Tesco Pension Investment Ltd boosted its stake in shares of Oracle Corporation (NYSE:ORCL) by 4.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,755,584 shares of the enterprise software provider’s stock after acquiring an additional 167,570 shares during the quarter. Oracle accounts for about 5.2% of Tesco Pension Investment Ltd’s investment portfolio, making the stock its 7th largest holding. Tesco Pension Investment Ltd owned approximately 0.09% of Oracle worth $181,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Acrospire Investment Management LLC increased its position in Oracle by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after buying an additional 1,800 shares in the last quarter. Burt Wealth Advisors boosted its stake in Oracle by 4.3% during the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after purchasing an additional 88 shares during the last quarter. TrimTabs Asset Management LLC boosted its stake in Oracle by 88.8% during the 1st quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock valued at $120,000 after purchasing an additional 1,264 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Oracle during the 2nd quarter valued at $129,000. Finally, Heritage Trust Co purchased a new position in shares of Oracle in the 1st quarter worth $130,000. Institutional investors own 57.89% of the company’s stock.
In other news, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $48.83, for a total transaction of $183,112.50. Following the completion of the sale, the director now directly owns 18,125 shares of the company’s stock, valued at approximately $885,043.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Dorian Daley sold 100,000 shares of Oracle stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the sale, the executive vice president now directly owns 136,954 shares of the company’s stock, valued at $6,517,640.86. The disclosure for this sale can be found here. Insiders have sold a total of 111,250 shares of company stock valued at $5,306,238 in the last ninety days. 29.00% of the stock is currently owned by corporate insiders.
Oracle (NYSE:ORCL) last announced its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. The business had revenue of $9.63 billion during the quarter, compared to the consensus estimate of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 EPS. analysts anticipate that Oracle Corporation will post 2.68 earnings per share for the current year.
Oracle announced that its Board of Directors has approved a stock buyback program on Thursday, December 14th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the enterprise software provider to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.55%. Oracle’s payout ratio is currently 32.62%.
Several research firms recently weighed in on ORCL. Drexel Hamilton reiterated a “buy” rating and set a $62.00 target price on shares of Oracle in a research report on Tuesday, January 2nd. Morgan Stanley upgraded Oracle from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $46.63 to $47.71 in a research report on Wednesday, January 3rd. BTIG Research reissued a “buy” rating and set a $58.00 price target on shares of Oracle in a report on Tuesday, September 19th. Zacks Investment Research cut Oracle from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $53.00 price target (up previously from $52.00) on shares of Oracle in a research report on Saturday, September 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $55.28.
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Oracle Company Profile
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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