Zevin Asset Management LLC lessened its stake in Oracle Co. (NYSE:ORCL) by 15.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,910 shares of the enterprise software provider’s stock after selling 3,892 shares during the period. Zevin Asset Management LLC’s holdings in Oracle were worth $1,206,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in ORCL. Neville Rodie & Shaw Inc. boosted its holdings in shares of Oracle by 1.2% during the 2nd quarter. Neville Rodie & Shaw Inc. now owns 176,654 shares of the enterprise software provider’s stock valued at $10,064,000 after acquiring an additional 2,169 shares during the last quarter. Thomasville National Bank increased its position in Oracle by 1.5% in the second quarter. Thomasville National Bank now owns 20,351 shares of the enterprise software provider’s stock worth $1,160,000 after purchasing an additional 300 shares during the last quarter. Private Trust Co. NA increased its position in Oracle by 2.0% in the second quarter. Private Trust Co. NA now owns 22,626 shares of the enterprise software provider’s stock worth $1,289,000 after purchasing an additional 435 shares during the last quarter. Baystate Wealth Management LLC boosted its stake in Oracle by 56.8% during the second quarter. Baystate Wealth Management LLC now owns 4,987 shares of the enterprise software provider’s stock worth $289,000 after buying an additional 1,806 shares during the period. Finally, Rockland Trust Co. boosted its stake in Oracle by 2.6% during the second quarter. Rockland Trust Co. now owns 8,262 shares of the enterprise software provider’s stock worth $471,000 after buying an additional 209 shares during the period. 53.90% of the stock is owned by institutional investors and hedge funds.
ORCL has been the subject of a number of recent research reports. UBS Group set a $57.00 target price on shares of Oracle and gave the stock a “neutral” rating in a report on Thursday, September 12th. Argus restated a “buy” rating on shares of Oracle in a research report on Friday, September 13th. ValuEngine lowered Oracle from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Monness Crespi & Hardt reiterated a “hold” rating on shares of Oracle in a research report on Tuesday, September 10th. Finally, Macquarie reiterated a “hold” rating on shares of Oracle in a research report on Thursday, September 12th. Four research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $56.80.
Oracle stock traded up $0.51 during midday trading on Friday, reaching $56.49. 5,708,292 shares of the stock traded hands, compared to its average volume of 9,699,096. The company has a 50-day simple moving average of $54.79 and a two-hundred day simple moving average of $54.81. Oracle Co. has a 12-month low of $42.40 and a 12-month high of $60.50. The firm has a market cap of $182.74 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 1.65 and a beta of 1.16. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 2.67.
Oracle (NYSE:ORCL) last announced its earnings results on Wednesday, September 11th. The enterprise software provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09. The company had revenue of $9.22 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Oracle had a return on equity of 48.85% and a net margin of 27.71%. Oracle’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the business posted $0.71 EPS. Equities research analysts anticipate that Oracle Co. will post 3.47 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Wednesday, October 9th. Oracle’s payout ratio is presently 30.38%.
Oracle declared that its board has initiated a share buyback plan on Wednesday, September 11th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the enterprise software provider to reacquire up to 8.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In other Oracle news, EVP Dorian Daley sold 50,000 shares of Oracle stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $55.01, for a total transaction 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 SEC, which is available at this link. Also, CEO Mark V. Hurd sold 787,500 shares of Oracle stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $51.80, for a total value of $40,792,500.00. Following the transaction, the chief executive officer now directly owns 1,038,755 shares in the company, valued at approximately $53,807,509. The disclosure for this sale can be found here. Insiders sold a total of 849,786 shares of company stock valued at $44,213,156 in the last quarter. Company insiders own 36.60% of the company’s stock.
Oracle Company Profile
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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