Private Advisor Group LLC cut its holdings in shares of Oracle Co. (NYSE:ORCL) by 4.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,924 shares of the enterprise software provider’s stock after selling 3,339 shares during the period. Private Advisor Group LLC’s holdings in Oracle were worth $4,553,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Evolution Wealth Advisors LLC boosted its position in Oracle by 346.0% in the second quarter. Evolution Wealth Advisors LLC now owns 446 shares of the enterprise software provider’s stock worth $25,000 after purchasing an additional 346 shares during the last quarter. Covenant Multifamily Offices LLC purchased a new position in Oracle in the first quarter worth about $35,000. Next Capital Management LLC purchased a new position in Oracle in the second quarter worth about $36,000. Shamrock Asset Management LLC boosted its position in Oracle by 577.0% in the second quarter. Shamrock Asset Management LLC now owns 677 shares of the enterprise software provider’s stock worth $39,000 after purchasing an additional 577 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. purchased a new position in Oracle in the second quarter worth about $40,000. 53.05% of the stock is currently owned by institutional investors.
Several research analysts have recently commented on the company. Cowen assumed coverage on Oracle in a research note on Friday, August 16th. They issued a “buy” rating and a $65.00 price objective on the stock. UBS Group set a $57.00 price objective on Oracle and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Macquarie reaffirmed a “hold” rating on shares of Oracle in a research note on Thursday, September 12th. Sanford C. Bernstein set a $66.00 price objective on Oracle and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, Barclays decreased their price objective on Oracle from $59.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $56.49.
Oracle (NYSE:ORCL) last released its quarterly earnings data on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.09. Oracle had a return on equity of 48.85% and a net margin of 27.71%. The business had revenue of $9.22 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the previous year, the company posted $0.71 EPS. The company’s revenue was up .2% compared to the same quarter last year. As a group, equities analysts anticipate that Oracle Co. will post 3.47 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 10th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Wednesday, October 9th. Oracle’s payout ratio is 30.38%.
Oracle declared that its Board of Directors has approved a share buyback program on Wednesday, September 11th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to reacquire up to 8.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
In other news, Director Hector Garcia-Molina sold 4,643 shares of Oracle stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $53.14, for a total value of $246,729.02. Following the completion of the transaction, the director now owns 38,562 shares in the company, valued at approximately $2,049,184.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark V. Hurd sold 787,500 shares of Oracle stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $56.29, for a total value of $44,328,375.00. Following the completion of the transaction, the chief executive officer now owns 874,871 shares of the company’s stock, valued at approximately $49,246,488.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,144,643 shares of company stock worth $117,748,154. Corporate 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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