Yacktman Asset Management LP Cuts Holdings in Oracle Co. (ORCL)

Yacktman Asset Management LP cut its stake in shares of Oracle Co. (NYSE:ORCL) by 5.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,282,018 shares of the enterprise software provider’s stock after selling 813,158 shares during the quarter. Oracle makes up 8.2% of Yacktman Asset Management LP’s portfolio, making the stock its 4th largest holding. Yacktman Asset Management LP owned about 0.32% of Oracle worth $684,821,000 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 bought a new position in shares of Oracle in the third quarter valued at about $107,000. WESPAC Advisors SoCal LLC bought a new position in shares of Oracle in the third quarter valued at about $119,000. ELM Advisors LLC bought a new position in shares of Oracle in the third quarter valued at about $122,000. Palo Capital Inc. bought a new position in shares of Oracle in the third quarter valued at about $141,000. Finally, Kiley Juergens Wealth Management LLC raised its holdings in shares of 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 last quarter. 50.95% of the stock is owned by institutional investors.

A number of research analysts recently issued reports on the company. Credit Suisse Group reaffirmed a “buy” rating and issued a $60.00 price target on shares of Oracle in a report on Tuesday, September 18th. Royal Bank of Canada lifted their price target on Oracle from $52.00 to $53.00 and gave the company a “sector perform” rating in a report on Tuesday, September 18th. Zacks Investment Research cut Oracle from a “hold” rating to a “sell” rating in a report on Thursday. Goldman Sachs Group reaffirmed a “buy” rating and issued a $55.00 price target on shares of Oracle in a report on Tuesday, September 18th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Oracle in a report on Wednesday, September 12th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target 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 stock was sold at an average price of $47.26, for a total transaction of $177,225.00. Following the completion of the transaction, the director now directly owns 27,969 shares in the company, valued at approximately $1,321,814.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 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 disclosure for this sale can be found here. Insiders have sold a total of 142,946 shares of company stock valued at $7,257,365 over the last 90 days. Corporate insiders own 32.00% of the company’s stock.

Shares of ORCL stock opened at $48.62 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.43 and a quick ratio of 3.43. The stock has a market capitalization of $201.27 billion, a P/E ratio of 17.24, a PEG ratio of 1.63 and a beta of 1.12. Oracle Co. has a 12 month low of $42.57 and a 12 month high of $53.48.

Oracle (NYSE:ORCL) last posted its earnings results on Monday, September 17th. The enterprise software provider reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The company had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.26 billion. Oracle had a return on equity of 25.60% and a net margin of 9.74%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 EPS. Equities analysts anticipate that Oracle Co. will post 3.06 earnings per share for the current fiscal year.

The business 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. The ex-dividend date of this dividend was Monday, October 15th. This represents a $0.76 annualized dividend and a dividend yield of 1.56%. Oracle’s payout ratio is currently 26.95%.

Oracle declared that its board has initiated a stock buyback 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 purchase up to 5.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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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.

Further Reading: Quiet Period

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Institutional Ownership by Quarter for Oracle (NYSE:ORCL)

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