Snow Capital Management LP acquired a new stake in Oracle Co. (NYSE:ORCL) during the 4th quarter, HoldingsChannel reports. The fund acquired 70,715 shares of the enterprise software provider’s stock, valued at approximately $3,343,000.
Other hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Oracle by 24.8% during the 2nd quarter. FMR LLC now owns 33,082,375 shares of the enterprise software provider’s stock valued at $1,658,750,000 after buying an additional 6,577,297 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Oracle by 50.2% during the 4th quarter. Mackenzie Financial Corp now owns 16,111,806 shares of the enterprise software provider’s stock valued at $761,766,000 after buying an additional 5,387,078 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Oracle by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock valued at $10,350,996,000 after buying an additional 5,270,359 shares during the period. Boston Partners lifted its holdings in shares of Oracle by 24.4% during the 3rd quarter. Boston Partners now owns 23,924,971 shares of the enterprise software provider’s stock valued at $1,156,772,000 after buying an additional 4,699,334 shares during the period. Finally, OppenheimerFunds Inc. lifted its holdings in shares of Oracle by 81.8% during the 4th quarter. OppenheimerFunds Inc. now owns 6,531,857 shares of the enterprise software provider’s stock valued at $308,826,000 after buying an additional 2,938,638 shares during the period. 57.94% of the stock is currently owned by institutional investors and hedge funds.
ORCL has been the topic of several research analyst reports. Vetr cut Oracle from a “buy” rating to a “hold” rating and set a $51.82 price target on the stock. in a report on Wednesday, January 17th. Credit Suisse Group lowered their price target on Oracle from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday, March 20th. ValuEngine raised Oracle from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Stifel Nicolaus cut Oracle from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a report on Tuesday, March 20th. Finally, Royal Bank of Canada set a $51.00 price target on Oracle and gave the company a “neutral” rating in a report on Monday, January 22nd. Seventeen analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Oracle currently has a consensus rating of “Buy” and an average price target of $56.11.
Oracle (NYSE:ORCL) last issued its quarterly earnings data on Monday, March 19th. The enterprise software provider reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.11. The firm had revenue of $9.78 billion during the quarter, compared to analyst estimates of $9.77 billion. Oracle had a return on equity of 21.77% and a net margin of 9.25%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. analysts expect that Oracle Co. will post 2.76 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 17th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, April 16th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.65%. Oracle’s payout ratio is 30.52%.
Oracle declared that its Board of Directors has authorized a share buyback plan on Friday, February 2nd that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the enterprise software provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, insider Thomas Kurian sold 1,700,000 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $50.29, for a total transaction of $85,493,000.00. Following the completion of the transaction, the insider now owns 1,522,983 shares in the company, valued at $76,590,815.07. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $49.72, for a total value of $186,450.00. Following the transaction, the director now owns 18,125 shares of the company’s stock, valued at approximately $901,175. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,056,250 shares of company stock valued at $102,760,938. Company insiders own 29.00% of the company’s stock.
Oracle Company Profile
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure technologies for information technology (IT) environments worldwide. It 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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