First Trust Advisors LP decreased its position in Oracle Corporation (NYSE:ORCL) by 3.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,993,178 shares of the enterprise software provider’s stock after selling 75,347 shares during the quarter. First Trust Advisors LP’s holdings in Oracle were worth $96,370,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in ORCL. Macquarie Group Ltd. increased its position in shares of Oracle by 6,353.4% in the first quarter. Macquarie Group Ltd. now owns 18,640,774 shares of the enterprise software provider’s stock valued at $831,551,000 after acquiring an additional 18,351,920 shares during the last quarter. BT Investment Management Ltd acquired a new stake in shares of Oracle in the second quarter valued at about $459,738,000. Harris Associates L P increased its position in shares of Oracle by 17.9% in the second quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock valued at $2,456,319,000 after acquiring an additional 7,427,501 shares during the last quarter. FMR LLC increased its position in shares of Oracle by 24.8% in the second quarter. FMR LLC now owns 33,082,375 shares of the enterprise software provider’s stock valued at $1,658,750,000 after acquiring an additional 6,577,297 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Oracle by 2.6% during the second quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock worth $10,350,996,000 after buying an additional 5,270,359 shares during the last quarter. 57.40% of the stock is currently owned by institutional investors and hedge funds.
Shares of Oracle Corporation (NYSE ORCL) opened at $47.36 on Friday. Oracle Corporation has a 1-year low of $38.30 and a 1-year high of $53.14. The stock has a market capitalization of $195,720.38, a P/E ratio of 20.33, a PEG ratio of 1.80 and a beta of 1.05. The company has a current ratio of 5.07, a quick ratio of 5.04 and a debt-to-equity ratio of 1.03.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 10th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend 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 stock repurchase plan on Thursday, December 14th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
ORCL has been the topic of a number of recent analyst reports. Zacks Investment Research raised Oracle from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research report on Thursday, September 14th. Drexel Hamilton reissued a “buy” rating and set a $62.00 price target on shares of Oracle in a research report on Thursday, September 14th. BidaskClub raised Oracle from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th. Rosenblatt Securities reissued a “buy” rating and set a $58.00 price target on shares of Oracle in a research report on Monday, September 11th. Finally, Moffett Nathanson initiated coverage on Oracle in a research report on Wednesday, September 6th. They set a “buy” rating and a $65.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $55.26.
In related news, EVP Dorian Daley sold 23,297 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $49.00, for a total value of $1,141,553.00. Following the completion of the sale, the executive vice president now directly owns 54,274 shares in the company, valued at $2,659,426. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director George H. Conrades sold 11,250 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were 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 of the company’s stock, valued at $481,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 278,750 shares of company stock valued at $13,459,738. 29.00% of the stock is currently owned by corporate insiders.
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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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