Swedbank increased its stake in shares of Oracle Co. (NYSE:ORCL) by 1.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,015,410 shares of the enterprise software provider’s stock after buying an additional 60,991 shares during the period. Swedbank owned about 0.10% of Oracle worth $183,705,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ORCL. Clearbridge Investments LLC increased its stake in shares of Oracle by 148.9% in the fourth quarter. Clearbridge Investments LLC now owns 15,759,813 shares of the enterprise software provider’s stock worth $745,124,000 after purchasing an additional 9,429,236 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Oracle by 50.2% in the fourth quarter. Mackenzie Financial Corp now owns 16,111,806 shares of the enterprise software provider’s stock worth $761,766,000 after purchasing an additional 5,387,078 shares in the last quarter. OppenheimerFunds Inc. increased its stake in shares of Oracle by 81.8% in the fourth quarter. OppenheimerFunds Inc. now owns 6,531,857 shares of the enterprise software provider’s stock worth $308,826,000 after purchasing an additional 2,938,638 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in shares of Oracle by 100.9% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 5,580,604 shares of the enterprise software provider’s stock worth $263,850,000 after purchasing an additional 2,803,359 shares in the last quarter. Finally, Polen Capital Management LLC increased its stake in shares of Oracle by 21.7% in the third quarter. Polen Capital Management LLC now owns 15,357,706 shares of the enterprise software provider’s stock worth $742,545,000 after purchasing an additional 2,737,445 shares in the last quarter. Institutional investors and hedge funds own 56.43% of the company’s stock.
In other news, insider Thomas Kurian sold 979,402 shares of the business’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $45.40, for a total value of $44,464,850.80. Following the completion of the sale, the insider now directly owns 114,871 shares in the company, valued at approximately $5,215,143.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $52.19, for a total transaction of $195,712.50. Following the completion of the sale, the director now owns 18,125 shares of the company’s stock, valued at $945,943.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,557,015 shares of company stock valued at $117,480,315. Company insiders own 29.00% of the company’s stock.
Oracle (NYSE:ORCL) last announced its quarterly earnings data on Monday, March 19th. The enterprise software provider reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.11. The firm had revenue of $9.78 billion during the quarter, compared to analyst estimates of $9.77 billion. Oracle had a net margin of 9.25% and a return on equity of 21.77%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 EPS. equities research analysts expect that Oracle Co. will post 2.76 earnings per share for the current year.
Oracle announced that its board has approved a share buyback plan on Friday, February 2nd that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the enterprise software provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 17th were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, April 16th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.62%. Oracle’s payout ratio is 30.52%.
Several equities analysts recently commented on ORCL shares. Wedbush reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Oracle in a research note on Tuesday, March 20th. Credit Suisse Group reaffirmed a “buy” rating and set a $62.00 price objective on shares of Oracle in a research note on Sunday, February 18th. Morgan Stanley reaffirmed a “buy” rating on shares of Oracle in a research note on Sunday, March 18th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $55.00 price objective on shares of Oracle in a research note on Tuesday, March 20th. Finally, Cleveland Research cut shares of Oracle from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 20th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $56.30.
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure technologies for information technology (IT) environments worldwide. It 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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