Phoenix Holdings Ltd. trimmed its position in Oracle Co. (NYSE:ORCL) by 4.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 560,000 shares of the enterprise software provider’s stock after selling 24,526 shares during the period. Oracle accounts for approximately 1.2% of Phoenix Holdings Ltd.’s investment portfolio, making the stock its 23rd biggest position. Phoenix Holdings Ltd.’s holdings in Oracle were worth $29,464,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. raised its position in Oracle by 68.5% during the 4th quarter. Franklin Resources Inc. now owns 23,962,890 shares of the enterprise software provider’s stock worth $1,269,542,000 after purchasing an additional 9,739,302 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of Oracle by 21.7% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 14,698,021 shares of the enterprise software provider’s stock worth $778,701,000 after acquiring an additional 2,624,509 shares in the last quarter. Sound Shore Management Inc. CT acquired a new stake in shares of Oracle in the 4th quarter valued at about $113,949,000. DNB Asset Management AS grew its stake in shares of Oracle by 45.1% in the 4th quarter. DNB Asset Management AS now owns 5,823,307 shares of the enterprise software provider’s stock valued at $308,519,000 after buying an additional 1,811,137 shares during the period. Finally, AJO LP grew its stake in shares of Oracle by 75.4% in the 4th quarter. AJO LP now owns 3,521,167 shares of the enterprise software provider’s stock valued at $186,550,000 after buying an additional 1,513,450 shares during the period. Institutional investors own 51.90% of the company’s stock.
In related news, Director Bruce R. Chizen sold 225,000 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $54.64, for a total value of $12,294,000.00. Following the completion of the transaction, the director now directly owns 135,813 shares of the company’s stock, valued at $7,420,822.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Dorian Daley sold 50,000 shares of the stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $55.01, for a total transaction of $2,750,500.00. Following the completion of the transaction, the executive vice president now directly owns 50,000 shares of the company’s stock, valued at $2,750,500. The disclosure for this sale can be found here. Corporate insiders own 36.60% of the company’s stock.
A number of equities analysts have issued reports on ORCL shares. UBS Group cut their price target on Oracle from $57.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, March 13th. Societe Generale raised shares of Oracle from a “hold” rating to a “buy” rating and lowered their price target for the stock from $62.00 to $61.00 in a report on Wednesday, March 4th. Wells Fargo & Co lowered their price target on shares of Oracle from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, March 13th. BMO Capital Markets lowered their price target on shares of Oracle from $62.00 to $46.00 and set a “market perform” rating on the stock in a report on Friday, March 13th. Finally, Raymond James lowered their price target on shares of Oracle from $61.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, March 13th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $52.81.
Shares of ORCL traded up $4.54 during mid-day trading on Thursday, reaching $50.48. 22,417,252 shares of the stock traded hands, compared to its average volume of 14,198,283. The firm has a fifty day moving average price of $50.60 and a 200 day moving average price of $53.63. The company has a market cap of $150.87 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 3.31. Oracle Co. has a 1 year low of $39.71 and a 1 year high of $60.50.
Oracle (NYSE:ORCL) last announced its earnings results on Thursday, March 12th. The enterprise software provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. Oracle had a net margin of 27.06% and a return on equity of 64.68%. The company had revenue of $9.80 billion during the quarter, compared to analyst estimates of $9.75 billion. During the same period in the previous year, the business earned $0.87 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Oracle Co. will post 3.49 EPS for the current year.
Oracle declared that its board has initiated a share buyback program on Thursday, March 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to repurchase up to 9.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 23rd. Shareholders of record on Thursday, April 9th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, April 8th. This represents a $0.96 annualized dividend and a yield of 1.90%. Oracle’s payout ratio is 30.38%.
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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