Hexavest Inc. lessened its holdings in Oracle Co. (NYSE:ORCL) by 68.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,656 shares of the enterprise software provider’s stock after selling 12,419 shares during the quarter. Hexavest Inc.’s holdings in Oracle were worth $292,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC boosted its stake in shares of Oracle by 21.4% in the 2nd quarter. FMR LLC now owns 47,683,832 shares of the enterprise software provider’s stock valued at $2,100,949,000 after purchasing an additional 8,401,411 shares during the last quarter. Magellan Asset Management Ltd boosted its stake in shares of Oracle by 0.3% in the 2nd quarter. Magellan Asset Management Ltd now owns 27,663,584 shares of the enterprise software provider’s stock valued at $1,218,858,000 after purchasing an additional 85,349 shares during the last quarter. Vulcan Value Partners LLC boosted its stake in shares of Oracle by 3.8% in the 2nd quarter. Vulcan Value Partners LLC now owns 25,019,520 shares of the enterprise software provider’s stock valued at $1,102,360,000 after purchasing an additional 922,785 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Oracle by 3.9% in the 2nd quarter. Artisan Partners Limited Partnership now owns 15,661,304 shares of the enterprise software provider’s stock valued at $690,037,000 after purchasing an additional 584,748 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its stake in shares of Oracle by 4.4% in the 2nd quarter. Macquarie Group Ltd. now owns 15,551,321 shares of the enterprise software provider’s stock valued at $685,187,000 after purchasing an additional 661,718 shares during the last quarter. 53.43% of the stock is currently owned by institutional investors.
Shares of ORCL opened at $47.38 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.43 and a current ratio of 3.43. Oracle Co. has a twelve month low of $42.57 and a twelve month high of $53.48. The company has a market capitalization of $213.44 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 1.72 and a beta of 1.14.
Oracle (NYSE:ORCL) last announced its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.26 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The business’s revenue was up .8% on a year-over-year basis. Analysts anticipate that Oracle Co. will post 3.07 earnings per share for the current year.
Oracle declared that its Board of Directors has authorized a share buyback plan on Monday, September 17th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the enterprise software provider to buy up to 5.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 30th. Shareholders of record on Tuesday, October 16th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Monday, October 15th. Oracle’s payout ratio is currently 26.95%.
In other Oracle news, EVP Dorian Daley sold 131,696 shares of Oracle stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $50.93, for a total value of $6,707,277.28. Following the transaction, the executive vice president now owns 109,615 shares of the company’s stock, valued at $5,582,691.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Naomi O. Seligman sold 45,000 shares of Oracle stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $48.09, for a total transaction of $2,164,050.00. Following the completion of the transaction, the director now directly owns 27,969 shares in the company, valued at approximately $1,345,029.21. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,196 shares of company stock worth $9,235,790. Insiders own 32.00% of the company’s stock.
Several research analysts have recently issued reports on the stock. MED reduced their target price on shares of Oracle from $56.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday. They noted that the move was a valuation call. Zacks Investment Research raised shares of Oracle from a “sell” rating to a “hold” rating in a research note on Friday, September 21st. Bank of America lifted their price objective 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. Citigroup reduced their price objective on shares of Oracle from $51.00 to $49.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 18th. Finally, Wells Fargo & Co reduced their price objective 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. Sixteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Oracle has a consensus rating of “Buy” and a consensus price target of $53.92.
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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