Kidder Stephen W trimmed its holdings in Oracle Corporation (NYSE:ORCL) by 4.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,095 shares of the enterprise software provider’s stock after selling 3,680 shares during the period. Oracle comprises approximately 1.5% of Kidder Stephen W’s holdings, making the stock its 28th largest holding. Kidder Stephen W’s holdings in Oracle were worth $3,970,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Keel Point LLC raised its position in shares of Oracle by 0.3% during the 2nd quarter. Keel Point LLC now owns 5,349 shares of the enterprise software provider’s stock valued at $268,000 after acquiring an additional 14 shares in the last quarter. Joel Isaacson & Co. LLC raised its position in shares of Oracle by 0.3% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 8,197 shares of the enterprise software provider’s stock valued at $411,000 after acquiring an additional 24 shares in the last quarter. Flagship Harbor Advisors LLC raised its position in shares of Oracle by 0.4% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 8,110 shares of the enterprise software provider’s stock valued at $404,000 after acquiring an additional 35 shares in the last quarter. Partnervest Advisory Services LLC raised its position in shares of Oracle by 0.6% during the 2nd quarter. Partnervest Advisory Services LLC now owns 6,731 shares of the enterprise software provider’s stock valued at $337,000 after acquiring an additional 39 shares in the last quarter. Finally, Klingenstein Fields & Co. LLC raised its position in shares of Oracle by 0.9% during the 2nd quarter. Klingenstein Fields & Co. LLC now owns 6,679 shares of the enterprise software provider’s stock valued at $335,000 after acquiring an additional 62 shares in the last quarter. 57.89% of the stock is currently owned by institutional investors.
ORCL has been the subject of a number of recent research reports. JPMorgan Chase & Co. set a $55.00 price objective on Oracle and gave the stock a “buy” rating in a research note on Friday, September 15th. UBS Group restated a “buy” rating and set a $57.00 price objective (up from $52.00) on shares of Oracle in a research note on Friday, September 15th. BidaskClub upgraded Oracle from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. Zacks Investment Research upgraded Oracle from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Thursday, September 14th. Finally, Drexel Hamilton restated a “buy” rating and set a $62.00 price objective on shares of Oracle in a research note on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $55.26.
Oracle (NYSE:ORCL) last announced its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $9.63 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter last year, the business posted $0.61 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. equities analysts forecast that Oracle Corporation will post 2.68 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend 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%.
Oracle announced that its Board of Directors has initiated a stock repurchase program on Thursday, December 14th that allows the company to repurchase $12.00 billion in shares. This repurchase authorization allows the enterprise software provider to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
In other news, EVP Dorian Daley sold 23,297 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $49.00, for a total transaction of $1,141,553.00. Following the completion of the sale, the executive vice president now directly owns 54,274 shares of the company’s stock, valued at $2,659,426. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director George H. Conrades sold 56,250 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $48.22, for a total value of $2,712,375.00. Following the completion of the sale, the director now directly owns 10,000 shares of the company’s stock, valued at $482,200. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 267,500 shares of company stock valued at $12,918,613. 29.00% of the stock is currently owned by company insiders.
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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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