Denali Advisors LLC lessened its holdings in shares of Oracle Corporation (NYSE:ORCL) by 54.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 158,700 shares of the enterprise software provider’s stock after selling 190,300 shares during the period. Denali Advisors LLC’s holdings in Oracle were worth $7,673,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of ORCL. Acrospire Investment Management LLC grew 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 worth $100,000 after purchasing an additional 1,800 shares during the period. Burt Wealth Advisors grew its position in shares of 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 acquiring an additional 88 shares during the period. TrimTabs Asset Management LLC grew its position in shares of 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 acquiring an additional 1,264 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Oracle during the 2nd quarter valued at about $129,000. Finally, Heritage Trust Co acquired a new stake in shares of Oracle during the 1st quarter valued at about $130,000. Hedge funds and other institutional investors own 57.89% of the company’s stock.
In other news, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $48.83, for a total value 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 $885,043.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Dorian Daley sold 100,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the completion of 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. Over the last three months, insiders sold 111,250 shares of company stock valued at $5,306,238. 29.00% of the stock is owned by corporate insiders.
Oracle (NYSE:ORCL) last issued its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The firm had revenue of $9.63 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the previous year, the firm posted $0.61 earnings per share. The company’s revenue was up 6.2% compared to the same quarter last year. equities analysts expect that Oracle Corporation will post 2.68 earnings per share for the current fiscal year.
Oracle announced that its Board of Directors has approved a share repurchase plan on Thursday, December 14th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the enterprise software provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be given a $0.19 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $0.76 dividend on an annualized basis and a yield of 1.54%. Oracle’s dividend payout ratio (DPR) is presently 32.62%.
ORCL has been the topic of a number of analyst reports. Stifel Nicolaus restated a “buy” rating and set a $53.00 target price (up from $52.00) on shares of Oracle in a research report on Saturday, September 16th. Canaccord Genuity reiterated a “buy” rating and issued a $57.00 price objective (up from $56.00) on shares of Oracle in a report on Saturday, September 16th. Zacks Investment Research upgraded Oracle from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Thursday, September 14th. Drexel Hamilton reiterated a “buy” rating and issued a $62.00 price objective on shares of Oracle in a report on Thursday, September 14th. Finally, JPMorgan Chase & Co. set a $55.00 target price on shares of Oracle and gave the stock a “buy” rating in a research note on Friday, September 15th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-eight have assigned a buy rating to the stock. Oracle currently has an average rating of “Buy” and an average price target of $55.28.
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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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