First Financial Bank Trust Division trimmed its holdings in shares of Oracle Co. (NYSE:ORCL) by 0.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,040 shares of the enterprise software provider’s stock after selling 596 shares during the quarter. First Financial Bank Trust Division’s holdings in Oracle were worth $3,524,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of ORCL. Longview Partners Guernsey LTD boosted its holdings in Oracle by 16.9% during the 2nd quarter. Longview Partners Guernsey LTD now owns 22,243,759 shares of the enterprise software provider’s stock valued at $1,267,227,000 after acquiring an additional 3,220,296 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Oracle by 1.7% in the 1st quarter. Clearbridge Investments LLC now owns 20,778,045 shares of the enterprise software provider’s stock valued at $1,115,989,000 after buying an additional 345,982 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Oracle by 3.8% in the 2nd quarter. Fisher Asset Management LLC now owns 15,567,402 shares of the enterprise software provider’s stock valued at $886,875,000 after buying an additional 562,921 shares during the period. Polen Capital Management LLC boosted its stake in shares of Oracle by 3.1% in the 2nd quarter. Polen Capital Management LLC now owns 14,444,171 shares of the enterprise software provider’s stock valued at $822,884,000 after buying an additional 430,254 shares during the period. Finally, Boston Partners boosted its stake in shares of Oracle by 5.0% in the 1st quarter. Boston Partners now owns 13,088,162 shares of the enterprise software provider’s stock valued at $702,965,000 after buying an additional 626,663 shares during the period. 53.65% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:ORCL traded up $1.28 during trading on Friday, reaching $55.14. The company had a trading volume of 13,716,056 shares, compared to its average volume of 13,931,859. The firm has a market capitalization of $176.60 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 1.58 and a beta of 1.16. The company has a debt-to-equity ratio of 2.67, a current ratio of 2.25 and a quick ratio of 2.25. The stock’s fifty day moving average price is $53.24 and its 200 day moving average price is $54.57. Oracle Co. has a fifty-two week low of $42.40 and a fifty-two week high of $60.50.
Oracle announced that its board has authorized a share buyback plan 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 repurchase up to 8.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 10th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Wednesday, October 9th. Oracle’s payout ratio is currently 30.38%.
In related news, Director Renee Jo James sold 3,000 shares of Oracle stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $53.56, for a total value of $160,680.00. Following the sale, the director now directly owns 32,886 shares in the company, valued at $1,761,374.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Naomi O. Seligman sold 90,000 shares of Oracle stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $59.52, for a total value of $5,356,800.00. Following the completion of the sale, the director now owns 82,310 shares in the company, valued at $4,899,091.20. The disclosure for this sale can be found here. In the last three months, insiders sold 935,143 shares of company stock worth $49,307,209. Corporate insiders own 32.00% of the company’s stock.
Several equities research analysts recently weighed in on ORCL shares. Barclays decreased their target price on Oracle from $59.00 to $57.00 and set an “equal weight” rating for the company in a research note on Thursday, September 12th. UBS Group set a $57.00 price target on Oracle and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Raymond James lifted their price target on Oracle from $57.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, June 20th. Macquarie reaffirmed a “hold” rating on shares of Oracle in a research report on Thursday, September 12th. Finally, ValuEngine lowered Oracle from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eleven have issued a buy rating to the company. Oracle has a consensus rating of “Hold” and a consensus target price of $56.57.
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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