Northstar Asset Management LLC lifted its holdings in shares of Oracle Co. (NYSE:ORCL) by 15.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,167 shares of the enterprise software provider’s stock after purchasing an additional 1,367 shares during the period. Northstar Asset Management LLC’s holdings in Oracle were worth $524,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Truvestments Capital LLC acquired a new position in Oracle in the third quarter valued at $107,000. WESPAC Advisors SoCal LLC acquired a new position in Oracle in the third quarter valued at $119,000. ELM Advisors LLC acquired a new position in Oracle in the third quarter valued at $122,000. Palo Capital Inc. acquired a new position in Oracle in the third quarter valued at $141,000. Finally, Kiley Juergens Wealth Management LLC lifted its holdings in Oracle by 70.9% in the third quarter. Kiley Juergens Wealth Management LLC now owns 2,747 shares of the enterprise software provider’s stock valued at $141,000 after buying an additional 1,140 shares during the period. Institutional investors own 53.38% of the company’s stock.
Shares of NYSE ORCL opened at $50.26 on Thursday. Oracle Co. has a 1-year low of $42.57 and a 1-year high of $53.48. The stock has a market cap of $203.88 billion, a PE ratio of 17.82, a P/E/G ratio of 1.65 and a beta of 1.12. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 1.41.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 30th. Stockholders of record on Tuesday, October 16th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Monday, October 15th. Oracle’s payout ratio is presently 26.95%.
Oracle announced that its board has approved a stock repurchase program on Monday, September 17th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the enterprise software provider to repurchase up to 5.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Several research firms recently issued reports on ORCL. Zacks Investment Research upgraded shares of Oracle from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. Societe Generale set a $50.00 target price on shares of Oracle and gave the company a “neutral” rating in a report on Tuesday, August 14th. Needham & Company LLC began coverage on shares of Oracle in a report on Monday, October 22nd. They issued a “hold” rating on the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $53.00 target price on shares of Oracle in a report on Tuesday, September 18th. Finally, Goldman Sachs Group reiterated a “buy” rating and set a $55.00 price objective on shares of Oracle in a report on Tuesday, September 18th. Seventeen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $53.71.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $47.26, for a total transaction of $177,225.00. Following the completion of the sale, the director now directly owns 27,969 shares of the company’s stock, valued at $1,321,814.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Dorian Daley sold 131,696 shares of the business’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 sale, the executive vice president now directly owns 109,615 shares of the company’s stock, valued at $5,582,691.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 142,946 shares of company stock valued at $7,248,965. 32.00% of the stock is currently owned by insiders.
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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