Usca Ria LLC increased its stake in shares of Oracle Co. (NYSE:ORCL) by 2.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 69,377 shares of the enterprise software provider’s stock after acquiring an additional 1,882 shares during the period. Usca Ria LLC’s holdings in Oracle were worth $3,577,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of ORCL. Truvestments Capital LLC acquired a new stake in Oracle in the 3rd quarter valued at approximately $107,000. WESPAC Advisors SoCal LLC acquired a new stake in Oracle in the 3rd quarter valued at approximately $119,000. ELM Advisors LLC bought a new stake in shares of Oracle in the 3rd quarter worth approximately $122,000. Palo Capital Inc. bought a new stake in shares of Oracle in the 3rd quarter worth approximately $141,000. Finally, Kiley Juergens Wealth Management LLC lifted its position in shares of Oracle by 70.9% in the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 2,747 shares of the enterprise software provider’s stock worth $141,000 after acquiring an additional 1,140 shares during the period. 53.38% of the stock is currently owned by institutional investors and hedge funds.
Oracle stock opened at $50.43 on Friday. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 1.41. The company has a market cap of $203.88 billion, a P/E ratio of 17.88, a P/E/G ratio of 1.65 and a beta of 1.12. Oracle Co. has a one year low of $42.57 and a one year high of $53.48.
Oracle announced that its Board of Directors has approved a share repurchase program on Monday, September 17th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the enterprise software provider to repurchase up to 5.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 30th. Shareholders of record on Tuesday, October 16th were given a $0.19 dividend. The ex-dividend date of this dividend was Monday, October 15th. This represents a $0.76 annualized dividend and a yield of 1.51%. Oracle’s payout ratio is 26.95%.
In other news, 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 completion of the sale, the executive vice president now directly owns 109,615 shares of the company’s stock, valued at approximately $5,582,691.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction on Monday, September 17th. The stock was sold at an average price of $49.42, for a total value of $185,325.00. Following the sale, the director now directly owns 27,969 shares of the company’s stock, valued at $1,382,227.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 142,946 shares of company stock valued at $7,248,965. Corporate insiders own 32.00% of the company’s stock.
ORCL has been the subject of a number of research reports. Credit Suisse Group reiterated a “buy” rating and issued a $60.00 price objective on shares of Oracle in a research report on Wednesday, October 24th. Zacks Investment Research upgraded Oracle from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Citigroup reduced their price objective on Oracle from $51.00 to $49.00 and set a “neutral” rating for the company in a research report on Tuesday, September 18th. Stifel Nicolaus reiterated a “hold” rating and issued a $49.00 price objective (down previously from $50.00) on shares of Oracle in a research report on Tuesday, September 18th. Finally, Barclays raised their price objective on Oracle from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, September 7th. Seventeen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $53.71.
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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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