Strs Ohio increased its stake in shares of Oracle Corporation (NYSE:ORCL) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,177,580 shares of the enterprise software provider’s stock after buying an additional 5,455 shares during the quarter. Strs Ohio owned 0.05% of Oracle worth $105,285,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of ORCL. Prentiss Smith & Co. Inc. lifted its holdings in Oracle by 117.8% during the third quarter. Prentiss Smith & Co. Inc. now owns 156,454 shares of the enterprise software provider’s stock worth $7,565,000 after acquiring an additional 84,608 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Oracle by 1.2% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 146,279 shares of the enterprise software provider’s stock worth $7,071,000 after acquiring an additional 1,686 shares in the last quarter. Whittier Trust Co. lifted its holdings in Oracle by 1.5% during the third quarter. Whittier Trust Co. now owns 449,284 shares of the enterprise software provider’s stock worth $21,718,000 after acquiring an additional 6,516 shares in the last quarter. Alpha Cubed Investments LLC lifted its holdings in Oracle by 15.3% during the third quarter. Alpha Cubed Investments LLC now owns 29,177 shares of the enterprise software provider’s stock worth $1,411,000 after acquiring an additional 3,875 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co lifted its holdings in Oracle by 8.8% during the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 108,885 shares of the enterprise software provider’s stock worth $5,265,000 after acquiring an additional 8,761 shares in the last quarter. Institutional investors and hedge funds own 57.40% of the company’s stock.
A number of analysts have recently commented on ORCL shares. Moffett Nathanson started coverage on Oracle in a report on Wednesday, September 6th. They issued a “buy” rating and a $65.00 price target on the stock. Vetr upgraded Oracle from a “strong sell” rating to a “sell” rating and set a $46.58 target price on the stock in a report on Monday, September 18th. BidaskClub lowered Oracle from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Credit Suisse Group reiterated an “overweight” rating and set a $62.00 target price on shares of Oracle in a report on Monday, September 18th. Finally, Canaccord Genuity dropped their target price on Oracle from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $55.26.
Oracle (NYSE:ORCL) last issued its quarterly earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The firm had revenue of $9.63 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period last year, the business posted $0.61 EPS. The business’s revenue was up 6.2% compared to the same quarter last year. equities analysts anticipate that Oracle Corporation will post 2.68 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th will be paid a $0.19 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $0.76 annualized dividend and a dividend yield of 1.61%. Oracle’s dividend payout ratio is presently 32.62%.
Oracle declared that its board has approved a share repurchase plan on Thursday, December 14th 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 generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director George H. Conrades sold 56,250 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $48.22, for a total transaction of $2,712,375.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at approximately $482,200. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director George H. Conrades sold 11,250 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $48.10, for a total transaction of $541,125.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $481,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 178,750 shares of company stock valued at $8,700,738. 29.00% of the stock is currently owned by company insiders.
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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