Cullen Frost Bankers Inc. lifted its position in Oracle Co. (NYSE:ORCL) by 15.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,788 shares of the enterprise software provider’s stock after buying an additional 3,095 shares during the period. Cullen Frost Bankers Inc.’s holdings in Oracle were worth $1,309,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Neville Rodie & Shaw Inc. increased its holdings in Oracle by 1.2% in the 2nd quarter. Neville Rodie & Shaw Inc. now owns 176,654 shares of the enterprise software provider’s stock worth $10,064,000 after acquiring an additional 2,169 shares in the last quarter. Thomasville National Bank increased its holdings in Oracle by 1.5% in the 2nd quarter. Thomasville National Bank now owns 20,351 shares of the enterprise software provider’s stock worth $1,160,000 after acquiring an additional 300 shares in the last quarter. Private Trust Co. NA increased its holdings in Oracle by 2.0% in the 2nd quarter. Private Trust Co. NA now owns 22,626 shares of the enterprise software provider’s stock worth $1,289,000 after acquiring an additional 435 shares in the last quarter. Baystate Wealth Management LLC increased its holdings in Oracle by 56.8% in the 2nd quarter. Baystate Wealth Management LLC now owns 4,987 shares of the enterprise software provider’s stock worth $289,000 after acquiring an additional 1,806 shares in the last quarter. Finally, Rockland Trust Co. increased its holdings in Oracle by 2.6% in the 2nd quarter. Rockland Trust Co. now owns 8,262 shares of the enterprise software provider’s stock worth $471,000 after acquiring an additional 209 shares in the last quarter. Institutional investors own 53.90% of the company’s stock.
Several equities research analysts recently commented on the stock. William Blair reissued a “hold” rating on shares of Oracle in a report on Thursday, September 12th. Monness Crespi & Hardt reissued a “hold” rating on shares of Oracle in a report on Tuesday, September 10th. Goldman Sachs Group set a $62.00 price target on shares of Oracle and gave the stock a “buy” rating in a report on Friday, September 20th. Stifel Nicolaus reissued a “hold” rating on shares of Oracle in a report on Thursday, September 12th. Finally, UBS Group set a $57.00 price target on shares of Oracle and gave the stock a “neutral” rating in a report on Thursday, September 12th. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $56.80.
In other Oracle news, EVP Dorian Daley sold 50,000 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $55.01, for a total value of $2,750,500.00. Following the transaction, the executive vice president now owns 50,000 shares of the company’s stock, valued at $2,750,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Hector Garcia-Molina sold 4,643 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $56.59, for a total transaction of $262,747.37. Following the completion of the transaction, the director now directly owns 38,562 shares in the company, valued at approximately $2,182,223.58. The disclosure for this sale can be found here. Insiders sold 849,786 shares of company stock worth $44,213,156 in the last ninety days. 36.60% of the stock is currently owned by corporate insiders.
Shares of ORCL traded up $0.29 during mid-day trading on Friday, reaching $56.27. The stock had a trading volume of 2,141,595 shares, compared to its average volume of 9,699,096. The company has a debt-to-equity ratio of 2.67, a current ratio of 2.25 and a quick ratio of 2.25. Oracle Co. has a 52-week low of $42.40 and a 52-week high of $60.50. The business’s fifty day moving average is $54.73 and its 200 day moving average is $54.80. The firm has a market cap of $182.74 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 1.65 and a beta of 1.16.
Oracle (NYSE:ORCL) last announced its quarterly earnings data on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.09. Oracle had a net margin of 27.71% and a return on equity of 48.85%. The firm had revenue of $9.22 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Oracle’s quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts anticipate that Oracle Co. will post 3.47 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th were given a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.96 dividend on an annualized basis and a yield of 1.71%. Oracle’s payout ratio is currently 30.38%.
Oracle announced that its Board of Directors has initiated a stock buyback program on Wednesday, September 11th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the enterprise software provider to buy up to 8.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.
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.
Further Reading: Market Capitalization – What it Means for Investors
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