Ropes Wealth Advisors LLC lifted its stake in shares of Oracle Co. (NYSE:ORCL) by 12.5% in the 3rd quarter, Holdings Channel reports. The firm owned 50,585 shares of the enterprise software provider’s stock after buying an additional 5,615 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Oracle were worth $2,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd raised its position in Oracle by 44.5% in the second quarter. IFM Investors Pty Ltd now owns 140,692 shares of the enterprise software provider’s stock worth $6,199,000 after acquiring an additional 43,333 shares in the last quarter. JLB & Associates Inc. increased its position in shares of Oracle by 0.7% in the second quarter. JLB & Associates Inc. now owns 233,265 shares of the enterprise software provider’s stock valued at $10,277,000 after buying an additional 1,700 shares in the last quarter. Empirical Finance LLC purchased a new position in shares of Oracle in the second quarter valued at $254,000. Fisher Asset Management LLC increased its position in shares of Oracle by 3.7% in the second quarter. Fisher Asset Management LLC now owns 13,638,193 shares of the enterprise software provider’s stock valued at $600,899,000 after buying an additional 486,452 shares in the last quarter. Finally, Nadler Financial Group Inc. increased its position in shares of Oracle by 120.7% in the second quarter. Nadler Financial Group Inc. now owns 32,171 shares of the enterprise software provider’s stock valued at $1,417,000 after buying an additional 17,591 shares in the last quarter. Institutional investors and hedge funds own 53.45% of the company’s stock.
ORCL has been the subject of a number of research analyst reports. Barclays raised their price target on Oracle from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, September 7th. Nomura set a $58.00 price target on Oracle and gave the company a “buy” rating in a research report on Tuesday, September 18th. Bank of America raised their price target on Oracle from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, September 18th. Wells Fargo & Co dropped their price target on Oracle from $62.50 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday, September 18th. Finally, Credit Suisse Group restated a “buy” rating and issued a $60.00 price target on shares of Oracle in a research report on Tuesday, September 18th. Seventeen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Oracle has an average rating of “Hold” and an average target price of $53.71.
Oracle (NYSE:ORCL) last issued its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. Oracle had a return on equity of 25.60% and a net margin of 9.74%. The firm had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.26 billion. During the same period last year, the company earned $0.62 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. Sell-side analysts expect that Oracle Co. will post 3.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 30th. Stockholders of record on Tuesday, October 16th were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, October 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.56%. Oracle’s dividend payout ratio (DPR) is 26.95%.
Oracle declared that its board has approved a share repurchase program on Monday, September 17th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the enterprise software provider to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $47.26, for a total value of $177,225.00. Following the transaction, the director now directly owns 27,969 shares in the company, valued at approximately $1,321,814.94. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Dorian Daley sold 131,696 shares of the firm’s stock in a transaction dated Monday, September 24th. The stock was 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 in the company, 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 worth $7,248,965. Company insiders own 32.00% of the company’s stock.
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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