Ameriprise Financial Inc. lowered its holdings in Oracle Co. (NYSE:ORCL) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,131,328 shares of the enterprise software provider’s stock after selling 531,215 shares during the period. Ameriprise Financial Inc. owned about 0.24% of Oracle worth $489,382,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in ORCL. Gillespie Robinson & Grimm Inc. grew its position in shares of Oracle by 1.4% in the 2nd quarter. Gillespie Robinson & Grimm Inc. now owns 564,690 shares of the enterprise software provider’s stock valued at $28,314,000 after acquiring an additional 7,735 shares during the period. Iberiabank Corp grew its position in shares of Oracle by 17.1% in the 2nd quarter. Iberiabank Corp now owns 53,096 shares of the enterprise software provider’s stock valued at $2,662,000 after acquiring an additional 7,745 shares during the period. Private Trust Co. NA grew its position in shares of Oracle by 2.7% in the 2nd quarter. Private Trust Co. NA now owns 43,748 shares of the enterprise software provider’s stock valued at $2,193,000 after acquiring an additional 1,151 shares during the period. Capital Investment Advisors LLC grew its position in shares of Oracle by 3.0% in the 2nd quarter. Capital Investment Advisors LLC now owns 81,272 shares of the enterprise software provider’s stock valued at $4,075,000 after acquiring an additional 2,356 shares during the period. Finally, Family Legacy Inc. grew its position in shares of Oracle by 0.4% in the 2nd quarter. Family Legacy Inc. now owns 31,474 shares of the enterprise software provider’s stock valued at $1,578,000 after acquiring an additional 138 shares during the period. 57.92% of the stock is owned by institutional investors and hedge funds.
In related news, insider Thomas Kurian sold 1,700,000 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $50.29, for a total transaction of $85,493,000.00. Following the completion of the transaction, the insider now directly owns 1,522,983 shares in the company, valued at approximately $76,590,815.07. 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 the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $52.00, for a total transaction of $5,200,000.00. Following the transaction, the executive vice president now owns 37,576 shares of the company’s stock, valued at $1,953,952. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,956,250 shares of company stock valued at $98,313,363. 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, beating the consensus estimate of $0.68 by $0.02. The company had revenue of $9.63 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 EPS. sell-side analysts forecast that Oracle Co. will post 2.68 EPS for the current fiscal year.
Oracle announced that its board has authorized a share buyback program on Thursday, December 14th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the enterprise software provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Tuesday, January 9th. Oracle’s dividend payout ratio is 32.62%.
Several analysts recently commented on ORCL shares. Stifel Nicolaus reaffirmed a “buy” rating on shares of Oracle in a report on Sunday, October 22nd. BidaskClub raised shares of Oracle from a “hold” rating to a “buy” rating in a report on Wednesday, October 18th. Vetr downgraded shares of Oracle from a “strong-buy” rating to a “buy” rating and set a $55.49 target price for the company. in a report on Monday, November 6th. Zacks Investment Research raised shares of Oracle from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Wednesday, November 15th. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $62.00 target price on shares of Oracle in a report on Tuesday, November 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirty have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $55.39.
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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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