Integrated Investment Consultants LLC cut its holdings in Oracle Co. (NYSE:ORCL) by 38.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,373 shares of the enterprise software provider’s stock after selling 6,550 shares during the quarter. Integrated Investment Consultants LLC’s holdings in Oracle were worth $501,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of ORCL. Norges Bank acquired a new position in Oracle during the 4th quarter worth approximately $1,083,969,000. Franklin Resources Inc. boosted its position in Oracle by 68.5% during the 4th quarter. Franklin Resources Inc. now owns 23,962,890 shares of the enterprise software provider’s stock worth $1,269,542,000 after acquiring an additional 9,739,302 shares during the last quarter. California Public Employees Retirement System boosted its position in Oracle by 39.8% during the 1st quarter. California Public Employees Retirement System now owns 10,076,245 shares of the enterprise software provider’s stock worth $486,985,000 after acquiring an additional 2,868,396 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Oracle by 21.7% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 14,698,021 shares of the enterprise software provider’s stock worth $778,701,000 after acquiring an additional 2,624,509 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its position in Oracle by 16.9% during the 4th quarter. Macquarie Group Ltd. now owns 16,536,821 shares of the enterprise software provider’s stock worth $876,120,000 after acquiring an additional 2,396,424 shares during the last quarter. Institutional investors and hedge funds own 48.14% of the company’s stock.
Several equities research analysts have recently commented on ORCL shares. Societe Generale raised Oracle from a “hold” rating to a “buy” rating and cut their price objective for the company from $62.00 to $61.00 in a report on Wednesday, March 4th. JPMorgan Chase & Co. increased their price objective on Oracle from $55.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Sanford C. Bernstein reissued a “buy” rating and issued a $59.00 price objective on shares of Oracle in a report on Monday, June 8th. Wells Fargo & Co increased their price objective on Oracle from $55.00 to $62.50 and gave the company an “overweight” rating in a report on Tuesday, June 16th. Finally, Needham & Company LLC started coverage on Oracle in a report on Monday, June 15th. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $54.75.
Oracle (NYSE:ORCL) last posted its quarterly earnings data on Tuesday, June 16th. The enterprise software provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.12. The firm had revenue of $10.44 billion for the quarter, compared to analysts’ expectations of $10.72 billion. Oracle had a return on equity of 72.76% and a net margin of 25.94%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.16 EPS. On average, equities research analysts predict that Oracle Co. will post 3.6 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.74%. The ex-dividend date is Tuesday, July 14th. Oracle’s payout ratio is 27.75%.
Oracle declared that its Board of Directors has approved a share buyback program on Thursday, March 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the enterprise software provider to buy up to 9.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
In related news, CEO Safra Catz sold 1,000,000 shares of the firm’s stock in a transaction 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 $122,527,264.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles W. Moorman purchased 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 26th. The stock was bought at an average price of $48.59 per share, for a total transaction of $971,800.00. Following the transaction, the director now directly owns 38,561 shares of the company’s stock, valued at approximately $1,873,678.99. The disclosure for this purchase can be found here. 36.60% of the stock is owned by company insiders.
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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