Doyle Wealth Management grew its holdings in Oracle Corporation (NYSE:ORCL) by 4.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 233,155 shares of the enterprise software provider’s stock after purchasing an additional 9,101 shares during the period. Oracle makes up about 2.0% of Doyle Wealth Management’s portfolio, making the stock its 20th biggest position. Doyle Wealth Management’s holdings in Oracle were worth $11,273,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Acrospire Investment Management LLC grew its position in Oracle by 947.4% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after acquiring an additional 1,800 shares during the last quarter. Burt Wealth Advisors grew its position in Oracle by 4.3% during the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after acquiring an additional 88 shares during the last quarter. IHT Wealth Management LLC grew its position in Oracle by 65.9% during the 2nd quarter. IHT Wealth Management LLC now owns 2,383 shares of the enterprise software provider’s stock worth $154,000 after acquiring an additional 947 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in Oracle during the 2nd quarter worth $129,000. Finally, ETF Managers Group LLC bought a new stake in Oracle during the 2nd quarter worth $133,000. Institutional investors own 57.40% of the company’s stock.
In related news, Director George H. Conrades sold 11,250 shares of the company’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 transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $481,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Dorian Daley sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $47.59, for a total value of $4,759,000.00. Following the transaction, the executive vice president now directly owns 136,954 shares in the company, valued at $6,517,640.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 278,750 shares of company stock worth $13,459,738. 29.00% of the stock is owned by company insiders.
Oracle (NYSE:ORCL) last announced its quarterly earnings data on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $9.63 billion for the quarter, compared to the consensus estimate of $9.57 billion. Oracle had a return on equity of 20.49% and a net margin of 25.48%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. sell-side analysts predict that Oracle Corporation will post 2.68 earnings per share for the current fiscal year.
Oracle declared that its board has authorized a share repurchase program on Thursday, December 14th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the enterprise software provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.
The firm also recently disclosed 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. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Tuesday, January 9th. Oracle’s dividend payout ratio is 32.62%.
Several brokerages have commented on ORCL. UBS Group reaffirmed a “buy” rating and set a $57.00 target price (up from $52.00) on shares of Oracle in a report on Friday, September 15th. BidaskClub raised Oracle from a “hold” rating to a “buy” rating in a report on Tuesday, September 12th. Zacks Investment Research raised Oracle from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Thursday, September 14th. Drexel Hamilton reaffirmed a “buy” rating and set a $62.00 target price on shares of Oracle in a report on Thursday, September 14th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $58.00 target price on shares of Oracle in a report on Monday, September 11th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-seven have assigned a buy rating to the company. Oracle presently has a consensus rating of “Buy” and a consensus price target of $55.26.
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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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