Pittenger & Anderson Inc. lifted its stake in Oracle Co. (NYSE:ORCL) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,109 shares of the enterprise software provider’s stock after purchasing an additional 1,334 shares during the period. Pittenger & Anderson Inc.’s holdings in Oracle were worth $3,821,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its stake in Oracle by 21.4% in the second quarter. FMR LLC now owns 47,683,832 shares of the enterprise software provider’s stock worth $2,100,949,000 after acquiring an additional 8,401,411 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new stake in Oracle in the second quarter worth about $218,896,000. Summit Trail Advisors LLC lifted its stake in Oracle by 3,754.1% in the first quarter. Summit Trail Advisors LLC now owns 2,535,473 shares of the enterprise software provider’s stock worth $2,535,000 after acquiring an additional 2,469,687 shares during the period. Sumitomo Mitsui Asset Management Company LTD lifted its stake in Oracle by 787.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,944,051 shares of the enterprise software provider’s stock worth $85,654,000 after acquiring an additional 1,725,077 shares during the period. Finally, Putnam Investments LLC lifted its stake in Oracle by 202.1% in the second quarter. Putnam Investments LLC now owns 2,136,058 shares of the enterprise software provider’s stock worth $94,115,000 after acquiring an additional 1,428,924 shares during the period. Hedge funds and other institutional investors own 53.43% of the company’s stock.
In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $47.77, for a total value 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dorian Daley sold 131,696 shares of Oracle stock in a transaction on Monday, September 24th. The stock was 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 in the company, valued at approximately $5,582,691.95. The disclosure for this sale can be found here. Insiders sold a total of 184,196 shares of company stock worth $9,235,790 in the last 90 days. 32.00% of the stock is currently owned by insiders.
Oracle stock opened at $47.38 on Friday. Oracle Co. has a 1 year low of $42.57 and a 1 year high of $53.48. The firm has a market capitalization of $213.44 billion, a P/E ratio of 16.80, a P/E/G ratio of 1.72 and a beta of 1.14. 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 (NYSE:ORCL) last released its quarterly earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.26 billion. Oracle had a net margin of 9.74% and a return on equity of 25.60%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 EPS. As a group, analysts forecast that Oracle Co. will post 3.07 EPS for the current year.
Oracle declared that its board has approved a stock repurchase 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 buy up to 5.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 30th. Shareholders of record on Tuesday, October 16th will be issued a $0.19 dividend. The ex-dividend date is Monday, October 15th. This represents a $0.76 dividend on an annualized basis and a yield of 1.60%. Oracle’s payout ratio is currently 26.95%.
ORCL has been the subject of a number of research reports. KeyCorp reaffirmed a “hold” rating on shares of Oracle in a research note on Friday, June 15th. Credit Suisse Group set a $60.00 price objective on shares of Oracle and gave the stock a “buy” rating in a research note on Monday, June 18th. Wedbush lowered shares of Oracle from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $55.00 to $49.00 in a research note on Wednesday, June 20th. Stifel Nicolaus lowered their price objective on shares of Oracle from $53.00 to $50.00 and set a “hold” rating for the company in a research note on Wednesday, June 20th. Finally, UBS Group lowered shares of Oracle from a “buy” rating to a “neutral” rating and decreased their price target for the company from $53.00 to $48.00 in a research report on Wednesday, June 20th. Sixteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock has an average 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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