Gerber Kawasaki Wealth & Investment Management bought a new stake in Oracle Co. (NYSE:ORCL) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 5,365 shares of the enterprise software provider’s stock, valued at approximately $241,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sather Financial Group Inc increased its stake in shares of Oracle by 2.5% in the 2nd quarter. Sather Financial Group Inc now owns 192,357 shares of the enterprise software provider’s stock valued at $8,475,000 after buying an additional 4,767 shares during the period. Canandaigua National Bank & Trust Co. increased its stake in shares of Oracle by 0.7% in the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 173,514 shares of the enterprise software provider’s stock valued at $7,645,000 after buying an additional 1,142 shares during the period. Financial Counselors Inc. grew its stake in shares of Oracle by 7.0% during the second quarter. Financial Counselors Inc. now owns 43,860 shares of the enterprise software provider’s stock worth $1,932,000 after purchasing an additional 2,868 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Oracle during the second quarter worth $13,745,000. Finally, Sandy Spring Bank grew its stake in shares of Oracle by 7.9% during the second quarter. Sandy Spring Bank now owns 79,021 shares of the enterprise software provider’s stock worth $3,482,000 after purchasing an additional 5,802 shares during the period. 55.78% of the stock is owned by institutional investors.
A number of brokerages recently commented on ORCL. Societe Generale set a $50.00 price objective on Oracle and gave the stock a “neutral” rating in a research note on Tuesday. UBS Group lifted their price objective on Oracle from $48.00 to $51.00 and gave the stock a “positive” rating in a research note on Thursday, August 9th. ValuEngine raised Oracle from a “sell” rating to a “hold” rating in a research note on Monday, July 2nd. Nomura decreased their price objective on Oracle from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, June 29th. Finally, Raymond James decreased their price objective on Oracle from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $55.56.
ORCL stock opened at $48.10 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 3.96 and a current ratio of 3.96. The stock has a market cap of $200.03 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 1.62 and a beta of 1.14. Oracle Co. has a 1-year low of $42.57 and a 1-year high of $53.48.
Oracle (NYSE:ORCL) last posted its earnings results on Tuesday, June 19th. The enterprise software provider reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.05. The firm had revenue of $11.26 billion for the quarter, compared to analyst estimates of $11.17 billion. Oracle had a return on equity of 23.14% and a net margin of 9.61%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 earnings per share. analysts predict that Oracle Co. will post 3.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 31st. Shareholders of record on Tuesday, July 17th were issued a dividend of $0.19 per share. The ex-dividend date was Monday, July 16th. This represents a $0.76 annualized dividend and a yield of 1.58%. Oracle’s dividend payout ratio is presently 26.95%.
Oracle Company Profile
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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