Harrington Investments INC purchased a new stake in shares of Oracle Corporation (NYSE:ORCL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 40,653 shares of the enterprise software provider’s stock, valued at approximately $1,966,000. Oracle accounts for 1.9% of Harrington Investments INC’s portfolio, making the stock its 23rd biggest holding.
Several other hedge funds have also recently added to or reduced their stakes in ORCL. Keel Point LLC increased its stake in Oracle by 0.3% in the 2nd quarter. Keel Point LLC now owns 5,349 shares of the enterprise software provider’s stock valued at $268,000 after buying an additional 14 shares during the period. Joel Isaacson & Co. LLC increased its stake in Oracle by 0.3% in the 2nd quarter. Joel Isaacson & Co. LLC now owns 8,197 shares of the enterprise software provider’s stock valued at $411,000 after buying an additional 24 shares during the period. Flagship Harbor Advisors LLC increased its stake in Oracle by 0.4% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 8,110 shares of the enterprise software provider’s stock valued at $404,000 after buying an additional 35 shares during the period. Partnervest Advisory Services LLC increased its stake in Oracle by 0.6% in the 2nd quarter. Partnervest Advisory Services LLC now owns 6,731 shares of the enterprise software provider’s stock valued at $337,000 after buying an additional 39 shares during the period. Finally, Klingenstein Fields & Co. LLC increased its stake in Oracle by 0.9% in the 2nd quarter. Klingenstein Fields & Co. LLC now owns 6,679 shares of the enterprise software provider’s stock valued at $335,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 57.40% of the company’s stock.
Several research firms have weighed in on ORCL. Zacks Investment Research lowered shares of Oracle from a “hold” rating to a “sell” rating in a research note on Tuesday. Wedbush reiterated a “buy” rating and issued a $58.00 price objective on shares of Oracle in a research note on Friday, December 15th. J P Morgan Chase & Co set a $55.00 price objective on shares of Oracle and gave the company a “buy” rating in a research note on Monday, December 18th. Royal Bank of Canada set a $51.00 price objective on shares of Oracle and gave the company a “neutral” rating in a research note on Monday, December 18th. Finally, Oppenheimer restated a “hold” rating on shares of Oracle in a research note on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-seven have issued a buy rating to the company. Oracle presently has an average rating of “Buy” and a consensus target price of $55.26.
Oracle (NYSE:ORCL) last released its quarterly earnings data 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. The company had revenue of $9.63 billion during the quarter, compared to the consensus estimate of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $0.61 EPS. research analysts anticipate that Oracle Corporation will post 2.68 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Tuesday, January 9th. Oracle’s dividend payout ratio (DPR) is currently 32.62%.
Oracle announced that its Board of Directors has initiated a share repurchase program on Thursday, December 14th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the enterprise software provider to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
In related news, Director George H. Conrades sold 56,250 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $48.70, for a total transaction of $182,625.00. The disclosure for this sale can be found here. Insiders have sold a total of 278,750 shares of company stock valued at $13,459,738 in the last quarter. 29.00% of the stock is currently owned by corporate 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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