Oppenheimer & Co. Inc. decreased its position in Oracle Co. (NYSE:ORCL) by 29.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,344 shares of the enterprise software provider’s stock after selling 46,226 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Oracle were worth $5,793,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Advisory Inc. bought a new position in Oracle during the second quarter worth $218,896,000. Thompson Siegel & Walmsley LLC increased its position in Oracle by 2.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 304,726 shares of the enterprise software provider’s stock worth $13,426,000 after acquiring an additional 6,366 shares during the period. Sterling Capital Management LLC increased its position in Oracle by 76.8% during the second quarter. Sterling Capital Management LLC now owns 482,931 shares of the enterprise software provider’s stock worth $21,278,000 after acquiring an additional 209,853 shares during the period. Pitcairn Co. increased its position in Oracle by 13.7% during the second quarter. Pitcairn Co. now owns 32,418 shares of the enterprise software provider’s stock worth $1,428,000 after acquiring an additional 3,898 shares during the period. Finally, 180 Wealth Advisors LLC increased its position in Oracle by 16.8% during the second quarter. 180 Wealth Advisors LLC now owns 23,323 shares of the enterprise software provider’s stock worth $1,028,000 after acquiring an additional 3,358 shares during the period. 53.45% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on ORCL. Barclays lifted their price target on shares of Oracle from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, September 7th. Nomura set a $58.00 price target on shares of Oracle and gave the stock a “buy” rating in a research note on Tuesday, September 18th. Bank of America lifted their price target on shares of Oracle from $51.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 18th. Wells Fargo & Co decreased their price target on shares of Oracle from $62.50 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 18th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $60.00 price target on shares of Oracle in a research note on Tuesday, September 18th. Seventeen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.71.
Oracle (NYSE:ORCL) last issued its earnings results on Monday, September 17th. The enterprise software provider reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The company had revenue of $9.20 billion for the quarter, compared to the consensus estimate of $9.26 billion. During the same quarter in the previous year, the company earned $0.62 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts forecast that Oracle Co. will post 3.06 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 30th. Stockholders of record on Tuesday, October 16th were paid a $0.19 dividend. The ex-dividend date was Monday, October 15th. This represents a $0.76 annualized dividend and a dividend yield of 1.56%. Oracle’s dividend payout ratio is presently 26.95%.
Oracle declared that its Board of Directors has initiated a stock buyback program on Monday, September 17th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the enterprise software provider to reacquire up to 5.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $47.77, for a total transaction of $179,137.50. Following the transaction, the director now owns 27,969 shares in the company, valued at approximately $1,336,079.13. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Dorian Daley sold 131,696 shares of the company’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $50.93, for a total transaction of $6,707,277.28. Following the transaction, the executive vice president now owns 109,615 shares in the company, valued at approximately $5,582,691.95. The disclosure for this sale can be found here. Insiders sold a total of 142,946 shares of company stock worth $7,248,965 in the last 90 days. 32.00% of the stock is owned by corporate insiders.
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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