Whitnell & Co. Trims Stake in Oracle Co. (NYSE:ORCL)

Whitnell & Co. reduced its position in shares of Oracle Co. (NYSE:ORCL) by 3.2% in the third quarter, Holdings Channel reports. The firm owned 55,881 shares of the enterprise software provider’s stock after selling 1,824 shares during the period. Whitnell & Co.’s holdings in Oracle were worth $3,075,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Associated Banc Corp lifted its stake in Oracle by 8.7% in the second quarter. Associated Banc Corp now owns 18,697 shares of the enterprise software provider’s stock worth $1,065,000 after purchasing an additional 1,502 shares during the last quarter. BSW Wealth Partners bought a new position in shares of Oracle during the second quarter valued at about $297,000. Coastal Investment Advisors Inc. raised its stake in shares of Oracle by 22.8% during the second quarter. Coastal Investment Advisors Inc. now owns 2,575 shares of the enterprise software provider’s stock valued at $148,000 after acquiring an additional 478 shares during the last quarter. Brightworth raised its stake in shares of Oracle by 6.0% during the second quarter. Brightworth now owns 4,979 shares of the enterprise software provider’s stock valued at $284,000 after acquiring an additional 284 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Oracle by 3.9% during the second quarter. Oppenheimer & Co. Inc. now owns 55,677 shares of the enterprise software provider’s stock valued at $3,172,000 after acquiring an additional 2,091 shares during the last quarter. Hedge funds and other institutional investors own 53.90% of the company’s stock.

Shares of NYSE:ORCL traded up $0.51 during 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 stock has a 50-day moving average of $54.79 and a two-hundred day moving average of $54.81. Oracle Co. has a 52-week low of $42.40 and a 52-week high of $60.50. The company has a debt-to-equity ratio of 2.67, a quick ratio of 2.25 and a current ratio of 2.25. The stock has a market cap of $182.74 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 1.65 and a beta of 1.16.

Oracle (NYSE:ORCL) last issued its quarterly earnings data on Wednesday, September 11th. The enterprise software provider reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.09. The company had revenue of $9.22 billion for the quarter, compared to the consensus estimate of $9.29 billion. Oracle had a net margin of 27.71% and a return on equity of 48.85%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Sell-side analysts expect that Oracle Co. will post 3.47 earnings per share for the current year.

Oracle declared that its board has authorized a stock buyback program on Wednesday, September 11th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the enterprise software provider to purchase up to 8.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 10th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.96 dividend on an annualized basis and a yield of 1.70%. Oracle’s dividend payout ratio (DPR) is 30.38%.

In other Oracle news, CEO Mark V. Hurd sold 787,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 $53,807,509. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dorian Daley sold 50,000 shares of the 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 completion of the transaction, the executive vice president now owns 50,000 shares in the company, valued at $2,750,500. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 849,786 shares of company stock worth $44,213,156. 36.60% of the stock is owned by insiders.

Several equities analysts recently issued reports on the stock. Jefferies Financial Group cut shares of Oracle from a “buy” rating to a “hold” rating and reduced their price target for the company from $66.00 to $60.00 in a research report on Monday, October 7th. ValuEngine cut shares of Oracle from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Goldman Sachs Group set a $62.00 price target on shares of Oracle and gave the company a “buy” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. set a $56.00 price target on shares of Oracle and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Credit Suisse Group set a $62.00 price target on shares of Oracle and gave the company a “buy” rating in a research report on Tuesday, September 24th. Four research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $56.80.

About Oracle

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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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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