Highstreet Asset Management Inc. Buys New Stake in Oracle Corporation (ORCL)

Highstreet Asset Management Inc. bought a new stake in Oracle Corporation (NYSE:ORCL) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 28,491 shares of the enterprise software provider’s stock, valued at approximately $1,429,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Bernzott Capital Advisors increased its stake in Oracle Corporation by 1.3% during the second quarter. Bernzott Capital Advisors now owns 152,082 shares of the enterprise software provider’s stock worth $7,625,000 after purchasing an additional 1,950 shares during the period. Allegis Investment Advisors LLC increased its stake in Oracle Corporation by 71.3% during the second quarter. Allegis Investment Advisors LLC now owns 30,440 shares of the enterprise software provider’s stock worth $1,526,000 after purchasing an additional 12,673 shares during the period. Olstein Capital Management L.P. increased its stake in Oracle Corporation by 15.2% during the second quarter. Olstein Capital Management L.P. now owns 342,000 shares of the enterprise software provider’s stock worth $17,148,000 after purchasing an additional 45,000 shares during the period. Northpointe Capital LLC purchased a new stake in Oracle Corporation during the second quarter worth about $2,366,000. Finally, State of Wisconsin Investment Board increased its stake in Oracle Corporation by 25.5% during the second quarter. State of Wisconsin Investment Board now owns 4,006,307 shares of the enterprise software provider’s stock worth $200,876,000 after purchasing an additional 814,401 shares during the period. 57.95% of the stock is currently owned by institutional investors.

Oracle Corporation (NYSE:ORCL) opened at 50.68 on Tuesday. The stock has a 50 day moving average price of $49.25 and a 200-day moving average price of $48.11. The stock has a market cap of $211.49 billion, a PE ratio of 22.04 and a beta of 1.05. Oracle Corporation has a 12 month low of $37.64 and a 12 month high of $53.14.

Oracle Corporation (NYSE:ORCL) last announced its quarterly earnings data on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The business had revenue of $9.21 billion during the quarter, compared to analyst estimates of $9.03 billion. Oracle Corporation had a return on equity of 20.55% and a net margin of 25.34%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. On average, analysts expect that Oracle Corporation will post $2.94 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 11th were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, October 10th. This represents a $0.76 annualized dividend and a dividend yield of 1.50%. Oracle Corporation’s dividend payout ratio (DPR) is 33.19%.

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In other news, Director George H. Conrades sold 11,250 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $48.10, for a total value of $541,125.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at $481,000. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Hector Garcia-Molina sold 3,750 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $50.35, for a total value of $188,812.50. Following the completion of the sale, the director now owns 18,125 shares of the company’s stock, valued at approximately $912,593.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 305,776 shares of company stock valued at $14,822,112. Insiders own 29.00% of the company’s stock.

ORCL has been the topic of a number of recent research reports. Rosenblatt Securities reiterated a “buy” rating and set a $58.00 price target on shares of Oracle Corporation in a research note on Monday, September 11th. Vetr lowered shares of Oracle Corporation from a “sell” rating to a “strong sell” rating and set a $46.58 price target on the stock. in a research note on Tuesday, September 12th. Canaccord Genuity initiated coverage on shares of Oracle Corporation in a research note on Friday, October 6th. They set a “buy” rating and a $57.00 price target on the stock. BTIG Research reiterated a “buy” rating and set a $58.00 price target on shares of Oracle Corporation in a research note on Tuesday, September 19th. Finally, Moffett Nathanson initiated coverage on shares of Oracle Corporation in a research note on Wednesday, September 6th. They set a “buy” rating and a $65.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $53.50.

Oracle Corporation 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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Institutional Ownership by Quarter for Oracle Corporation (NYSE:ORCL)

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