:ORCL) by 11.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,787,975 shares of the enterprise software provider’s stock after buying an additional 3,124,391 shares during the quarter. Oracle accounts for about 5.2% of Magellan Asset Management Ltd’s portfolio, making the stock its 11th largest position. Magellan Asset Management Ltd owned approximately 0.74% of Oracle worth $1,587,428,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ORCL. FMR LLC increased its holdings in shares of Oracle by 21.4% in the second quarter. FMR LLC now owns 47,683,832 shares of the enterprise software provider’s stock worth $2,100,949,000 after acquiring an additional 8,401,411 shares in the last quarter. Charles Schwab Investment Advisory Inc. bought a new stake in shares of Oracle in the second quarter worth about $218,896,000. Franklin Resources Inc. increased its holdings in shares of Oracle by 13.1% in the third quarter. Franklin Resources Inc. now owns 29,336,984 shares of the enterprise software provider’s stock worth $1,512,636,000 after acquiring an additional 3,393,152 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Oracle by 186.4% in the third quarter. Renaissance Technologies LLC now owns 3,092,232 shares of the enterprise software provider’s stock worth $159,435,000 after acquiring an additional 2,012,432 shares in the last quarter. Finally, Putnam Investments LLC increased its holdings in shares of Oracle by 202.1% in the second quarter. Putnam Investments LLC now owns 2,136,058 shares of the enterprise software provider’s stock worth $94,115,000 after acquiring an additional 1,428,924 shares in the last quarter. 50.97% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:ORCL opened at $46.00 on Friday. 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 stock has a market cap of $193.24 billion, a P/E ratio of 16.31, a PEG ratio of 1.57 and a beta of 1.11. Oracle Co. has a 52-week low of $42.57 and a 52-week high of $53.48.

Oracle (NYSE:ORCL) last posted its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. The firm had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.26 billion. Oracle had a return on equity of 25.60% and a net margin of 9.74%. The business’s revenue was up .8% compared to the same quarter last year. During the same period last year, the company earned $0.62 earnings per share. On average, research analysts predict that Oracle Co. will post 3.06 earnings per share for the current year.

Oracle declared that its board has authorized a share buyback plan on Monday, September 17th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Several brokerages have issued reports on ORCL. Zacks Investment Research upgraded Oracle from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. Societe Generale set a $50.00 price target on Oracle and gave the stock a “neutral” rating in a report on Tuesday, August 14th. Needham & Company LLC began coverage on Oracle in a report on Monday, October 22nd. They issued a “hold” rating for the company. JPMorgan Chase & Co. restated a “neutral” rating and issued a $53.00 price target on shares of Oracle in a report on Tuesday, September 18th. Finally, Goldman Sachs Group restated a “buy” rating and issued a $55.00 price target on shares of Oracle in a report on Tuesday, September 18th. Seventeen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $53.71.

In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $50.01, for a total value of $187,537.50. Following the completion of the transaction, the director now directly owns 27,969 shares in the company, valued at $1,398,729.69. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Dorian Daley sold 131,696 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $50.93, for a total value of $6,707,277.28. Following the completion of the transaction, the executive vice president now owns 109,615 shares of the company’s stock, valued at $5,582,691.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 142,946 shares of company stock valued at $7,257,365. Corporate insiders own 32.00% of the company’s stock.

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About Oracle

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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