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

Highstreet Asset Management Inc. lifted its holdings in Oracle Corporation (NYSE:ORCL) by 13.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,455 shares of the enterprise software provider’s stock after acquiring an additional 3,964 shares during the quarter. Highstreet Asset Management Inc.’s holdings in Oracle were worth $1,569,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ORCL. Acrospire Investment Management LLC grew its position in Oracle by 947.4% during the second quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock valued at $100,000 after buying an additional 1,800 shares during the period. Burt Wealth Advisors grew its position in Oracle by 4.3% during the second quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock valued at $107,000 after buying an additional 88 shares during the period. TrimTabs Asset Management LLC grew its position in Oracle by 88.8% during the first quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock valued at $120,000 after buying an additional 1,264 shares during the period. State of Alaska Department of Revenue acquired a new stake in Oracle during the second quarter valued at $129,000. Finally, Heritage Trust Co purchased a new position in Oracle during the first quarter valued at $130,000. Hedge funds and other institutional investors own 57.40% of the company’s stock.

In other Oracle news, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $48.83, for a total transaction of $183,112.50. Following the completion of the sale, the director now directly owns 18,125 shares in the company, valued at $885,043.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dorian Daley sold 100,000 shares of Oracle stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $47.59, for a total transaction of $4,759,000.00. Following the sale, the executive vice president now owns 136,954 shares of the company’s stock, valued at $6,517,640.86. The disclosure for this sale can be found here. Insiders have sold 278,750 shares of company stock worth $13,459,738 over the last ninety days. 29.00% of the stock is owned by insiders.

Several equities analysts have issued reports on ORCL shares. Vetr downgraded shares of Oracle from a “sell” rating to a “strong sell” rating and set a $46.58 price objective on the stock. in a report on Tuesday, September 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $58.00 price objective on shares of Oracle in a report on Monday, September 11th. Canaccord Genuity started coverage on shares of Oracle in a report on Friday, October 6th. They set a “buy” rating and a $57.00 price objective on the stock. Wedbush reaffirmed a “buy” rating and set a $58.00 price objective on shares of Oracle in a report on Friday, December 15th. Finally, BTIG Research reaffirmed a “buy” rating and set a $58.00 price objective on shares of Oracle in a report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $55.26.

Oracle Corporation (NYSE ORCL) opened at $47.36 on Tuesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.07 and a quick ratio of 5.04. Oracle Corporation has a 52 week low of $38.30 and a 52 week high of $53.14. The firm has a market cap of $197,660.00, a PE ratio of 20.33, a PEG ratio of 1.80 and a beta of 1.05.

Oracle (NYSE:ORCL) last issued its earnings results 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. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The company had revenue of $9.63 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the previous year, the firm earned $0.61 earnings per share. Oracle’s quarterly revenue was up 6.2% compared to the same quarter last year. research analysts anticipate that Oracle Corporation will post 2.68 EPS for the current year.

Oracle announced that its Board of Directors has authorized a share repurchase plan on Thursday, December 14th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the enterprise software provider to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, January 9th. Oracle’s dividend payout ratio (DPR) is presently 32.62%.

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Oracle Company 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 (NYSE:ORCL)

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