Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its position in Oracle Co. (NYSE:ORCL) by 4.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 466,362 shares of the enterprise software provider’s stock after selling 21,495 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Oracle were worth $22,539,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of ORCL. Exchange Traded Concepts LLC acquired a new stake in shares of Oracle in the fourth quarter valued at $381,000. SeaCrest Wealth Management LLC grew its stake in shares of Oracle by 1.4% in the fourth quarter. SeaCrest Wealth Management LLC now owns 14,268 shares of the enterprise software provider’s stock valued at $756,000 after buying an additional 203 shares in the last quarter. Exane Derivatives acquired a new position in Oracle during the 4th quarter worth $651,000. Barnett & Company Inc. grew its stake in Oracle by 2,981.1% during the 4th quarter. Barnett & Company Inc. now owns 1,140 shares of the enterprise software provider’s stock worth $60,000 after purchasing an additional 1,103 shares in the last quarter. Finally, Savior LLC acquired a new position in Oracle during the 4th quarter worth $58,000. 50.64% of the stock is owned by institutional investors and hedge funds.
ORCL has been the subject of several analyst reports. Barclays reissued a “neutral” rating and set a $50.00 target price on shares of Oracle in a research note on Friday, March 13th. Jefferies Financial Group reissued a “neutral” rating and set a $55.00 target price on shares of Oracle in a research note on Thursday, April 9th. Cleveland Research raised Oracle from a “neutral” rating to a “buy” rating in a research report on Monday, March 9th. Credit Suisse Group set a $57.00 price objective on Oracle and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Morgan Stanley lowered their price objective on Oracle from $63.00 to $53.00 and set an “equal weight” rating for the company in a research report on Monday, March 16th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $53.57.
Oracle (NYSE:ORCL) last posted its quarterly earnings data on Thursday, March 12th. The enterprise software provider reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.01. Oracle had a return on equity of 64.68% and a net margin of 27.06%. The firm had revenue of $9.80 billion during the quarter, compared to the consensus estimate of $9.75 billion. During the same period in the prior year, the business earned $0.87 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, research analysts anticipate that Oracle Co. will post 3.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 23rd. Shareholders of record on Thursday, April 9th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Wednesday, April 8th. Oracle’s payout ratio is 30.38%.
Oracle announced that its board has authorized a share repurchase program on Thursday, March 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the enterprise software provider to buy up to 9.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In other Oracle news, Director Charles W. Moorman bought 10,000 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were bought at an average price of $45.23 per share, for a total transaction of $452,300.00. Following the transaction, the director now owns 18,561 shares of the company’s stock, valued at approximately $839,514.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Safra Catz sold 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $51.73, for a total value of $51,730,000.00. Following the transaction, the chief executive officer now owns 2,368,592 shares in the company, valued at approximately $122,527,264.16. The disclosure for this sale can be found here. Insiders own 36.60% of the company’s stock.
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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